HomeAltcoin NewsStellar Lumen (XLM) Price Grinds Lower As Bulls Lose Control

Stellar Lumen (XLM) Price Grinds Lower As Bulls Lose Control

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  • Stellar lumen price is moving lower below the $0.1120 pivot level against the US Dollar.
  • XLM price is now trading below $0.1100 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.1095 on the 4-hour chart (data feed via Kraken).
  • The pair could extend its decline below the $0.1080 support zone in the near term.

Stellar lumen price is trading below $0.1120 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1080 support.

Stellar Lumen Price Analysis (XLM to USD)

In the past few sessions, Stellar Lumen price struggled to climb above the $0.1125 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

There was a rejection pattern noticed near the 50% Fib retracement level of the downward move from the $0.1167 swing high to the $0.1080 low. The price declined and traded below the $0.1100 level. XLM is now trading below $0.1100 and the 55 simple moving average (4 hours).

Immediate resistance is near the $0.1100 level. There is also a key bearish trend line forming with resistance near $0.1095 on the 4-hour chart. The next key resistance is seen near the $0.1125 level. A clear upside break above the $0.1125 zone might send the price toward $0.1145.

The 76.4% Fib retracement level of the downward move from the $0.1167 swing high to the $0.1080 low is also near the $0.1145 level. Any more gains could lead the price toward the $0.1165 level.

If not, the price might continue to move down. Initial support on the downside is near the $0.1080 level. The next major support is $0.1050. Any more losses could lead the price toward the $0.1000 level in the near term, below which the price might even test $0.0950.

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

The chart indicates that XLM price is now trading below $0.1120 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.1125 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 – $0.1080 and $0.1050.

Key Resistance Levels – $0.1100, $0.1125, and $0.1165.

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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