Stellar Lumen (XLM) Price Could Accelerate Lower Unless It Clears This Hurdle

• Stellar lumen price is gaining pace below the $0.125 support zone against the US Dollar.
• XLM price is now trading below $0.122 and the 55 simple moving average (4 hours).
• There is a connecting bearish trend line forming with resistance near $0.1220 on the 4-hour chart (data feed via Kraken).
• The pair could extend its decline below the $0.1185 support zone in the near term.

Stellar lumen price is trading below $0.1220 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1185 support.

Stellar Lumen Price Analysis (XLM to USD)

In the past few sessions, Stellar Lumen price struggled to climb above the $0.1280 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

A high was formed near $0.1281 before there was a fresh decline. There was a move below the $0.1250 and $0.1220 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $0.1156 swing low to the $0.1281 high.

XLM is now trading below $0.122 and the 55 simple moving average (4 hours). There is also a connecting bearish trend line forming with resistance near $0.1220 on the 4-hour chart.

Immediate resistance is near the $0.1210 level. The next key resistance is seen near the $0.125 level. A clear upside break above the $0.125 zone might send the price toward $0.138. Any more gains could lead the price toward the $0.142 level.

If not, the price might continue to move down. Initial support on the downside is near the $0.1185 level or the 76.4% Fib retracement level of the upward move from the $0.1156 swing low to the $0.1281 high.

The next major support is $0.1145. Any more losses could lead the price toward the $0.1105 level in the near term, below which the price might even test $0.1050.

The chart indicates that XLM price is now trading below $0.122 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.125 resistance.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is gaining momentum in the bearish zone.

4 hours RSI – The RSI for XLM/USD is now below the 50 level.

Key Support Levels – $0.1185 and $0.1145.

Key Resistance Levels – $0.1210, $0.1250, and $0.1380.