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HomeAltcoin NewsStellar Lumen (XLM) Price Dives 20%, Could Revisit $0.10

Stellar Lumen (XLM) Price Dives 20%, Could Revisit $0.10

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  • Stellar lumen price started a fresh decline from the $0.152 resistance against the US Dollar.
  • XLM price is now trading below $0.1300 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $0.1250 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to decline towards the $0.1000 support zone in the near term.

Stellar lumen price is trading well below $0.1400 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1000 support to avoid a larger decline.

Stellar Lumen Price Analysis (XLM to USD)

After a struggle near the $0.1520 level, stellar lumen price saw a fresh decline against the US Dollar. The XLM/USD pair traded below the $0.1400 support level to enter a bearish zone.

There was a clear move below the $0.1300 level and the 55 simple moving average (4-hours). The bears were able to push the price below the $0.1250 support zone. It even declined below the 76.4% Fib retracement level of the upward move from the $0.1183 swing low to $0.1536 high.

A low is formed near $0.1105 and the price is now consolidating losses. An initial support on the downside is near the $0.1100 level.

The stated support is near the 1.236 Fib extension level of the upward move from the $0.1183 swing low to $0.1536 high. The main support is near the $0.1000 zone. Any more losses could lead the price towards the $0.0850 level in the near term, below which the price might even test $0.080.

On the upside, the price is facing resistance near the $0.1150 zone. The next major resistance is near the $0.1200 level. There is also a major bearish trend line forming with resistance near $0.1250 on the 4-hours chart.

A clear move above the $0.1250 level might send the price towards the $0.1350 level. Any more gains could lead the price towards the $0.1400 level.

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

The chart indicates that XLM price is now trading below $0.1250 and the 55 simple moving average (4-hours). Overall, the price could continue to decline towards the $0.1000 support zone in the near term.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is now below the 30 level.

Key Support Levels – $0.1100 and $0.1000.

Key Resistance Levels – $0.1150, $0.1200 and $0.1250.

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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