HomeAltcoin NewsStellar Lumen (XLM) Price Aims Larger Increase To $0.28

Stellar Lumen (XLM) Price Aims Larger Increase To $0.28

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  • Stellar lumen price started a fresh increase above the $0.20 zone against the US Dollar.
  • XLM price is now trading above $0.2200 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.2065 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to rise if there is a clear break above $0.2300.

Stellar lumen price is trading in a positive zone above $0.2000 against the US Dollar, similar to bitcoin. XLM price must settle above $0.2300 to continue higher.

Stellar Lumen Price Analysis (XLM to USD)

After a major decline, stellar lumen price found support near the $0.1680 zone against the US Dollar. The XLM/USD pair started a decent increase above the $0.1700 and $0.1750 resistance levels.

The pair gained pace after it cleared the $0.2000 and $0.2020 levels. Besides, there was a break above a major bearish trend line with resistance near $0.2065 on the 4-hours chart. The pair even broke the 38.2% Fib retracement level of the downward move from the $0.2915 swing high to $0.1678 low.

It is now trading above $0.2000 and the 55 simple moving average (4-hours). An immediate resistance is near the $0.3000 level. It is near the 50% Fib retracement level of the downward move from the $0.2915 swing high to $0.1678 low.

The next key resistance is near the $0.2450 level. Any more gains could lead the price towards the $0.2800 level. If there is no upside break above $0.2450, the price could correct lower.

An immediate support on the downside is near the $0.2120 level. The next major support is near the $0.2065 level and the 55 simple moving average (4-hours). Any more losses could lead the price towards the $0.2000 level, where the bulls might take a stand. If they fail, the price may perhaps revisit the $0.1680 support zone.

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

The chart indicates that XLM price is now trading above $0.2000 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if there is a clear break above $0.2300 in the near term.

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 60 level.

Key Support Levels – $0.2065 and $0.2000.

Key Resistance Levels – $0.2300, $0.2450 and $0.2800.

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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.

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