- Stellar lumen price is attempting a fresh increase from the $0.1240 zone against the US Dollar.
- XLM price is now trading below $0.140 and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $0.1325 on the 4-hour chart (data feed via Kraken).
- The pair could accelerate higher if there is a clear move above the $0.1325 resistance zone.
Stellar lumen price is trading in a positive zone above $0.1240 against the US Dollar, like Bitcoin. XLM price must clear $0.1325 to gain bullish momentum.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, Stellar lumen price saw a minor rejection near the $0.1620 zone against the US Dollar. The XLM/USD pair traded below the $0.1400 support and tested the $0.1240 zone.
A low was formed near $0.1241 and the price is now attempting a fresh increase. There was a break above the $0.12030 resistance zone. The price tested the 23.6% Fib retracement level of the downward move from the $0.1624 swing high to the $0.1241 low.
XLM is now trading below $0.140 and the 55 simple moving average (4 hours). The bulls are now attempting a close above a key bearish trend line forming with resistance near $0.1325 on the 4-hour chart.
On the upside, the price is facing resistance near the $0.1325 zone. The next major resistance is near the $0.1440 level or the 50% Fib retracement level of the downward move from the $0.1624 swing high to the $0.1241 low. A clear move above the $0.1440 level might send the price toward the $0.160 zone. Any more gains could lead the price toward the $0.1650 level or even $0.170.
Initial support on the downside is near the $0.1240 level. The main support is near the $0.1150 zone. Any more losses could lead the price toward the $0.1040 level in the near term, below which the price might even retest $0.100.
The chart indicates that XLM price is now trading below $0.140 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1325 resistance zone.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is losing momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.1240 and $0.1150.
Key Resistance Levels – $0.1325, $0.1440, and $0.160.
