HomeAltcoin NewsStellar Lumen (XLM) Price Could Dive Below $0.10

Stellar Lumen (XLM) Price Could Dive Below $0.10

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  • Stellar lumen price started a fresh decline from the $0.13 resistance zone against the US Dollar.
  • XLM price is now trading below $0.1150 and the 55 simple moving average (4-hours).
  • There was a break below a major bullish trend line with support near $0.1240 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to move down if it breaks the $0.105 and $0.100 support levels.

Stellar lumen price is trading below $0.1250 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1000 support to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.1050 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1250 resistance zone to move into a positive zone.

The price even broke the $0.1320 resistance and the 55 simple moving average (4-hours). Finally, it faced resistance near the $0.1380 zone. XLM started a fresh decline and traded below the $0.1320 support zone. There was a clear move below the $0.1250 support and the 55 simple moving average (4-hours).

Besides, there was a break below a major bullish trend line with support near $0.1240 on the 4-hours chart. The price traded as low as $0.1049 and is currently consolidating losses.

On the upside, the price is facing resistance near the $0.1105 zone. It is near the 23.6% Fib retracement level of the downward move from the $0.1274 swing high to $0.1049 low. The next major resistance is near the $0.1140 level. A clear move above the $0.1140 level might send the price towards the $0.1160 level.

The 50% Fib retracement level of the downward move from the $0.1274 swing high to $0.1049 low is also near $0.1160. Any more gains could lead the price towards the $0.1250 level or even $0.1320 in the coming days.

An initial support on the downside is near the $0.1050 level. The main support is near the $0.1000 zone. Any more losses could lead the price towards the $0.0920 level in the near term, below which the price might even retest $0.0850.

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

The chart indicates that XLM price is now trading below $0.1250 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.105 and $0.100 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 – $0.1050 and $0.1000.

Key Resistance Levels – $0.1120, $0.1150 and $0.1250.

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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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