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HomeAltcoin NewsStellar Lumen (XLM) Price Remains In Uptrend Above $0.40

Stellar Lumen (XLM) Price Remains In Uptrend Above $0.40

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  • Stellar lumen price started a steady increase above $0.3200 against the US Dollar.
  • XLM price is now trading above $0.3500 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.3700 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to rise if there is a clear break above the $0.4000 resistance zone.

Stellar lumen price is trading well above $0.3500 against the US Dollar, similar to bitcoin. XLM price must settle above $0.4000 to continue higher.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.3000 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.3200 barrier to move into a positive zone.

There was also a break above the $0.3550 and $0.3800 resistance levels. Finally, the pair climbed above the $0.4000 resistance level and settled above the 55 simple moving average (4-hours). A high was formed near $0.4200 before there was a downside correction.

The price corrected lower below the $0.3800 level. There was a break below the 23.6% Fibonacci retracement level of the upward move from the $0.3206 swing low to $0.4200 high.

However, the price remained supported near the $0.32600 level and the 55 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.3700 on the 4-hours chart. The pair also found support near the 50% Fibonacci retracement level of the upward move from the $0.3206 swing low to $0.4200 high.

An immediate hurdle on the upside for the bulls could be $0.3950. The first major resistance is now near $0.4000. If there is a clear break above the $0.4000 resistance zone, the price could start another steady increase. The next key resistance is near the $0.4200 level, above which the price could visit $0.4500.

On the downside, there is a decent support forming near the $0.3700 level. The main support is near $0.3600 and the 55 simple moving average (4-hours). A downside break below the $0.3600 support might call for more losses. The next major support is near the $0.3200 zone.

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

The chart indicates that XLM price is now trading above $0.3500 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if there is a clear break above the $0.4000 resistance zone.

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 above the 50 level.

Key Support Levels – $0.3700 and $0.3600.

Key Resistance Levels – $0.3950, $0.4000 and $0.4200.

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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