HomeAltcoin NewsStellar Lumen (XLM) Price Eyes Key Breakout To $0.135, Are Bulls Back?

Stellar Lumen (XLM) Price Eyes Key Breakout To $0.135, Are Bulls Back?

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  • Stellar lumen price is attempting a fresh increase from the $0.115 zone against the US Dollar.
  • XLM price is now trading above $0.1200 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.1218 on the 4-hour chart (data feed via Kraken).
  • The pair could start a decent increase if there is a clear move above the $0.1240 resistance zone.

Stellar lumen price is trading above $0.1200 against the US Dollar, like Bitcoin. XLM price must clear $0.1240 to gain bullish momentum.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, Stellar lumen price saw a rejection pattern near the $0.1240 zone against the US Dollar. The XLM/USD pair traded below the $0.1200 support and tested the $0.1150 zone.

A low is formed near $0.1146 and the price is now attempting a recovery wave. There was a break above the $0.1200 resistance zone. The price climbed above the 76.4% Fib retracement level of the downward move from the $0.1234 swing high to the $0.1146 low.

XLM is now trading above $0.1200 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1218 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.1240 zone. The next major resistance is near the $0.1255 level. A clear move above the $0.1255 level might send the price toward the $0.1288 level or the 1.618 Fib extension level of the downward move from the $0.1234 swing high to the $0.1146 low.

Any more gains could lead the price toward the $0.1350 level or even $0.1400. Initial support on the downside is near the $0.1220 level or the trend line.

The main support is near the $0.1190 zone. Any more losses could lead the price toward the $0.1165 level in the near term, below which the price might even retest $0.1150.

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

The chart indicates that XLM price is now trading above $0.120 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1240 resistance zone.

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 – $0.1200 and $0.1165.

Key Resistance Levels – $0.1240, $0.1288, and $0.1350.

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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