Stellar (XLM) Closes Prior Hour Down -0.34%; Moves Up For the 2nd Day In A Row, Breaks Above 200 Day Average, is Inching Close to 200 Day Average

The Hourly View for XLM

Last Updated October 1, 2020, 23:16 GMT

Currently, XLM’s price is down $0 (-0.34%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 1 Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Stellar Daily Price Recap

Stellar came into today up 1.03% ($8e-04) from the open of yesterday, marking the 2nd day in a row an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 20.7% from the day before — and down 19.66% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Stellar ended up ranking 2nd for the day in terms of price change relative to yesterday. The daily price chart of Stellar below illustrates.

XLM

Stellar Technical Analysis

Notably, Stellar crossed above its 200 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Stellar’s price has gone up 17 of the previous 30 trading days.