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HomeAltcoin NewsStellar Lumen (XLM) Price Technicals Suggest More Upsides Above $0.1

Stellar Lumen (XLM) Price Technicals Suggest More Upsides Above $0.1

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  • Stellar lumen price started a fresh increase above the $0.090 resistance zone against the US Dollar.
  • XLM price is now trading above $0.090 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.0935 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to rise if it stays above the $0.0920 and $0.0900 support levels.

Stellar lumen price is trading above $0.0900 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0900 support to rise further.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.085 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.090 resistance zone to move into a positive zone.

The price even broke the $0.0920 resistance and the 55 simple moving average (4-hours). A high was formed near $0.0960 before there was a minor downside correction. The price declined below the $0.0920 level. It even traded below the 23.6% Fib retracement level of the upward move from the $0.0818 swing low to $0.0960 high.

The price is now trading comfortably above the $0.090 level and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.0960 level.

The next major resistance is near the $0.0980 level.  A clear move above the $0.0980 level might send the price towards the $0.100 level. Any more gains could lead the price towards the $0.1120 level or even $0.1150 in the coming days.

An initial support on the downside is near the $0.0932 level or the 55 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.0935 on the 4-hours chart.

The next major support sits near the $0.0900 level. It is close to the 50% Fib retracement level of the upward move from the $0.0818 swing low to $0.0960 high. The main support is near the $0.0875 zone. Any more losses could lead the price towards the $0.085 level in the near term, below which the price might even retest $0.082.

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

The chart indicates that XLM price is now trading above $0.0900 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it stays above the $0.0920 and $0.0900 support levels.

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 – $0.0920 and $0.0900.

Key Resistance Levels – $0.0960, $0.0980 and $0.1000.

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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