- Stellar lumen price is facing a major resistance near the $0.0925 zone against the US Dollar.
- XLM price is now trading above $0.088 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.0905 on the 4-hour chart (data feed via Kraken).
- The pair could start another increase if it clears the $0.0925 and $0.0932 resistance levels.
Stellar lumen price is trading above $0.0900 against the US Dollar, similar to Bitcoin. XLM price must stay above the $0.0850 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.078 level, Stellar Lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.082 resistance zone to move into a positive zone.
The price even cleared the $0.0850 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spike to $0.0900 before the bears appeared. A high was formed near $0.0923 and the price is now consolidating gains.
XLM is now trading above $0.088 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.0905 on the 4-hour chart.
On the upside, the price is facing resistance near the $0.0925 zone. The next major resistance is near the $0.0932 level. A clear move above the $0.0932 level might send the price toward the $0.098 level. Any more gains could lead the price toward the $0.1020 level or even $0.1120 in the coming sessions.
Initial support on the downside is near the $0.0905 level and the trend line. The next major support sits near the $0.0890 level or the 23.6% Fib retracement level of the upward move from the $0.0782 swing low to the $0.0923 high.
The main support is near the $0.0855 zone or the 50% Fib retracement level of the upward move from the $0.0782 swing low to the $0.0923 high. Any more losses could lead the price toward the $0.082 level in the near term.
The chart indicates that XLM price is now trading above $0.088 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.0925 and $0.0932 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 – $0.0905 and $0.0890.
Key Resistance Levels – $0.0925, $0.0932, and $0.100.
