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HomeAltcoin NewsStellar Lumen (XLM) Price Could Recover If It Clears $0.10

Stellar Lumen (XLM) Price Could Recover If It Clears $0.10

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  • Stellar lumen price is struggling below the $0.100 resistance zone against the US Dollar.
  • XLM price is now trading below $0.0980 and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.0980 on the 4-hour chart (data feed via Kraken).
  • The pair could start a recovery wave if it clears the $0.100 resistance.

Stellar lumen price is trading below $0.100 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it stays below $0.100 for a long time.

Stellar Lumen Price Analysis (XLM to USD)

After a major decline below $0.100, Stellar Lumen price attempted a recovery wave against the US Dollar. The XLM/USD pair climbed above $0.0950 but it failed to extend gains.

It resumed its decline and traded below the $0.0918 support. A low is formed near $0.0902 and the price is now attempting a fresh recovery wave. It was able to clear the 23.6% Fib retracement level of the downward move from the $0.1090 swing high to the $0.0902 low.

XLM is still trading below $0.0980 and the 55 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.0980 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.0965 level. The next major resistance is near the $0.0980 zone and the trend line. The first major resistance is near the $0.100 level or the 61.8% Fib retracement level of the downward move from the $0.1090 swing high to the $0.0902 low.

A clear upside break above the $0.100 zone might send the price toward $0.1080. Any more gains could lead the price toward the $0.1120 level or even $0.1200.

Initial support on the downside is near the $0.0918 level. The main support is near the $0.090 zone. Any more losses could lead the price toward the $0.0865 level in the near term, below which the price might even retest $0.0850.

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

The chart indicates that XLM price is now trading below $0.0980 and the 55 simple moving average (4 hours). Overall, the price could start a major decline if there is a clear move below the $0.090 support.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is gaining momentum in the bearish zone.

4 hours RSI – The RSI for XLM/USD is now below the 50 level.

Key Support Levels – $0.0920 and $0.090.

Key Resistance Levels – $0.0965, $0.0980, and $0.100.

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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