It’s been a feast for bears operating on an hourly timeframe, as xlm has now gone down 8 of the past 10 hours.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
The price move occurred on volume that was up 4.7% from the day prior, but down 41.25% from the same day the week before.
Out of the 7 instruments in the top cryptos asset class, stellar ended up ranking 2nd for the day in terms of price change relative to yesterday.
This move happened on lower volume, as yesterday’s volume was down 42.1% from the day before — and down 44.05% from the same day the week before.
This move is a reversal from the hour prior, which saw price move down.
It’s been a feast for bulls operating on an hourly timeframe, as xlm has now gone up 4 of the past 5 hours.
Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 and 30 day timeframes.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
As for how volume fared, yesterday’s volume was up 148.33% from the previous day (sunday), and up 279.59% from monday of the week before.