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HomeAltcoin NewsStellar Lumen (XLM) Price Turns Sell on Rallies Near $0.092

Stellar Lumen (XLM) Price Turns Sell on Rallies Near $0.092

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  • Stellar lumen price is struggling below the $0.0950 resistance zone against the US Dollar.
  • XLM price is now trading below $0.0920 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.0920 on the 4-hour chart (data feed via Kraken).
  • The pair could start a recovery wave if it clears the $0.092 resistance.

Stellar lumen price is trading below $0.0920 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it stays below $0.0920.

Stellar Lumen Price Analysis (XLM to USD)

After a close below $0.0950, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair gained bearish momentum below the $0.090 support zone.

Finally, there was a spike below the $0.085 level. A low is formed near $0.0828 and the price is now correcting losses. It is still trading below $0.0920 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.0920 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.090 level and the 55 simple moving average (4 hours). It is close to the 61.8% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0827 low.

The next major resistance is near the $0.0920 zone and the trend line. It is close to the 76.4% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0827 low. A clear upside break above the $0.092 zone might send the price toward $0.0950. Any more gains could lead the price toward the $0.1000 level or even $0.1050.

Initial support on the downside is near the $0.0875 level. The main support is near the $0.085 zone. Any more losses could lead the price toward the $0.0820 level in the near term, below which the price might even retest $0.0800.

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

The chart indicates that XLM price is now trading below $0.0920 and the 55 simple moving average (4 hours). Overall, the price could start a major decline if there is a clear move below the $0.0875 support.

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 – $0.0875 and $0.082.

Key Resistance Levels – $0.090, $0.0920, and $0.0950.

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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