Stellar (XLM) Closes Last Hour Up $0.00; Makes Big Move Relative to Two Week Trend, Breaks Above 50 and 200 Day Averages, 3 Day Down Streak Broken

The Hourly View for XLM

Last Updated October 17, 2020, 07:016 GMT

At the moment, XLM’s price is up $0 (0.09%) from the hour prior. This is the 2nd hour in a row XLM has seen its price head up. 2 Price action traders may also wish to note that we see a pin bar candlestick pattern on XLM. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 6.9% ($0.0051) since the day prior, 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 127.27% from the day prior, and up 97.39% from the same day the week before. On a relative basis, the day prior was pretty good: Stellar bested all 7 of the assets in the Top Cryptos class 🙂 Here is a daily price chart of Stellar.

XLM

Stellar Technical Analysis

Notably, Stellar crossed above its 50 and 200 day moving averages yesterday. 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. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen 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 5 out of the past 10 days.