Stellar (XLM) Closes Prior Hour Up 0.94%; Heads Down For the 2nd Straight Day, in an Uptrend Over Past 90 Days

The Hourly View for XLM

Last Updated December 28, 2020, 02:017 GMT

At the time of this writing, Stellar’s price is up $0 (0.94%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Stellar has now gone up 4 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Stellar Daily Price Recap

Stellar came into today down 3.67% ($0.0056) from the open of the day prior, marking the 2nd straight day a decline has happened. The change in price came along side change in volume that was down 39.37% from previous day, but up 58.02% from the Sunday of last week. Relative to other instruments in the Top Cryptos asset class, Stellar ranked 6th since the day prior in terms of percentage price change. The daily price chart of Stellar below illustrates.

XLM

Stellar Technical Analysis

Coming into today Stellar is now close to its 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 and 30 day timeframes. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For additional context, note that price has gone down 9 out of the past 10 days.