Stellar (XLM) Closes Last Hour Up $0.00; Price Base in Formation Over Past 30 Days, in a Downtrend Over Past 14 Days, 3 Day Down Streak Ended

The Hourly View for XLM

Last Updated May 26, 2021, 02:017 GMT

At the time of this writing, Stellar’s price is up $0 (0.57%) from the hour prior. The hourly chart shows that Stellar has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on XLM; it is now pointing down. 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 is up 20.83% ($0.0758) since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 25.6% from the day prior, and up 12.07% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Stellar ended up ranking 6th for the day in terms of price change relative to yesterday. The daily price chart of Stellar below illustrates.


Stellar Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 14 days Stellar’s price has gone up 8 them. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 14 and 90 day time periods.