HomeAltcoin NewsStellar Lumen (XLM) Price Near Make-or-Break Levels

Stellar Lumen (XLM) Price Near Make-or-Break Levels

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  • Stellar lumen price started a fresh decline from well above the $0.1900 zone against the US Dollar.
  • XLM price is now trading near $0.1800 and the 55 simple moving average (4-hours).
  • There is a crucial contracting triangle forming with resistance near $0.1850 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to decline if there is a clear move below $0.1750.

Stellar lumen price is trading in a bearish zone below $0.1900 against the US Dollar, similar to bitcoin. XLM price must stay above $0.1750 to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

In the past few sessions, stellar lumen price saw a fresh decline from well above $0.1900 against the US Dollar. The XLM/USD pair declined below the $0.1850 support to enter a bearish zone.

There was a move below the $0.1820 and $0.1800 support levels. A low is formed near $0.1737 and the price is now consolidating losses. It is near $0.1800 and the 55 simple moving average (4-hours). An immediate resistance is near the $0.1820 level.

The 50% Fib retracement level of the recent decline from the $0.1900 swing high to $0.1737 swing low is also near the $0.1820 zone. The next key resistance is near the $0.1850 level.

There is also a crucial contracting triangle forming with resistance near $0.1850 on the 4-hours chart. The triangle resistance is near the 76.4% Fib retracement level of the recent decline from the $0.1900 swing high to $0.1737 swing low.

Any more gains could lead the price towards the $0.2000 level. A close above $0.2000 could open the doors for a decent increase. If not, the price might extend losses below $0.1780.

An immediate support on the downside is near the $0.1765 level. The next major support is near the $0.1750 level. Any more losses could lead the price towards the $0.1620 level, where the bulls might take a stand. If they fail, the price may perhaps decline towards the $0.1500 support zone.

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

The chart indicates that XLM price is now trading near $0.1800 and the 55 simple moving average (4-hours). Overall, the price could continue to decline if there is a clear move below $0.1750 in the near term.

Technical Indicators

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

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

Key Support Levels – $0.1750 and $0.1620.

Key Resistance Levels – $0.1800, $0.1850 and $0.2000.

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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