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HomeAltcoin NewsStellar Lumen (XLM) Price Could Rally Further above $0.12

Stellar Lumen (XLM) Price Could Rally Further above $0.12

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  • Stellar lumen price is rising toward the $0.120 resistance zone against the US Dollar.
  • XLM price is now trading above $0.10 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.100 on the 4-hour chart (data feed via Kraken).
  • The pair could start another increase if it clears the $0.115 and $0.120 resistance levels.

Stellar lumen price is trading above $0.10 against the US Dollar, similar to Bitcoin. XLM price must stay above the $0.120 support to rise further.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.075 level, Stellar Lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.088 resistance zone to move into a positive zone.

The price even cleared the $0.0950 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spike to $0.1180 before the bears appeared. A high was formed near $0.1177 and the price is now consolidating gains.

XLM is now trading above $0.10 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.100 on the 4-hour chart.

The price is also stable above the 23.6% Fib retracement level of the upward move from the $0.0752 swing low to the $0.1177 high. On the upside, the price is facing resistance near the $0.114 zone. The next major resistance is near the $0.118 level.

A clear move above the $0.118 level might send the price toward the $0.120 level. Any more gains could lead the price toward the $0.1250 level or even $0.1320 in the coming sessions.

Initial support on the downside is near the $0.100 level and the trend line. The next major support sits near the $0.0965 level or the 50% Fib retracement level of the upward move from the $0.0752 swing low to the $0.1177 high.

The main support is near the $0.092 zone. Any more losses could lead the price toward the $0.085 level in the near term.

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

The chart indicates that XLM price is now trading above $0.10 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.114 and $0.12 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 – $0.100 and $0.0965.

Key Resistance Levels – $0.115, $0.120, and $0.132.

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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