HomeAltcoin NewsStellar Lumen (XLM) Price Remains Supported For Fresh Increase Above $0.12

Stellar Lumen (XLM) Price Remains Supported For Fresh Increase Above $0.12

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  • Stellar lumen price started a downside correction from the $0.1300 zone against the US Dollar.
  • XLM price is now trading below $0.1250 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.1250 on the 4-hour chart (data feed via Kraken).
  • The pair could start another increase if it clears the $0.125 and $0.130 resistance levels.

Stellar lumen price is trading above $0.120 against the US Dollar, like bitcoin. XLM’s price must stay above the $0.1185 support to rise again.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.1150 level, Stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.120 resistance zone to move into a positive zone.

The price even cleared the $0.1250 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.135 before it corrected lower. There was a drop below the $0.125 support level.

The price is now trading below the 23.6% Fib retracement level of the upward move from the $0.1132 swing low to the $0.1273 high. XLM is now trading above $0.1200 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.125 zone. There is also a key bearish trend line forming with resistance near $0.1250 on the 4-hour chart. The next major resistance is near the $0.1300 level. A clear move above the $0.1300 level might send the price toward the $0.1350 level.

Any more gains could lead the price toward the $0.1400 level or even $0.1420. Initial support on the downside is near the $0.120 level.

The next major support sits near the $0.1185 level or the 61.8% Fib retracement level of the upward move from the $0.1132 swing low to the $0.1273 high. Any more losses could lead the price toward the $0.1132 level in the near term.

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

The chart indicates that XLM’s price is now trading above $0.120 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.125 and $0.130 resistance levels.

Technical Indicators

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

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

Key Support Levels – $0.120 and $0.1185.

Key Resistance Levels – $0.125, $0.130, and $0.132.

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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