HomeAltcoin NewsStellar Lumen (XLM) Price Could Surge If It Clears $0.090

Stellar Lumen (XLM) Price Could Surge If It Clears $0.090

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  • Stellar lumen price is attempting a fresh increase from the $0.085 zone against the US Dollar.
  • XLM price is now trading above $0.0880 and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.0888 on the 4-hour chart (data feed via Kraken).
  • The pair could start a major increase if there is a clear move above the $0.0900 resistance zone.

Stellar lumen price is trading above $0.0850 against the US Dollar, similar to Bitcoin. XLM price must clear $0.090 to start a major increase.

Stellar Lumen Price Analysis (XLM to USD)

This past week, Stellar lumen price saw a bearish reaction from the $0.0900 zone against the US Dollar. The XLM/USD pair traded below the $0.0850 support and the 55 simple moving average (4 hours).

The bears were able to push the price below the $0.0832 level. A low was formed near $0.0827 and the price is now attempting a fresh increase. It was able to rise back above the $0.0850 resistance. The price is now testing the 50% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0827 low.

XLM is now trading above $0.0850 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.0888 zone.

There is also a major bearish trend line forming with resistance near $0.0888 on the 4-hour chart. The next major resistance is near the $0.0900 level. It is near the 61.8% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0827 low.

A clear move above the $0.090 level might send the price toward the $0.0950 level. Any more gains could lead the price toward the $0.1000 level or even $0.1050.

Initial support on the downside is near the $0.0880 level. The main support is near the $0.0850 zone. Any more losses could lead the price towards the $0.0825 level in the near term, below which the price might even retest $0.080.

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

The chart indicates that XLM price is now trading above $0.0850 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.0900 resistance zone.

Technical Indicators

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

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

Key Support Levels – $0.0880 and $0.0850.

Key Resistance Levels – $0.0888, $0.090, and $0.1000.

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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