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HomeAltcoin NewsStellar Lumen (XLM) Price Could Restart Increase above $0.142

Stellar Lumen (XLM) Price Could Restart Increase above $0.142

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  • Stellar lumen price is attempting a fresh increase from the $0.125 zone against the US Dollar.
  • XLM price is now trading above $0.120 and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.134 on the 4-hour chart (data feed via Kraken).
  • The pair could start a major increase if there is a clear move above the $0.1420 resistance zone.

Stellar lumen price is trading above $0.1250 against the US Dollar, similar to Bitcoin. XLM price must clear $0.1420 to start a fresh increase.

Stellar Lumen Price Analysis (XLM to USD)

This past week, Stellar lumen price saw a major rally above the $0.10 resistance against the US Dollar. The XLM/USD pair rallied above $0.150 before it started a downside correction.

It traded as high as $0.1970 before the price dipped below $0.1500. A low is formed near $0.1254 and the price is now consolidating losses. It is now trading above $0.120 and the 55 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.134 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.134 zone and the trend line. The next major resistance is near the $0.1420 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1970 swing high to the $0.1254 low.

A clear move above the $0.1420 level might send the price toward the $0.160 level. It is near the 50% Fib retracement level of the downward move from the $0.1970 swing high to the $0.1254 low.

Any more gains could lead the price toward the $0.180 level or even $0.1950. Initial support on the downside is near the $0.1250 level. The main support is near the $0.120 zone. Any more losses could lead the price toward the $0.1085 level in the near term, below which the price might even retest $0.100.

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

The chart indicates that XLM price is now trading above $0.1250 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1420 resistance zone.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is losing momentum in the bullish zone.

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

Key Support Levels – $0.1250 and $0.120.

Key Resistance Levels – $0.135, $0.1420, and $0.1600.

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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