HomeAltcoin NewsStellar Lumen (XLM) Price Eyes Fresh Increase Above $0.092

Stellar Lumen (XLM) Price Eyes Fresh Increase Above $0.092

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  • Stellar lumen price started a downside correction from the $0.0945 zone against the US Dollar.
  • XLM price is now trading above $0.090 and the 55 simple moving average (4 hours).
  • There was a break below a key bullish trend line with support near $0.0916 on the 4-hour chart (data feed via Kraken).
  • The pair could start another increase if it clears the $0.092 and $0.094 resistance levels.

Stellar lumen price is trading above $0.090 against the US Dollar, similar to bitcoin. XLM’s price must stay above the $0.090 support to rise again.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.085 level, Stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.090 resistance zone to move into a positive zone.

The price even cleared the $0.0920 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.0940 before it corrected lower. There was a drop below the $0.092 support level. There is a break below the 23.6% Fib retracement level of the upward move from the $0.0861 swing low to the $0.0943 high.

Besides, there was a break below a key bullish trend line with support near $0.0916 on the 4-hour chart. However, the bulls were active near the $0.0920 level.

XLM is now trading above $0.090 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.092 zone. The next major resistance is near the $0.0945 level. A clear move above the $0.0945 level might send the price toward the $0.0965 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 $0.090 level or the 50% Fib retracement level of the upward move from the $0.0861 swing low to the $0.0943 high.

The next major support sits near the $0.0880 level. Any more losses could lead the price toward the $0.0865 level in the near term.

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

The chart indicates that XLM’s price is now trading above $0.090 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.092 and $0.0945 resistance levels.

Technical Indicators

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

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

Key Support Levels – $0.090 and $0.088.

Key Resistance Levels – $0.092, $0.0945, and $0.0950.

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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