HomeAltcoin NewsStellar Lumen (XLM) Price Could Recover and Revisit $0.15

Stellar Lumen (XLM) Price Could Recover and Revisit $0.15

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  • Stellar lumen price is attempting a fresh increase from the $0.1108 zone against the US Dollar.
  • XLM price is now trading above $0.1125 and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.1150 on the 4-hour chart (data feed via Kraken).
  • The pair could start a decent increase if there is a clear move above the $0.1150 resistance zone.

Stellar lumen price is trading above $0.1125 against the US Dollar, similar to Bitcoin. XLM price must clear $0.1150 to start a fresh increase.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, Stellar lumen price saw a rejection pattern near the $0.1185 zone against the US Dollar. The XLM/USD pair traded below the $0.1150 support and tested the $0.1100 zone.

A low is formed near $0.1108 and the price is now attempting a recovery wave. There was a break above the $0.1125 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.1187 swing high to the $0.1108 low.

XLM is now trading above $0.1125 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.1150 zone.

There is also a major bearish trend line forming with resistance near $0.1150 on the 4-hour chart. It is close to the 61.8% Fib retracement level of the downward move from the $0.1187 swing high to the $0.1108 low. The next major resistance is near the $0.1185 level.

A clear move above the $0.1185 level might send the price toward the $0.125 level. Any more gains could lead the price toward the $0.132 level or even $0.135.

Initial support on the downside is near the $0.1125 level. The main support is near the $0.1108 zone. Any more losses could lead the price toward the $0.1100 level in the near term, below which the price might even retest $0.1050.

Stellar Lumen Price
Stellar Lumen Price

The chart indicates that XLM price is now trading above $0.1125 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1150 resistance zone.

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 – $0.1125 and $0.1100.

Key Resistance Levels – $0.115, $0.1185, and $0.1250.

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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