Stellar (XLM) Closes Prior Hour Down -0.48%; 2 Day Up Streak Snapped, But Still in an Uptrend Over Past 14 Days

The Hourly View for XLM

Last Updated October 19, 2020, 11:16 GMT

Currently, XLM’s price is down $0 (-0.48%) 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. 2 The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Stellar Daily Price Recap

The back and forth price flow continues for Stellar, which started today off at 0.07952 US dollars, down 2.61% ($0.0021) from the previous day. The change in price came along side change in volume that was down 64.42% from previous day, but up 92.38% from the Sunday of last week. On a relative basis, Stellar was the worst performer out of all 7 of the assets in the Top Cryptos asset class during the previous day. Here is a daily price chart of Stellar.

XLM

Stellar Technical Analysis

Notably, Stellar is now close to its 50 and 200 day averages, located at 0.08 and 0.08 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed up. If you’re looking to trade the primary trend, this may be a good opportunity to sell rallies created by the counter trend. For another vantage point, consider that Stellar’s price has gone up 7 of the previous 14 trading days.