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HomeAltcoin NewsStellar Lumen (XLM) Price Turns Red As Bears Aim $0.10

Stellar Lumen (XLM) Price Turns Red As Bears Aim $0.10

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  • Stellar lumen price is gaining pace below the $0.118 resistance zone against the US Dollar.
  • XLM price is now trading below $0.1175 and the 55 simple moving average (4 hours).
  • There is a connecting bearish trend line forming with resistance near $0.1130 on the 4-hour chart (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $0.1170 resistance.

Stellar lumen price is trading below $0.1180 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1110 support.

Stellar Lumen Price Analysis (XLM to USD)

In the past few days, Stellar Lumen price struggled to recover above the $0.120 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

There was a move below the $0.1185 and $0.1170 levels. The price tested the $0.1115 zone. A low is formed near $0.1115 and the price is now consolidating losses. XLM is now trading below $0.1175 and the 55 simple moving average (4 hours).

Immediate resistance is near the $0.1130 level. There is also a connecting bearish trend line forming with resistance near $0.1130 on the 4-hour chart. The next key resistance is seen near the $0.1170 level. It is close to the 23.6% Fib retracement level of the downward move from the $0.1345 swing high to the $0.1115 low.

A clear upside break above the $0.1170 zone might send the price toward $0.122 or the 50% Fib retracement level of the downward move from the $0.1345 swing high to the $0.1115 low.

Any more gains could lead the price toward the $0.1280 level. If not, the price might continue to move down. Initial support on the downside is near the $0.1115 level. The next major support is near the $0.1100. 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 $0.1175 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.1170 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 – $0.1115 and $0.1100.

Key Resistance Levels – $0.117, $0.120, and $0.122.

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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