HomeAltcoin NewsStellar Lumen (XLM) Price Remains At Risk of More Losses

Stellar Lumen (XLM) Price Remains At Risk of More Losses

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  • Stellar lumen price started a fresh decline from the $0.3100 resistance against the US Dollar.
  • XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours).
  • There was a break above a key bearish trend line with resistance near $0.2720 on the 4-hours chart (data feed via Kraken).
  • The pair could start a steady upward move if there is a clear break above $0.2850.

Stellar lumen price is trading in a bearish zone below $0.3000 against the US Dollar, similar to bitcoin. XLM price must settle above $0.3080 to start a fresh increase.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.2550 level, stellar lumen price started a recovery wave against the US Dollar. The XLM/USD pair traded above the $0.2850 level, but there was no clear move above the $0.3000 resistance.

The price started a fresh decline and traded below the $0.2850 support. The price even broke the $0.2650 support zone and the 55 simple moving average (4-hours). A low was formed near $0.2566 and the price is now consolidating losses.

There was a break above the 23.6% Fibonacci retracement level of the downward move from the $0.3089 swing high to $0.2566 low. Besides, there was a break above a key bearish trend line with resistance near $0.2720 on the 4-hours chart.

However, the price is now facing resistance near the $0.2820 level. The next major resistance is now near $0.2850. It is near the 50% Fibonacci retracement level of the downward move from the $0.3089 swing high to $0.2566 low.

If there is a clear break above the $0.2850 resistance zone, the price could start another steady increase. The next key resistance is near the $0.3000 level.

An immediate support is near the $0.2600 level. The main support is near $0.2550. A downside break below the $0.2550 support might call for more losses. The next major support is near the $0.2200 zone.

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

The chart indicates that XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours). Overall, the price could start a steady upward move if there is a clear break above $0.2850.

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 – $0.2600 and $0.2550.

Key Resistance Levels – $0.2750, $0.2850 and $0.3000.

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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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