- Stellar lumen price started a fresh increase above the $0.1140 resistance zone against the US Dollar.
- XLM price is now trading above $0.1135 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $0.1050 on the 4-hours chart (data feed via Kraken).
- The pair could continue to rise if it stays above the $0.1110 and $0.1080 support levels.
Stellar lumen price is trading above $0.1350 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1110 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.1000 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1100 resistance zone to move into a positive zone.
The price even broke the $0.1120 resistance and the 55 simple moving average (4-hours). There was a move above the 23.6% Fib retracement level of the downward move from the $0.1296 swing high to $0.0984 low. It even cleared the $0.1125 resistance zone.
There was a break above a major bearish trend line with resistance near $0.1050 on the 4-hours chart. XLM is also trading above $0.1135 and the 55 simple moving average (4-hours). It is now consolidating above the 50% Fib retracement level of the downward move from the $0.1296 swing high to $0.0984 low.
On the upside, the price is facing resistance near the $0.1158 zone. The next major resistance is near the $0.1180 level. A clear move above the $0.1180 level might send the price towards the $0.1280 level. Any more gains could lead the price towards the $0.1320 level or even $0.1350 in the coming days.
An initial support on the downside is near the $0.1110 level. The main support is near the $0.1080 zone. Any more losses could lead the price towards the $0.1020 level in the near term, below which the price might even retest $0.1000.
The chart indicates that XLM price is now trading above $0.1135 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it stays above the $0.1110 and $0.1080 support 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 – $0.1110 and $0.1080.
Key Resistance Levels – $0.1180, $0.1250 and $0.1300.
