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HomeAltcoin NewsStellar Lumen (XLM) Price Surging Towards $0.050

Stellar Lumen (XLM) Price Surging Towards $0.050

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  • Stellar lumen price is currently rising and trading nicely above the $0.0432 resistance against the US Dollar.
  • XLM price is likely to continue higher above the $0.0450 and $0.0475 resistance levels.
  • There is a key bullish trend line forming with support near $0.0418 on the 4-hours chart (data feed via Kraken).
  • The pair could surge towards $0.0550 if it clears the main $0.0500 resistance area.

Stellar lumen price is gaining bullish momentum above $0.0420 against the US Dollar, similar to bitcoin. XLM price remains in a decent uptrend and it could grind towards $0.0500 or $0.0550.

Stellar Lumen Price Analysis (XLM to USD)

Recently, stellar lumen price started a fresh increase from the $0.0376 low against the US Dollar. The XLM/USD pair gained bullish momentum and broke the key $0.0400 resistance area.

Besides, there was a close above the $0.0420 level and the 55 simple moving average (4-hours). The bulls were able to push the price above the $0.0432 resistance, plus the 76.4% Fibonacci retracement level of the main decline from the $0.0434 high to $0.0376 low.

As a result, there was a break above the $0.0434 swing high and the price traded above the $0.0450 resistance. It is now trading above the 1.236 Fib extension level of the main decline from the $0.0434 high to $0.0376 low.

An initial resistance on the upside is near the $0.0470 level since it is close to the 1.618 Fib extension level of the main decline from the $0.0434 high to $0.0376 low.

A clear break above $0.0470 could open the doors for a push towards the $0.0500 level. Any further gains might lead the price towards the $0.0550 level in the near term.

On the downside, an initial support is near the $0.0432 level (the recent breakout zone). There is also a key bullish trend line forming with support near $0.0418 on the 4-hours chart.

If the bulls fail to keep the price above the trend line support and the $0.0415 level, there are chances of a fresh decline towards the $0.0365 and $0.0350 levels in the near term.

Stellar Lumen Price
Stellar Lumen Price

The chart indicates that XLM price is clearly gaining bullish momentum above $0.0432 and $0.0450. if the bulls remain in action, the price could continue to rise towards the $0.0500 and $0.0550 resistance levels.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is now well above the 60 level.

Key Support Levels – $0.0432 and $0.0415.

Key Resistance Levels – $0.0470, $0.0500 and $0.0550.

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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