- Stellar lumen price is facing a major resistance near the $0.095 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 $0.0900 on the 4-hours chart (data feed via Kraken).
- The pair could start a decent increase if it clears the $0.0935 and $0.095 resistance levels.
Stellar lumen price is trading above $0.0900 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0840 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.0820 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.085 resistance zone to move into a positive zone.
The price even cleared the $0.0880 resistance and the 55 simple moving average (4-hours). A high was formed near $0.0935 before there was a minor downside correction. The price declined below the $0.0920 level. It even spiked below the 50% Fib retracement level of the upward move from the $0.0859 swing low to $0.0935 high.
The price is now trading above the $0.090 level and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.0935 level.
The next major resistance is near the $0.0950 level. A clear move above the $0.0950 level might send the price towards the $0.100 level. Any more gains could lead the price towards the $0.1080 level or even $0.1120 in the coming days.
An initial support on the downside is near the $0.0900 level. There is also a key bullish trend line forming with support near $0.0900 on the 4-hours chart.
The next major support sits near the $0.0880 level or the 76.4% Fib retracement level of the upward move from the $0.0859 swing low to $0.0935 high. The main support is near the $0.0840 zone. Any more losses could lead the price towards the $0.082 level in the near term, below which the price might even retest $0.080.
The chart indicates that XLM price is now trading above $0.0900 and the 55 simple moving average (4-hours). Overall, the price could start a decent increase if it clears the $0.0935 and $0.095 resistance 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 – $0.0900 and $0.0880.
Key Resistance Levels – $0.0935, $0.0950 and $0.100.
