Stellar (XLM) Closes Prior Hour Up 0.07%; Makes Big Move Relative to Two Week Trend, Crosses 20 Day Moving Average, Heads Up For the 3rd Consecutive Day

The Hourly View for XLM

Last Updated July 23, 2021, 04:017 GMT

At the time of this writing, Stellar’s price is up $0 (0.07%) from the hour prior. This is the 2nd straight hour Stellar has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Stellar. 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. 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 up 15.61% ($0.0356) from the open of yesterday, marking the 3rd consecutive day an increase has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 105.86% from the day prior, and up 151.15% from the same day the week before. On a relative basis, yesterday was pretty good: Stellar bested all 7 of the assets in the Top Cryptos class 🙂 Here is a daily price chart of Stellar.

Stellar Technical Analysis

Notably, Stellar crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Stellar’s price has gone up 5 them.