HomeAltcoin NewsStellar Lumen (XLM) Price Could Accelerate Lower Unless It Clears This Hurdle

Stellar Lumen (XLM) Price Could Accelerate Lower Unless It Clears This Hurdle

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  • Stellar lumen price is gaining pace below the $0.125 support zone against the US Dollar.
  • XLM price is now trading below $0.122 and the 55 simple moving average (4 hours).
  • There is a connecting bearish trend line forming with resistance near $0.1220 on the 4-hour chart (data feed via Kraken).
  • The pair could extend its decline below the $0.1185 support zone in the near term.

Stellar lumen price is trading below $0.1220 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1185 support.

Stellar Lumen Price Analysis (XLM to USD)

In the past few sessions, Stellar Lumen price struggled to climb above the $0.1280 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

A high was formed near $0.1281 before there was a fresh decline. There was a move below the $0.1250 and $0.1220 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $0.1156 swing low to the $0.1281 high.

XLM is now trading below $0.122 and the 55 simple moving average (4 hours). There is also a connecting bearish trend line forming with resistance near $0.1220 on the 4-hour chart.

Immediate resistance is near the $0.1210 level. The next key resistance is seen near the $0.125 level. A clear upside break above the $0.125 zone might send the price toward $0.138. Any more gains could lead the price toward the $0.142 level.

If not, the price might continue to move down. Initial support on the downside is near the $0.1185 level or the 76.4% Fib retracement level of the upward move from the $0.1156 swing low to the $0.1281 high.

The next major support is $0.1145. Any more losses could lead the price toward the $0.1105 level in the near term, below which the price might even test $0.1050.

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

The chart indicates that XLM price is now trading below $0.122 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.125 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 – $0.1185 and $0.1145.

Key Resistance Levels – $0.1210, $0.1250, and $0.1380.

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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