Stellar (XLM) Closes Last Hour Up $0.00; Moves Up For the 2nd Consecutive Day, But Still in a Downtrend Over Past 90 Days

The Hourly View for XLM

Last Updated October 18, 2020, 01:037 GMT

At the time of this writing, XLM’s price is up $0 (0.68%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above 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 closed the day prior up 3.08% ($0.0024); this denotes the 2nd consecutive day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 100.34% from the day prior, and up 270.28% from the same day the week before. Stellar outperformed all 7 assets in the Top Cryptos asset class since the day prior. Let’s take a look at the daily price chart of Stellar.

XLM

Stellar Technical Analysis

Coming into today Stellar is now close to its 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to sell rallies created by the counter trend. For additional context, note that price has gone up 8 out of the past 14 days.