HomeAltcoin NewsStellar Lumen (XLM) Price Could Surge Past $0.13

Stellar Lumen (XLM) Price Could Surge Past $0.13

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  • Stellar lumen price started a fresh increase above the $0.1250 resistance zone against the US Dollar.
  • XLM price is now trading above $0.1250 and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.1260 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to rise if it stays above the $0.1250 and $0.1220 support levels.

Stellar lumen price is trading above $0.1250 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1220 support to rise further.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.1180 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1200 resistance zone to move into a positive zone.

The price even broke the $0.1220 resistance and the 55 simple moving average (4-hours). It even cleared the $0.1250 resistance zone. It surpassed the 23.6% Fib retracement level of the downward move from the $0.1382 swing high to $0.1194 low.

XLM is also trading above $0.1250 and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.1288 zone. It is near the 50% Fib retracement level of the downward move from the $0.1382 swing high to $0.1194 low.

The next major resistance is near the $0.1300 level. A clear move above the $0.1300 level might send the price towards the $0.1350 level. Any more gains could lead the price towards the $0.1420 level or even $0.1450 in the coming days.

An initial support on the downside is near the $0.1250 level. There is also a major bullish trend line forming with support near $0.1260 on the 4-hours chart. The main support is near the $0.1220 zone. Any more losses could lead the price towards the $0.1200 level in the near term, below which the price might even retest $0.1120.

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 continue to rise if it stays above the $0.1250 and $0.1220 support levels.

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 – $0.1250 and $0.1220.

Key Resistance Levels – $0.1300, $0.1350 and $0.1420.

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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