HomeAltcoin NewsStellar Lumen (XLM) Price Facing Uphill Task Near $0.410 and $0.435

Stellar Lumen (XLM) Price Facing Uphill Task Near $0.410 and $0.435

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  • Stellar lumen price is facing resistance near $0.4100 and $0.4350 against the US Dollar.
  • XLM price is now consolidating near $0.4000 and above the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.4000 on the 4-hours chart (data feed via Kraken).
  • The pair must clear the $0.4100 and $0.4350 resistance levels to start a strong increase.

Stellar lumen price is forming a base above the $0.4000 level against the US Dollar, while bitcoin is correcting lower. XLM price could start a decent increase once it clears the $0.4100 resistance.

Stellar Lumen Price Analysis (XLM to USD)

There was a fresh decline in stellar lumen price from the $0.4350 resistance zone against the US Dollar. The XLM/USD pair broke the $0.4100 support level to move into a bearish zone.

There was also a spike below the $0.4000 support, but the bulls defend the 55 simple moving average (4-hours). A low is formed near $0.3930 and the price is now consolidating. It is trading just above $0.4000 and the 55 simple moving average (4-hours).

It is testing the 23.6% Fibonacci retracement level of the downward move from the $0.4379 swing high to $0.3930 low. There is also a key bullish trend line forming with support near $0.4000 on the 4-hours chart.

The first major resistance on the upside is near the $0.4100 level. The next key resistance is near the $0.4150 level. It is close to the 50% Fibonacci retracement level of the downward move from the $0.4379 swing high to $0.3930 low.

If there is an upside break above $0.4150, the price could revisit the main $0.4350 resistance. Any more gains might start a strong increase in the coming sessions.

If there is no upside break, the price could move down below $0.4000. The first key support is near the $0.3950 level and the 55 simple moving average (4-hours). Any more losses might call for a drop towards the $0.3750 support zone.

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

The chart indicates that XLM price is clearly consolidating above $0.4000 and the 55 simple moving average (4-hours). Overall, the price must clear the $0.4100 and $0.4350 resistance levels to start a strong increase.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is currently close to the 50 level.

Key Support Levels – $0.4000 and $0.3750.

Key Resistance Levels – $0.4100, $0.4150 and $0.4350.

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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