- Stellar lumen price is rising toward the $0.150 resistance zone against the US Dollar.
- XLM price is now trading above $0.120 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.1320 on the 4-hour chart (data feed via Kraken).
- The pair could start another increase if it clears the $0.135 and $0.142 resistance levels.
Stellar lumen price is trading above $0.130 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1240 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.1120 level, Stellar Lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1200 resistance zone to move into a positive zone.
The price even cleared the $0.1320 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.1350 before the bears appeared. A high was formed near $0.1346 and the price is now consolidating gains.
XLM is now trading above $0.130 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1320 on the 4-hour chart.
The price is also stable above the 23.6% Fib retracement level of the upward move from the $0.1174 swing low to the $0.1346 high. On the upside, the price is facing resistance near the $0.1350 zone. The next major resistance is near the $0.142 level.
A clear move above the $0.142 level might send the price toward the $0.150 level. Any more gains could lead the price toward the $0.1650 level or even $0.1720 in the coming sessions.
Initial support on the downside is near the $0.1320 level and the trend line. The next major support sits near the $0.1260 level or the 50% Fib retracement level of the upward move from the $0.1174 swing low to the $0.1346 high.
The main support is near the $0.1240 zone. Any more losses could lead the price toward the $0.1150 level in the near term.
The chart indicates that XLM price is now trading above $0.130 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.135 and $0.142 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 – $0.1320 and $0.1240.
Key Resistance Levels – $0.1350, $0.1420, and $0.1500.
