Stellar (XLM) Closes Last Hour Up $0.00; Heads Down For the 2nd Straight Day, Nears 20 Day Moving Average

The Hourly View for XLM

Last Updated October 15, 2020, 03:016 GMT

At the moment, XLM’s price is up $0 (0.01%) from the hour prior. XLM has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. 3 Price action traders may also wish to note that we see a pin bar candlestick pattern on XLM. Given that we see downtrend 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 came into today down 3.06% ($0.0023) from the open of the previous day, marking the 2nd straight day a decline has happened. The price move occurred on volume that was up 5.78% from the day prior, but down 13.98% from the same day the week before. Those trading within the Top Cryptos asset class should know that Stellar was the worst performer in the class during the previous day. Let’s take a look at the daily price chart of Stellar.


Stellar Technical Analysis

The first thing we should note is that Stellar is now close to its 20 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.