(Last Updated March 16, 2021)
Hello! This is the news page for Stellar. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
As for trends on XLM, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
XLM’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, suggesting the trend is generally upward, save for a decline that occurred about 3 weeks ago.
Below is a chart showing XLM’s price with its moving averages.
At the moment, XLM’s price is down $-0.02 (-5.63%) from the week prior. XLM has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows XLM’s price action over the past year.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 104.95% from the day prior, and up 12.66% from the same day the week before.
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
This move happened on lower volume, as yesterday’s volume was down 65.1% from the day before — and down 48.18% from the same day the week before.
The change in price came along side change in volume that was down 32.6% from previous day, but up 147.14% from the thursday of last week.
Relative to other instruments in the top cryptos asset class, stellar ranked 5th since the day prior in terms of percentage price change.
For additional context, note that price has gone up 10 out of the past 14 days.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 324.17% from the day prior, and up 319.15% from the same day the week before.
2 Of note is that the 20 hour changed directions on xlm; it is now pointing down.
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.
3 of note is that the 20 hour changed directions on xlm; it is now pointing down.