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HomeAltcoin NewsStellar Lumen (XLM) Price Could Surge Again If It Clears $0.21

Stellar Lumen (XLM) Price Could Surge Again If It Clears $0.21

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  • Stellar lumen price is trading in a nice bullish zone well above $0.1500 against the US Dollar.
  • XLM price is facing hurdles near $0.2100, but it is well above the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $0.2080 on the 4-hours chart (data feed via Kraken).
  • The pair could rise sharply if it clears the $0.2000, $0.2080, and $0.2100 resistance levels.

Stellar lumen price is rising again and trading above $0.1800 against the US Dollar, similar to bitcoin above $18K. XLM price is likely to continue higher if it clears $0.2100.

Stellar Lumen Price Analysis (XLM to USD)

In the past few days, stellar lumen price gained pace above the $0.1200 and $0.1500 against the US Dollar. The XLM/USD pair even surged above the $0.2000 resistance and settled well above the 55 simple moving average (4-hours).

The price traded as high as $0.2310 before starting a sharp downside correction. It declined below $0.1800 and retested the $0.1500 support. A low was formed near $0.1452 before the price started a fresh increase.

There was a clear break above the $0.1650 resistance level and the 55 simple moving average (4-hours). The price even broke $0.2000 and traded as high as $0.2203. It is currently correcting gains and trading near the $0.1950 level.

Stellar corrected below the 23.6% Fibonacci retracement level of the recent rise from the $0.1452 low to $0.2203 high. An initial support on the downside is near the $0.1900 level. The first major support is near the $0.1820 level.

The 50% Fibonacci retracement level of the recent rise from the $0.1452 low to $0.2203 high is also near the $0.1820 level to provide support. Any more losses could lead the price towards the $0.1650 support or the 55 simple moving average (4-hours).

On the upside, the price is facing hurdles near the $0.2000 and $0.2100 levels. There is also a major bearish trend line forming with resistance near $0.2080 on the 4-hours chart. If there is upside break above the $0.2000 and $0.2100 resistance levels, the price could continue to grind higher.

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

The chart indicates that XLM price is clearly trading in a nice bullish zone well above $0.1500 and the 55 simple moving average (4-hours). Overall, the price could rise sharply if it clears the $0.2000, $0.2080, and $0.2100 resistance levels.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is showing positive signs in the bullish zone.

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

Key Support Levels – $0.1900 and $0.1820.

Key Resistance Levels – $0.2000, $0.2100 and $0.2320.

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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