HomeAltcoin NewsStellar Lumen (XLM) Price Reaches Crucial Juncture At $0.165

Stellar Lumen (XLM) Price Reaches Crucial Juncture At $0.165

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  • Stellar lumen price started a fresh decline from well above the $0.200 zone against the US Dollar.
  • XLM price is now trading below $0.1800 and the 55 simple moving average (4-hours).
  • There is a crucial bearish trend line forming with resistance near $0.1750 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to decline if there is a clear move below $0.1650.

Stellar lumen price is trading in a bearish zone below $0.1880 against the US Dollar, similar to bitcoin. XLM price must stay above $0.1650 to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

In the past few sessions, stellar lumen price saw a major decline from well above $0.2000 against the US Dollar. The XLM/USD pair declined below the $0.2000 support to enter a bearish zone.

There was a move below the $0.1880 and $0.1800 support levels. There was also a close below the $0.1800 level and the 55 simple moving average (4-hours). A low is formed near $0.1697 and the price is now consolidating losses.

An immediate resistance is near the $0.1770 level. It is near the 23.6% Fib retracement level of the downward move from the $0.2025 swing high to $0.1697 swing low.

There is also a crucial bearish trend line forming with resistance near $0.1750 on the 4-hours chart. The next key resistance is near the $0.1850 level and the 55 simple moving average (4-hours). It is close to the 50% Fib retracement level of the downward move from the $0.2025 swing high to $0.1697 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.

An immediate support on the downside is near the $0.1680 level. The next major support is near the $0.1650 level. Any more losses could lead the price towards the $0.1500 level, where the bulls might take a stand. If they fail, the price may perhaps decline towards the $0.1350 support zone.

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

The chart indicates that XLM price is now trading below $0.1880 and the 55 simple moving average (4-hours). Overall, the price could continue to decline if there is a clear move below $0.1650 in the near term.

Technical Indicators

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

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

Key Support Levels – $0.1680 and $0.1650.

Key Resistance Levels – $0.1750, $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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