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HomeAltcoin NewsStellar Lumen (XLM) Price Could Extend Gains above $0.092

Stellar Lumen (XLM) Price Could Extend Gains above $0.092

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  • Stellar lumen price is facing a major resistance near the $0.0925 zone against the US Dollar.
  • XLM price is now trading above $0.088 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.0905 on the 4-hour chart (data feed via Kraken).
  • The pair could start another increase if it clears the $0.0925 and $0.0932 resistance levels.

Stellar lumen price is trading above $0.0900 against the US Dollar, similar to Bitcoin. XLM price must stay above the $0.0850 support to rise further.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.078 level, Stellar Lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.082 resistance zone to move into a positive zone.

The price even cleared the $0.0850 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spike to $0.0900 before the bears appeared. A high was formed near $0.0923 and the price is now consolidating gains.

XLM is now trading above $0.088 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.0905 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.0925 zone. The next major resistance is near the $0.0932 level. A clear move above the $0.0932 level might send the price toward the $0.098 level. Any more gains could lead the price toward the $0.1020 level or even $0.1120 in the coming sessions.

Initial support on the downside is near the $0.0905 level and the trend line. The next major support sits near the $0.0890 level or the 23.6% Fib retracement level of the upward move from the $0.0782 swing low to the $0.0923 high.

The main support is near the $0.0855 zone or the 50% Fib retracement level of the upward move from the $0.0782 swing low to the $0.0923 high. Any more losses could lead the price toward the $0.082 level in the near term.

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

The chart indicates that XLM price is now trading above $0.088 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.0925 and $0.0932 resistance levels.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is gaining momentum in the bullish zone.

4 hours RSI – The RSI for XLM/USD is now above the 50 level.

Key Support Levels – $0.0905 and $0.0890.

Key Resistance Levels – $0.0925, $0.0932, and $0.100.

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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