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HomeAltcoin NewsStellar Lumen (XLM) Price Signals Breakout and Could Surge 10%

Stellar Lumen (XLM) Price Signals Breakout and Could Surge 10%

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  • Stellar lumen price is attempting a fresh increase from the $0.1132 zone against the US Dollar.
  • XLM price is now trading near $0.1200 and the 55 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance near $0.1195 on the 4-hour chart (data feed via Kraken).
  • The pair could start a decent increase if there is a clear move above the $0.1240 resistance zone.

Stellar lumen price is trading above $0.1195 against the US Dollar, like Bitcoin. XLM price must clear $0.1240 to gain bullish momentum.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, Stellar lumen price saw a rejection pattern near the $0.135 zone against the US Dollar. The XLM/USD pair traded below the $0.1250 support and tested the $0.1132 zone.

A low is formed near $0.1132 and the price is now attempting a recovery wave. There was a break above the $0.1150 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1348 swing high to the $0.1132 low.

Besides, there was a break above a key bearish trend line with resistance near $0.1195 on the 4-hour chart. XLM is now trading near $0.1200 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.1240 zone or the 50% Fib retracement level of the downward move from the $0.1348 swing high to the $0.1132 low. The next major resistance is near the $0.1265 level.

A clear move above the $0.1265 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 $0.1195 level. The main support is near the $0.1165 zone. Any more losses could lead the price toward the $0.1132 level in the near term, below which the price might even retest $0.1100.

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

The chart indicates that XLM price is now trading near $0.120 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1240 resistance zone.

Technical Indicators

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

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

Key Support Levels – $0.1195 and $0.1165.

Key Resistance Levels – $0.1240, $0.1265, and $0.1350.

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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