- Stellar lumen price is gaining pace below the $0.115 resistance zone against the US Dollar.
- XLM price is now trading below $0.1135 and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $0.1132 on the 4-hour chart (data feed via Kraken).
- The pair could start a fresh increase if it clears the $0.1150 resistance.
Stellar lumen price is trading below $0.1150 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1100 support.
Stellar Lumen Price Analysis (XLM to USD)
In the past few days, Stellar Lumen price struggled to recover above the $0.1185 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.
There was a move below the $0.1165 and $0.1150 levels. The price tested the $0.1100 zone. A low is formed near $0.1096 and the price is now consolidating losses. XLM is now trading below $0.1135 and the 55 simple moving average (4 hours).
Immediate resistance is near the $0.1112 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1165 swing high to the $0.1096 low.
The next key resistance is seen near the $0.1132 level. There is also a major bearish trend line forming with resistance near $0.1132 on the 4-hour chart. It is close to the 50% Fib retracement level of the downward move from the $0.1165 swing high to the $0.1096 low.
A clear upside break above the $0.1132 zone might send the price toward $0.115. Any more gains could lead the price toward the $0.1188 level. If not, the price might continue to move down.
Initial support on the downside is near the $0.1100 level. The next major support is $0.1095. 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.
The chart indicates that XLM price is now trading below $0.1135 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.1150 resistance.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is losing momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.1100 and $0.1095.
Key Resistance Levels – $0.1135, $0.1150, and $0.1188.
