- Stellar lumen price is rising toward the $0.1165 resistance zone against the US Dollar.
- XLM price is now trading above $0.1075 and the 55 simple moving average (4 hours).
- There is a short-term rising channel forming with support near $0.1100 on the 4-hour chart (data feed via Kraken).
- The pair could start another increase if it clears the $0.1125 and $0.1165 resistance levels.
Stellar lumen price is trading above $0.1080 against the US Dollar, like bitcoin. XLM price must stay above the $0.1060 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.1020 level, Stellar Lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1050 resistance zone to move into a positive zone.
The price even cleared the $0.1100 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.1125 before the bears appeared. A high was formed near $0.1126 and the price is now consolidating gains.
XLM is now trading above $0.1075 and the 55 simple moving average (4 hours). There is also a short-term rising channel forming with support near $0.1100 on the 4-hour chart.
The price is also stable above the 23.6% Fib retracement level of the upward move from the $0.1020 swing low to the $0.1126 high. On the upside, the price is facing resistance near the $0.1125 zone. The next major resistance is near the $0.1165 level.
A clear move above the $0.1165 level might send the price toward the $0.120 level. Any more gains could lead the price toward the $0.1250 level or even $0.1265 in the coming sessions.
Initial support on the downside is near the $0.1100 level and the channel trend line. The next major support sits near the $0.1072 level or the 50% Fib retracement level of the upward move from the $0.1020 swing low to the $0.1126 high.
The main support is near the $0.1060 zone. Any more losses could lead the price toward the $0.1020 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 – $0.1100 and $0.1060.
Key Resistance Levels – $0.1125, $0.1165, and $0.1200.
