Stellar (XLM) Price Near $0.27; in a Downtrend Over Past 90 Days, Pin Bar Pattern Appearing on Chart, 3 Day Down Streak Ended

The Hourly View for XLM

Last Updated July 28, 2021, 17:17 GMT

Currently, Stellar’s price is down $0 (-0.69%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on XLM; it is now pointing down. 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 is up 1% ($0.0026) since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. The change in price came along side change in volume that was down 35.22% from previous day, but up 2.63% from the Tuesday of last week. On a relative basis, Stellar was the worst performer out of all 7 of the assets in the Top Cryptos asset class during yesterday. Here is a daily price chart of Stellar.

Stellar Technical Analysis

The first thing we should note is that the current price of Stellar is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Stellar’s price has gone up 5 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!