- 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.
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.
