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HomeAltcoin NewsStellar Lumen (XLM) Price Could Resume Downtrend Below $0.112

Stellar Lumen (XLM) Price Could Resume Downtrend Below $0.112

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  • Stellar lumen price is struggling below the $0.125 resistance zone against the US Dollar.
  • XLM price is now trading below $0.120 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.123 on the 4-hour chart (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $0.125 resistance.

Stellar lumen price is trading below $0.125 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.112 support.

Stellar Lumen Price Analysis (XLM to USD)

After a sharp decline below $0.112, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair traded below the $0.105 level.

There was also a spike below the $0.102 support zone. A low was formed near $0.100 and the price recently corrected higher. There was a move above the $0.115 and $0.120 levels. However, the bears seem to be active near the $0.135 zone.

A high is formed near $0.1326 and the price is again moving lower. There was a move below the 23.6% Fib retracement level of the upward move from the $0.100 swing low to the $0.1326 high.

XLM is now trading below $0.120 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.123 on the 4-hour chart.

The next key resistance is seen near the $0.125 level. A clear upside break above the $0.125 zone might send the price toward $0.135. Any more gains could lead the price toward the $0.144 level. If not, the price might continue to move down.

Initial support on the downside is near the $0.116 level. The next major support is near the $0.1125 zone or the 61.8% Fib retracement level of the upward move from the $0.100 swing low to the $0.1326 high.

Any more losses could lead the price toward the $0.105 level in the near term, below which the price might even retest $0.1000. The next major support is near $0.095.

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

The chart indicates that XLM price is now trading below $0.125 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.125 resistance.

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 above the 50 level.

Key Support Levels – $0.116 and $0.112.

Key Resistance Levels – $0.125, $0.135, and $0.144.

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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