• Stellar lumen price started a decent increase above the $0.2800 resistance against the US Dollar.
  • XLM price is now trading near $0.2800 and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.2760 on the 4-hours chart (data feed via Kraken).
  • The pair is likely to start another increase as long as it is above the $0.2700 support zone.

Stellar lumen price is showing positive signs above $0.2700 against the US Dollar, similar to bitcoin. XLM price could gain pace if it clears the $0.2950 and $0.3000 levels.

Stellar Lumen Price Analysis (XLM to USD)

After a close above the $0.2500 pivot zone, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.2800 resistance level to move into a positive zone.

The price even rallied above the $0.3000 barrier and the 55 simple moving average (4-hours). The bulls were able to push the price above the $0.3120 level. A high was formed near $0.3133 before the price started a downside correction.

There was a break below the $0.3000 support level. It traded below the 50% Fibonacci retracement level of the upward move from the $0.2646 swing low to $0.3133 high.

It is now trading near $0.2800 and the 55 simple moving average (4-hours). The 61.8% Fibonacci retracement level of the upward move from the $0.2646 swing low to $0.3133 high is acting as a support. There is also a major bullish trend line forming with support near $0.2760 on the 4-hours chart.

A downside break below the trend line support and $0.2700 might call for more losses. The next major support is near the $0.2500 zone.

On the upside, the $0.2950 level is an immediate resistance. The first major resistance is near the $0.3000 zone. If there is a clear break above the $0.3000 resistance zone, the price could start another steady increase. The next key resistance is near the $0.3250 level. Any more gains could set the pace for a larger increase in the coming sessions towards $0.3500.

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading near $0.2800 and the 55 simple moving average (4-hours). Overall, the price is likely to start another increase as long as it is above the $0.2700 support zone.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is slowly losing momentum in the bearish zone.

4 hours RSI – The RSI for XLM/USD is currently below the 50 level.

Key Support Levels – $0.2700 and $0.2500.

Key Resistance Levels – $0.2950, $0.3000 and $0.3250.

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