HomeAltcoin NewsStellar Lumen (XLM) Price Revisits Key Support, Can Bulls Save The Day?

Stellar Lumen (XLM) Price Revisits Key Support, Can Bulls Save The Day?

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  • Stellar lumen price is struggling below the $0.120 resistance zone against the US Dollar.
  • XLM price is now trading below $0.1185 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.1182 on the 4-hour chart (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $0.125 resistance.

Stellar lumen price is trading below $0.120 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.115 support.

Stellar Lumen Price Analysis (XLM to USD)

After a decent increase, Stellar Lumen price faced resistance near the $0.135 zone against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

There was a move below the $0.125 and $0.120 levels. The price tested the $0.1150 zone. A low is formed near $0.1152 and the price is now consolidating losses. XLM is now trading below $0.1185 and the 55 simple moving average (4 hours).

Immediate resistance is near the $0.1182 level. There is also a key bearish trend line forming with resistance near $0.1182 on the 4-hour chart. The next key resistance is seen near the $0.120 level. It is close to the 23.6% Fib retracement level of the downward move from the $0.1346 swing high to the $0.1152 low.

A clear upside break above the $0.120 zone might send the price toward $0.125 or the 50% Fib retracement level of the downward move from the $0.1346 swing high to the $0.1152 low.

Any more gains could lead the price toward the $0.130 level. If not, the price might continue to move down. Initial support on the downside is near the $0.1150 level. The next major support is near the $0.1125. Any more losses could lead the price toward the $0.108 level in the near term, below which the price might even retest $0.1050. The next major support is near $0.100.

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

The chart indicates that XLM price is now trading below $0.120 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.125 resistance.

Technical Indicators

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

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

Key Support Levels – $0.115 and $0.1125.

Key Resistance Levels – $0.120, $0.125, and $0.130.

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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