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HomeAltcoin NewsStellar Lumen (XLM) Price Could Fail To Recover Above $0.135

Stellar Lumen (XLM) Price Could Fail To Recover Above $0.135

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  • Stellar lumen price is struggling below the $0.135 resistance zone against the US Dollar.
  • XLM price is now trading below $0.130 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.131 on the 4-hour chart (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $0.135 resistance.

Stellar lumen price is trading below $0.135 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.120 support.

Stellar Lumen Price Analysis (XLM to USD)

After a sharp decline below $0.135, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair traded below the $0.120 level.

There was also a spike below the $0.105 support zone. A low was formed near $0.100 and the price is now attempting a recovery wave. There was a move above the $0.105 and $0.120 levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.1460 swing high to the $0.1000 low.

However, the bears were active near the $0.13 zone. XLM is now trading below $0.130 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.131 on the 4-hour chart.

The next key resistance is seen near the $0.135 level. It is close to the 76.4% Fib retracement level of the downward move from the $0.1460 swing high to the $0.1000 low. A clear upside break above the $0.135 zone might send the price toward $0.144.

Any more gains could lead the price toward the $0.1525 level. Initial support on the downside is near the $0.124 level. The next major support is near the $0.120 zone.

Any more losses could lead the price toward the $0.1120 level in the near term, below which the price might even retest $0.1050. The next major support is near $0.10.

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

The chart indicates that XLM price is now trading below $0.135 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.135 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 above the 50 level.

Key Support Levels – $0.124 and $0.120.

Key Resistance Levels – $0.131, $0.1350, and $0.145.

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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