HomeAltcoin NewsStellar Lumen (XLM) Price Could Take Hit Unless It Clears This Hurdle

Stellar Lumen (XLM) Price Could Take Hit Unless It Clears This Hurdle

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  • Stellar lumen price is struggling to clear the $0.1265 resistance zone against the US Dollar.
  • XLM price is now trading above $0.1185 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support at $0.1185 on the 4-hour chart (data feed via Kraken).
  • The pair could extend its decline below the $0.1145 support zone in the near term.

Stellar lumen price is trading below $0.1265 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1145 support.

Stellar Lumen Price Analysis (XLM to USD)

In the past few sessions, Stellar Lumen price struggled to climb above the $0.1265 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

There was a move below the $0.1220 and $0.1200 levels. The decline gained pace below the $0.1180 level. A low was formed near $0.1162, and the price is now consolidating losses. There is also a key bullish trend line forming with support at $0.1185 on the 4-hour chart.

XLM is now trading above $0.1185 and the 55 simple moving average (4 hours). Immediate resistance is near the $0.1215 level. It is close to the 50% Fib retracement level of the downward move from the $0.1262 swing high to the $0.1162 low.

The next key resistance is seen near the $0.1240 level or the 76.4% Fib retracement level of the downward move from the $0.1262 swing high to the $0.1162 low. A clear upside break above the $0.1240 zone might send the price toward $0.1300.

Any more gains could lead the price toward the $0.135 level. If not, the price might continue to move down. Initial support on the downside is near the $0.1185 level. The next major support is $0.1145. Any more losses could lead the price toward the $0.1100 level in the near term, below which the price might even test $0.1050.

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

The chart indicates that XLM price is now trading above $0.1185 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.1240 resistance.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is losing momentum in the bearish zone.

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

Key Support Levels – $0.1185 and $0.1145.

Key Resistance Levels – $0.1220, $0.1240, and $0.1300.

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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