30.1 C
Dubai
Friday, May 24, 2024
HomeAltcoin NewsStellar Lumen (XLM) Price Remains Supported For Fresh Rally Above $0.18

Stellar Lumen (XLM) Price Remains Supported For Fresh Rally Above $0.18

Date:

Related stories

  • Stellar lumen price started a downside correction from the $0.180 zone against the US Dollar.
  • XLM price is now trading above $0.1450 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.160 on the 4-hour chart (data feed via Kraken).
  • The pair could start another increase if it clears the $0.160 and $0.1675 resistance levels.

Stellar lumen price is trading above $0.150 against the US Dollar, similar to bitcoin. XLM’s price must stay above the $0.145 support to rise again.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.120 level, Stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.150 resistance zone to move into a positive zone.

The price even cleared the $0.1650 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.180 before it corrected lower. There was a drop below the $0.175 support level.

The price is now testing the 50% Fib retracement level of the upward move from the $0.1244 swing low to the $0.1807 high. XLM is now trading above $0.1450 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.160 zone. There is also a key bearish trend line forming with resistance near $0.160 on the 4-hour chart. The next major resistance is near the $0.1675 level. A clear move above the $0.1670 level might send the price toward the $0.1800 level.

Any more gains could lead the price toward the $0.1920 level or even $0.20. Initial support on the downside is near the $0.150 level.

The next major support sits near the $0.1450 level or the 61.8% Fib retracement level of the upward move from the $0.1244 swing low to the $0.1807 high. Any more losses could lead the price toward the $0.1250 level in the near term.

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

The chart indicates that XLM’s price is now trading above $0.145 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.160 and $0.1675 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 – $0.150 and $0.145.

Key Resistance Levels – $0.160, $0.1675, and $0.180.

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.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories