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HomeAltcoin NewsStellar Lumen (XLM) Price Takes Hit, $0.092 Is The Key

Stellar Lumen (XLM) Price Takes Hit, $0.092 Is The Key

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  • Stellar lumen price is showing bearish signs below the $0.100 resistance zone against the US Dollar.
  • XLM price is now trading below $0.100 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.1020 on the 4-hour chart (data feed via Kraken).
  • The pair could start another decline if it fails to recover above the $0.100 resistance.

Stellar lumen price is trading below $0.100 against the US Dollar, similar to Bitcoin. XLM price must stay above the $0.0920 support to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

After a failed attempt near the $0.1090 zone, Stellar Lumen price started a fresh decline against the US Dollar. The XLM/USD pair traded below the $0.1020 support to move into a bearish zone.

There was a steady decline below the $0.1000 level and the 55 simple moving average (4 hours). The price even tested the $0.0920 level. A low is formed near $0.0921 and the price is now consolidating losses. XLM price is now trading below $0.096 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.096 level. It is close to the 23.6% Fib retracement level of the downward move from the $0.1089 swing high to the $0.0921 low.

The next major resistance is near the $0.1000 zone. It is near the 50% Fib retracement level of the downward move from the $0.1089 swing high to the $0.0921 low. The first major resistance is near the $0.1020 level. There is also a key bearish trend line forming with resistance near $0.1020 on the 4-hour chart.

A clear upside break above the $0.1020 zone might send the price toward $0.1050. Any more gains could lead the price toward the $0.1090 level or even $0.1120.

Initial support on the downside is near the $0.0925 level. The main support is near the $0.092 zone. Any more losses could lead the price toward the $0.0865 level in the near term, below which the price might even retest $0.0850.

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

The chart indicates that XLM price is now trading below $0.100 and the 55 simple moving average (4 hours). Overall, the price could start a major decline if there is a clear move below the $0.0920 support.

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 – $0.0920 and $0.090.

Key Resistance Levels – $0.0960, $0.100, and $0.1020.

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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