XLM/USD Retail Market Structure: Q1 2021 so far

By idm | Psychologica | 15 Mar 2021

This post examines XLM/USD retail price and volume movement from Jan-01 to Mar-14.


XLM started 2021 below 0.1 USD.

In the first full week of January, very high volume drove the price above 0.35 USD. Subsequently, even higher volume sold the price down below 0.3 USD.

The next week saw XLM trade sideways as the price stubbornly resisted going above 0.3 USD.

The third week of January saw the price slide toward 0.25 USD, trading in a narrow channel just 0.03 USD across.

January closed with massive volume moving at 0.29 USD.  It would appear that 0.3 USD is a price point that is frequently visited by this market.

February opened with a low-volume rally that first saw the price reach 0.4 USD, then saw the price peak above 0.55 USD in the next week.

XLM retraced during the third week of February to the 0.4 USD level, where it began trading sideways in a channel about 0.05 USD wide.

February closed with XML trading on fairly low volume at around 0.42 USD.

March has seen XLM continue trading sideways, treating 0.4 USD as a support level that XLM rarely goes below.

XLM continues to trade within a fairly narrow channel, sometimes 0.01 USD wide but rarely more than 0.05 USD wide.

The second week in March closed with XLM trading at 0.39 USD.

How to read this plot

This plot depicts the movement of XLM quoted in USD, for the year 2021 to date. Data for XLM/USD were collected from Kraken.

The width of the line is proportional to the volume traded during that period. Similarly, lighter colors correspond to higher volume.

The peaks and troughs have been identified. Peaks were connected to form channels containing most of the price action.

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Ian is a computational psychologist who studies memes, crowds, and markets.


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