- Stellar lumen price is gaining pace below the $0.132 support zone against the US Dollar.
- XLM price is now trading just above $0.125 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.1245 on the 4-hour chart (data feed via Kraken).
- The pair could extend its decline below the $0.1245 support zone in the near term.
Stellar lumen price is trading below $0.1350 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1245 support.
Stellar Lumen Price Analysis (XLM to USD)
In the past few sessions, Stellar Lumen price struggled to climb above the $0.1380 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.
A high was formed near $0.1382 before there was a fresh decline. There was a move below the $0.1350 and $0.1320 levels. The bears flushed the price below the 50% Fib retracement level of the upward move from the $0.1146 swing low to the $0.1382 high.
XLM is now trading just above $0.125 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1245 on the 4-hour chart.
Immediate resistance is near the $0.1300 level. The next key resistance is seen near the $0.132 level. A clear upside break above the $0.132 zone might send the price toward $0.135. Any more gains could lead the price toward the $0.140 level. If not, the price might continue to move down.
Initial support on the downside is near the $0.1245 level or the trend line or the 61.8% Fib retracement level of the upward move from the $0.1146 swing low to the $0.1382 high.
The next major support is $0.1200. Any more losses could lead the price toward the $0.1145 level in the near term, below which the price might even retest $0.1120.
The chart indicates that XLM price is now trading just above $0.125 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.132 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 – $0.1245 and $0.1200.
Key Resistance Levels – $0.1300, $0.1320, and $0.1380.
