- Stellar lumen price is attempting a fresh increase from the $0.2600 zone against the US Dollar.
- XLM price is now trading above $0.2850 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $0.2650 on the 4-hours chart (data feed via Kraken).
- The pair could start a steady upward move if there is a clear break above $0.2950.
Stellar lumen price is trading in a positive zone above $0.2800 against the US Dollar, similar to bitcoin. XLM price must settle above $0.2950 to continue higher.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.2600 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair traded above the $0.2720 level to move into a positive zone.
The pair traded above the 50% Fibonacci retracement level of the downward move from the $0.3063 swing high to $0.2592 low. It is now trading above $0.2850 and the 55 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.2650 on the 4-hours chart.
An immediate resistance on the upside is near the $0.2950 level. It is near the 76.4% Fibonacci retracement level of the downward move from the $0.3063 swing high to $0.2592 low.
The next major resistance is now near $0.3065. If there is a clear break above the $0.3065 resistance zone, the price could start another steady increase. The next key resistance is near the $0.3250 level, above which the price could rise towards the $0.3500 level in the near term.
An immediate support is near the $0.2820 level. The main support is near $0.2650. A downside break below the $0.2650 support might call for more losses. The next major support is near the $0.2500 zone. Any more losses might send the price towards the $0.2220 level.
The chart indicates that XLM price is now trading above $0.2850 and the 55 simple moving average (4-hours). Overall, the price could start a steady upward move if there is a clear break above $0.2950.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is slowly gaining momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now above the 50 level.
Key Support Levels – $0.2820 and $0.2650.
Key Resistance Levels – $0.2950, $0.3000 and $0.3200.