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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 $0.115 zone against the US Dollar.
  • XLM price is now trading above $0.120 and the 55 simple moving average (4 hours).
  • There was a break above a major bearish trend line with resistance near $0.120 on the 4-hour chart (data feed via Kraken).
  • The pair could start a decent increase if there is a clear move above the $0.1285 resistance zone.

Stellar lumen price is trading above $0.120 against the US Dollar, similar to Bitcoin. XLM price must clear $0.1285 to start a fresh increase.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, Stellar lumen price saw a downside correction below the $0.120 level against the US Dollar. The XLM/USD pair traded below the $0.1165 support and tested the $0.1150 zone.

A low is formed near $0.1141 and the price is now attempting a recovery wave. There was a break above the $0.1165 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $0.120 on the 4-hour chart.

The price climbed above the 50% Fib retracement level of the downward move from the $0.1285 swing high to the $0.1141 low. XLM is now trading above $0.120 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.1250 zone. It is close to the 76.4% Fib retracement level of the downward move from the $0.1285 swing high to the $0.1141 low. The next major resistance is near the $0.1285 level.

A clear move above the $0.1285 level might send the price toward the $0.135 level. Any more gains could lead the price toward the $0.150 level or even $0.1650.

Initial support on the downside is near the $0.1185 level. The main support is near the $0.115 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 (XLM) Price
Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading above $0.120 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1285 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 – $0.1200 and $0.1150.

Key Resistance Levels – $0.1250, $0.1285, and $0.150.

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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