Stellar (XLM) Price Near $0.08; Makes Big Move Relative to Two Week Trend, 3 Day Down Streak Broken, Crosses 50 and 200 Day Moving Averages

The Hourly View for XLM

Last Updated October 17, 2020, 01:037 GMT

Currently, XLM’s price is up $0 (0.24%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as XLM has now gone up 9 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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

The end of a 3 day negative run has come for Stellar, which finished the previous day up 6.9% ($0.0051). As for how volume fared, yesterday’s volume was up 127.27% from the previous day (Thursday), and up 97.39% from Friday of the week before. Stellar outperformed all 7 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! The daily price chart of Stellar below illustrates.

XLM

Stellar Technical Analysis

Moving average crossovers are always interesting, so let’s start there: 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. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For additional context, note that price has gone up 15 out of the past 30 days.