HomeAltcoin NewsStellar Lumen (XLM) Price Signals Downtrend Below $0.120

Stellar Lumen (XLM) Price Signals Downtrend Below $0.120

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  • Stellar lumen price is gaining pace below the $0.124 resistance zone against the US Dollar.
  • XLM price is now trading below $0.120 and the 55 simple moving average (4 hours).
  • There was a break below a key bullish trend line forming with support near $0.1205 on the 4-hour chart (data feed via Kraken).
  • The pair could extend its decline below the $0.1165 support zone in the near term.

Stellar lumen price is trading below $0.1250 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1165 support.

Stellar Lumen Price Analysis (XLM to USD)

In the past few days, Stellar Lumen price struggled to recover above the $0.1250 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

A high was formed near $0.1234 before there was a fresh decline. There was a move below the $0.122 and $0.120 levels. Besides, there was a break below a key bullish trend line forming with support near $0.1205 on the 4-hour chart.

The pair is now approaching the 50% Fib retracement level of the upward move from the $0.1123 swing low to the $0.1234 high. XLM is now trading below $0.120 and the 55 simple moving average (4 hours).

Immediate resistance is near the $0.120 level. The next key resistance is seen near the $0.124 level. A clear upside break above the $0.124 zone might send the price toward $0.132. Any more gains could lead the price toward the $0.145 level. If not, the price might continue to move down.

Initial support on the downside is near the $0.1165 level or the 61.8% Fib retracement level of the upward move from the $0.1123 swing low to the $0.1234 high.

The next major support is $0.1120. Any more losses could lead the price toward the $0.105 level in the near term, below which the price might even retest $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 $0.124 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 – $0.1165 and $0.1120.

Key Resistance Levels – $0.1200, $0.1240, and $0.1320.

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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