- Stellar lumen price started a fresh increase from the $0.132 support against the US Dollar.
- XLM price is now trading above $0.1350 and the 55 simple moving average (4-hours).
- There is a major bullish trend line forming with support near $0.1465 on the 4-hours chart (data feed via Kraken).
- The pair could continue to rise if it clears the $0.1520 resistance zone in the near term.
Stellar lumen price is slowly gaining pace above $0.1400 against the US Dollar, similar to bitcoin. XLM price must clear $0.1520 to continue higher.
Stellar Lumen Price Analysis (XLM to USD)
Earlier, stellar lumen price saw a fresh decline from the $0.1540 resistance against the US Dollar. The XLM/USD pair traded below the $0.1450 support level to enter a bearish zone.
There was a clear move below the $0.1400 level and the 55 simple moving average (4-hours). The bears were able to push the price below the $0.1380 support zone. A low is formed near $0.1331 and the price is now correcting losses.
There was a move above the $0.1400 and $0.1220 resistance levels. The price cleared the 50% Fib retracement level of the key decline from the $0.1536 swing high to $0.1331 low.
On the upside, the price is facing resistance near the $0.1488 zone. It is near the 76.4% Fib retracement level of the key decline from the $0.1536 swing high to $0.1331 low. The next major resistance is near the $0.1520 level. A clear move above the $0.1520 level might send the price towards the $0.1650 level.
Any more gains could lead the price towards the $0.1800 level. An initial support on the downside is near the $0.1465 level. There is also a major bullish trend line forming with support near $0.1465 on the 4-hours chart.
The main support is near the $0.1400 zone and the 55 simple moving average (4-hours). Any more losses could lead the price towards the $0.1320 level in the near term, below which the price might even test $0.1200.
The chart indicates that XLM price is now trading above $0.1350 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it clears the $0.1520 resistance zone in the near term.
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 – $0.1465 and $0.1400.
Key Resistance Levels – $0.1500, $0.1520 and $0.1800.
