HomeAltcoin NewsStellar Lumen (XLM) Price Aims Fresh Increase To $0.18

Stellar Lumen (XLM) Price Aims Fresh Increase To $0.18

Date:

Related stories

It’s Not Just Degens, Institutions Love Memecoins Too

In a report released by Bybit on June 4,...

Bitpanda and Deutsche Bank Take their Relationship to the Next Level

Bitpanda, one of the leading European crypto trading and...

Solana (SOL) Price Analysis: Dips Attractive Near $135

Solana price started a downside correction from the...
spot_imgspot_img
  • Stellar lumen price is attempting a fresh increase from the $0.14 zone against the US Dollar.
  • XLM price is now trading above $0.150 and the 55 simple moving average (4 hours).
  • There was a break above a major bearish trend line with resistance near $0.145 on the 4-hour chart (data feed via Kraken).
  • The pair could start a major increase if there is a clear move above the $0.1650 resistance zone.

Stellar lumen price is trading above $0.150 against the US Dollar, similar to Bitcoin. XLM price must clear $0.1650 to start a fresh increase.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, Stellar lumen price saw a downside correction below the $0.180 level against the US Dollar. The XLM/USD pair traded below the $0.165 support and tested the $0.140 zone.

A low is formed near $0.1404 and the price is now attempting a recovery wave. There was a break above the $0.145 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $0.145 on the 4-hour chart.

The price climbed above the 50% Fib retracement level of the downward move from the $0.1807 swing high to the $0.1404 low. XLM is now trading above $0.150 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.165 zone. It is close to the 61.8% Fib retracement level of the downward move from the $0.1807 swing high to the $0.1404 low. The next major resistance is near the $0.180 level.

A clear move above the $0.180 level might send the price toward the $0.192 level. Any more gains could lead the price toward the $0.200 level or even $0.2150.

Initial support on the downside is near the $0.1520 level. The main support is near the $0.140 zone. Any more losses could lead the price toward the $0.1250 level in the near term, below which the price might even retest $0.1120.

Stellar Lumen (XLM) Price
Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading above $0.150 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1650 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 near the 50 level.

Key Support Levels – $0.1520 and $0.1400.

Key Resistance Levels – $0.165, $0.180, and $0.200.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img