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HomeAltcoin NewsStellar Lumen (XLM) Price Could Gain Momentum If It Clears $0.12

Stellar Lumen (XLM) Price Could Gain Momentum If It Clears $0.12

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  • Stellar lumen price is attempting a fresh increase from the $0.1020 zone against the US Dollar.
  • XLM price is now trading above $0.1100 and the 55 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance at $0.1140 on the 4-hour chart (data feed via Kraken).
  • The pair could accelerate higher if there is a clear move above the $0.120 resistance zone.

Stellar lumen price is trading in a positive zone above $0.1100 against the US Dollar, like Bitcoin. XLM price must clear $0.1050 to gain bullish momentum.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.100 zone, Stellar lumen price started a decent increase against the US Dollar. The XLM/USD pair traded above the $0.1080 resistance to move into a positive zone.

There was a break above a key bearish trend line with resistance at $0.1100 on the 4-hour chart. The price cleared the 50% Fib retracement level of the downward move from the $0.1367 swing high to the $0.0915 low. XLM is now trading above $0.1100 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.1195 zone. It is near the 61.8% Fib retracement level of the downward move from the $0.1367 swing high to the $0.0915 low. The next major resistance is near the $0.1200 level.

A clear move above the $0.1200 level might send the price toward the $0.1250 zone. Any more gains could lead the price toward the $0.1350 level or even $0.1380.

Initial support on the downside is near the $0.110 level. The main support is near the $0.1050 zone. Any more losses could lead the price toward the $0.1020 level in the near term, below which the price might even retest $0.100.

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

The chart indicates that XLM price is now trading above $0.110 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.120 resistance zone.

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 – $0.1100 and $0.1050.

Key Resistance Levels – $0.1195, $0.1200, and $0.1250.

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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