Stellar (XLM) Closes Last Hour Up $0.00; Eyes 200 Day Average, 3 Day Down Streak Broken

The Hourly View for XLM

Last Updated September 30, 2020, 01:037 GMT

At the time of this writing, XLM’s price is up $0 (0.08%) from the hour prior. XLM has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on XLM. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. Of note is that the 20 hour changed directions on XLM; it is now pointing up. 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

The end of a 3 day negative run has come for Stellar, which finished yesterday up 1.34% ($0.001). As for how volume fared, yesterday’s volume was up 24.3% from the previous day (Monday), and up 17.84% from Tuesday of the week before. Relative to other instruments in the Top Cryptos asset class, Stellar ranked 4th since yesterday in terms of percentage price change. Here is a daily price chart of Stellar.


Stellar Technical Analysis

Notably, the current price of Stellar is sitting close to its 20 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Stellar’s price has gone up 16 of the previous 30 trading days.