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HomeAltcoin NewsStellar Lumen (XLM) Price Faces Uphill Task Near $0.145

Stellar Lumen (XLM) Price Faces Uphill Task Near $0.145

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  • Stellar lumen price is struggling below the $0.150 resistance zone against the US Dollar.
  • XLM price is now trading below $0.150 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.140 on the 4-hour chart (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $0.1420 resistance.

Stellar lumen price is trading below $0.150 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.132 support.

Stellar Lumen Price Analysis (XLM to USD)

After a sharp decline below $0.165, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair traded below the $0.150 level.

There was also a spike below the $0.135 support zone. A low was formed near $0.1332 and the price is now consolidating losses. There was a move above the $0.135 and $0.138 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1719 swing high to the $0.1332 low.

However, the bears were active near the $0.145 zone. XLM is now trading below $0.150 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.140 on the 4-hour chart.

The next key resistance is seen near the $0.142 level. A clear upside break above the $0.142 zone might send the price toward $0.150. Any more gains could lead the price toward the $0.1520 level or even 50% Fib retracement level of the downward move from the $0.1719 swing high to the $0.1332 low.

Initial support on the downside is near the $0.132 level. The next major support is near the $0.1250 zone. Any more losses could lead the price toward the $0.1120 level in the near term, below which the price might even retest $0.1050. The next major support is near $0.10.

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

The chart indicates that XLM price is now trading below $0.145 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.1420 resistance.

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 50 level.

Key Support Levels – $0.132 and $0.125.

Key Resistance Levels – $0.1420, $0.1450, and $0.1520.

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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