- Stellar lumen price started a fresh decline from the $0.132 resistance zone against the US Dollar.
- XLM price is now trading above $0.1160 and the 55 simple moving average (4-hours).
- There was a break below a key bullish trend line with support at $0.1182 on the 4-hours chart (data feed via Kraken).
- The pair could start a major increase if there is a clear move above the $0.1200 resistance zone.
Stellar lumen price is trading below $0.1200 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1150 support to avoid more losses.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price saw a bearish reaction from the $0.1320 zone against the US Dollar. The XLM/USD pair traded below the $0.1250 support and the 55 simple moving average (4-hours).
The bears were able to push the price below the $0.1220 and $0.1200 support levels. The price declined below the 50% Fib retracement level of the upward move from the $0.1092 swing low to $0.1328 high. Besides, there was a break below a key bullish trend line with support at $0.1182 on the 4-hours chart.
XLM is now trading above $0.1160 and the 55 simple moving average (4-hours). An initial support on the downside is near the $0.1160 level. The main support is near the $0.1150 zone.
The 76.4% Fib retracement level of the upward move from the $0.1092 swing low to $0.1328 high is also near $0.1148. Any more losses could lead the price towards the $0.1100 level in the near term, below which the price might even retest $0.1050.
On the upside, the price is facing resistance near the $0.1182 zone. The next major resistance is near the $0.1200 level. A clear move above the $0.1200 level might send the price towards the $0.1320 level. Any more gains could lead the price towards the $0.1400 level or even $0.1500.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading above $0.1160 and the 55 simple moving average (4-hours). Overall, the price could start a major increase if there is a clear move above the $0.1200 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 – $0.1150 and $0.1100.
Key Resistance Levels – $0.1182, $0.1200 and $0.1320.
Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-could-start-fresh-rally-to-0-132/