HomeAltcoin NewsStellar Lumen (XLM) Price At Risk of Downside Break Below $0.082

Stellar Lumen (XLM) Price At Risk of Downside Break Below $0.082

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  • Stellar lumen price is showing bearish signs below the $0.1000 resistance zone against the US Dollar.
  • XLM price is now trading below $0.0920 and the 55 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $0.0885 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to move down if it breaks the $0.0860 and $0.0835 support levels.

Stellar lumen price is trading below $0.1000 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0820 support to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, stellar lumen price faced sellers near the $0.0920 zone against the US Dollar. The XLM/USD pair formed a high near $0.0920 before it started a fresh decline.

There was a move below the $0.0900 and $0.0885 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $0.0825 swing low to $0.0920 high. Besides, there was a break below a key bullish trend line with support near $0.0885 on the 4-hours chart.

It is now trading below $0.0920 and the 55 simple moving average (4-hours). An initial support on the downside is near the $0.0860 level. It is near the 61.85 Fib retracement level of the upward move from the $0.0825 swing low to $0.0920 high.

The main support is near the $0.0838 zone. Any more losses could lead the price towards the $0.0820 level in the near term, below which the price might even retest $0.0750.

On the upside, the price is facing resistance near the $0.0920 level. The next hurdle could be near the $0.0950 zone or $0.0980. A clear move above the $0.0980 level might send the price towards the $0.1080 level. Any more gains could lead the price towards the $0.1120 level or even $0.1200.

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

The chart indicates that XLM price is now trading below $0.0920 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.0860 and $0.0835 support levels.

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 – $0.0860 and $0.0820.

Key Resistance Levels – $0.0920, $0.0950 and $0.0980.

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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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