Stellar (XLM) Price Near $0.25; Makes Big Move Relative to Two Week Trend, Breaks Above 20 Day Average, Heads Up For the 3rd Consecutive Day

The Hourly View for XLM

Last Updated July 23, 2021, 17:17 GMT

At the moment, Stellar’s price is down $0 (-0.08%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Stellar has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Stellar. Given that we see downtrend on the 20, 10 and 5 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 closed the day prior up 15.61% ($0.0356); this denotes the 3rd consecutive day an increase has occurred. As for how volume fared, yesterday’s volume was up 105.86% from the previous day (Wednesday), and up 151.15% from Thursday of the week before. On a relative basis, the day prior was pretty good: Stellar bested all 7 of the assets in the Top Cryptos class 🙂 Let’s take a look at the daily price chart of Stellar.

Stellar Technical Analysis

First things first: 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. For additional context, note that price has gone up 7 out of the past 14 days.