Stellar (XLM) Price Near $0.07; Heads Down For the 3rd Consecutive Day, in a Downtrend Over Past 90 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for XLM

Last Updated October 16, 2020, 01:037 GMT

At the time of this writing, XLM’s price is up $0 (0.59%) 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. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being 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 is down 0.03% ($0) since yesterday, marking the 3rd consecutive day it has gone down. The change in price came along side change in volume that was up 22.74% from previous day, but down 2% from the Thursday of last week. Out of the 7 instruments in the Top Cryptos asset class, Stellar ended up ranking 3rd for the day in terms of price change relative to yesterday. Below is a daily price chart of Stellar.

XLM

Stellar Technical Analysis

Coming into today 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. 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. For another vantage point, consider that Stellar’s price has gone up 7 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.