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HomeAltcoin NewsStellar Lumen (XLM) Price Could Continue Higher Above $0.1000

Stellar Lumen (XLM) Price Could Continue Higher Above $0.1000

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  • Stellar lumen price traded as low as $0.0761 and recently corrected higher against the US Dollar.
  • XLM price broke the $0.0880 and $0.0900 resistance levels to start the recent recovery.
  • There was a break above a key bearish trend line with resistance near $0.0915 on the 4-hours chart (data feed via Kraken).
  • The pair could rise towards $0.1000 and $0.1100 as long as it stays above the $0.0850 support.

Stellar lumen price is currently recovering, but struggling near $0.1000 against the US Dollar. XLM price might soon surpass $0.1000 unless it breaks the $0.0850 support area.

Stellar Lumen Price Analysis (XLM to USD)

This past week, stellar lumen price remained in a bearish zone below the $0.1000 support level against the US Dollar. The XLM/USD pair traded below the $0.0900 support level and settled well below the 55 simple moving average (4-hours). Finally, there was a break below the $0.0800 support and the price traded to a new multi-week low at $0.0761. Later, the price started an upside correction and broke the $0.0800 resistance.

Moreover, there was a break above the $0.0900 resistance and the 55 simple moving average (4-hours). There was even a break above a key bearish trend line with resistance near $0.0915 on the 4-hours chart. The pair climbed above $0.0950 and traded close to the $0.1000 resistance level. A swing high was formed near $0.0983 and the price corrected below the 23.6% Fibonacci retracement level of the last wave from the $0.0761 low to $0.0983 high.

However, the broken trend and the 55 simple moving average (4-hours) is currently acting as a support near $0.0910. The next key support is near the $0.0880 level. Moreover, the 50% Fibonacci retracement level of the last wave from the $0.0761 low to $0.0983 high is near the $0.0872 level to provide support in the coming sessions. However, the main support is at $0.0850, below which the price may move back into a bearish zone.

On the upside, the main resistances are near $0.0980 and $0.1000. If there is a successful close above $0.1000, the price might continue to accelerate towards the $0.1065 and $0.1100 levels.

Stellar Lumen Price Analysis (XLM to USD) Chart

The chart indicates that XLM price is trading above the key $0.0900 and $0.0850 support levels. As long as the price is above the $0.0850 support level, there are chances of more gains. If the bulls fail to gain momentum, the price could drop back towards the $0.0750 level.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is currently just above the 50 level, with a positive angle.

Key Support Levels – $0.0900 and $0.0850.

Key Resistance Levels – $0.0980, $0.1000 and $0.1065.

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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