• Stellar lumen price is currently holding the $0.0980 and $0.1000 support levels against the US Dollar.
  • XLM price is facing many hurdles near the 55 simple moving average (4-hours) and $0.1080.
  • There is a key bearish trend line forming with resistance near $0.1024 on the 4-hours chart (data feed via Kraken).
  • The pair could move into a bullish zone if it clears the $0.1050 and $0.1080 resistance levels.

Stellar lumen price is holding a couple of key supports against the US Dollar, similar to bitcoin. XLM price must clear the $0.1080 resistance to move into a positive zone.

Stellar Lumen Price Analysis (XLM to USD)

This past week, stellar lumen price started a steady decline from well above $0.1100 against the US Dollar. The XLM/USD pair broke the key $0.1080 pivot level to move into a bearish zone.

There was also a break below the $0.1000 support level and the price settled below the 55 simple moving average (4-hours). A low is formed near $0.0969 and the price is currently recovering higher. The price is trading above $0.1000, but it is facing a couple of key hurdles.

There is a key bearish trend line forming with resistance near $0.1024 on the 4-hours chart. The trend line is close to the 23.6% Fibonacci retracement level of the recent decline from the $0.1191 high to $0.0969 low.

The first major resistance is near the $0.1060 level and the 55 simple moving average (4-hours). The main resistance is still near the $0.1080 pivot level. It is close to the 50% Fibonacci retracement level of the recent decline from the $0.1191 high to $0.0969 low.

A successful break above the $0.1050 and $0.1080 resistance levels is must for a fresh increase in the near term. In the mentioned case, the price might continue to rise towards the $0.1200 resistance level.

Conversely, the price might fail to continue higher above $0.1040 or $0.1050. The main support is near the $0.0980 level, below which the price might continue to decline towards $0.0880 support.

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is clearly attempting an upside break above $0.1020. Overall, the price could move into a bullish zone if it clears the $0.1050 and $0.1080 resistance levels.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is currently rising and it is likely to settle above the 50 level.

Key Support Levels – $0.1000 and $0.0980.

Key Resistance Levels – $0.1040, $0.1050 and $0.1080.

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