- Stellar lumen price started a fresh increase from the $0.1000 support 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 major bearish trend line with resistance near $0.1150 on the 4-hours chart (data feed via Kraken).
- The pair could continue to rise if there is a clear move above the $0.1300 resistance zone in the near term.
Stellar lumen price is trading well above $0.1000 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1150 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.1000 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1100 resistance zone to move into a positive zone.
The price even broke the $0.1120 resistance and the 55 simple moving average (4-hours). There was a break above the 50% Fib retracement level of the main drop from the $0.1503 swing high to $0.1000 low. Besides, there was a break above a major bearish trend line with resistance near $0.1150 on the 4-hours chart.
Finally, the price even surpassed the $0.1200 resistance zone. On the upside, the price is facing resistance near the $0.1300 zone. It is near the 61.8% Fib retracement level of the main drop from the $0.1503 swing high to $0.1000 low.
The next major resistance is near the $0.1350 level. A clear move above the $0.1350 level might send the price towards the $0.1400 level. Any more gains could lead the price towards the $0.1500 level.
An initial support on the downside is near the $0.1180 level. The main support is near the $0.1150 zone. Any more losses could lead the price towards the $0.1100 level in the near term, below which the price might even test $0.1000.
The chart indicates that XLM price is now trading above $0.1150 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if there is a clear move above the $0.1300 resistance zone in the near term.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is losing momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now above the 50 level.
Key Support Levels – $0.1180 and $0.1150.
Key Resistance Levels – $0.1300, $0.1350 and $0.1400.
