- Stellar lumen price is showing bearish signs below the $0.1000 resistance zone against the US Dollar.
- XLM price is now trading below $0.0920 and the 55 simple moving average (4-hours).
- There was a break below a key bullish trend line with support near $0.0885 on the 4-hours chart (data feed via Kraken).
- The pair could continue to move down if it breaks the $0.0860 and $0.0835 support levels.
Stellar lumen price is trading below $0.1000 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0820 support to avoid more losses.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, stellar lumen price faced sellers near the $0.0920 zone against the US Dollar. The XLM/USD pair formed a high near $0.0920 before it started a fresh decline.
There was a move below the $0.0900 and $0.0885 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $0.0825 swing low to $0.0920 high. Besides, there was a break below a key bullish trend line with support near $0.0885 on the 4-hours chart.
It is now trading below $0.0920 and the 55 simple moving average (4-hours). An initial support on the downside is near the $0.0860 level. It is near the 61.85 Fib retracement level of the upward move from the $0.0825 swing low to $0.0920 high.
The main support is near the $0.0838 zone. Any more losses could lead the price towards the $0.0820 level in the near term, below which the price might even retest $0.0750.
On the upside, the price is facing resistance near the $0.0920 level. The next hurdle could be near the $0.0950 zone or $0.0980. A clear move above the $0.0980 level might send the price towards the $0.1080 level. Any more gains could lead the price towards the $0.1120 level or even $0.1200.
The chart indicates that XLM price is now trading below $0.0920 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.0860 and $0.0835 support levels.
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 – $0.0860 and $0.0820.
Key Resistance Levels – $0.0920, $0.0950 and $0.0980.
