HomeAltcoin NewsStellar Lumen (XLM) Price Could Rally Further above $0.135

Stellar Lumen (XLM) Price Could Rally Further above $0.135

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  • 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.

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

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.

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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