- Stellar lumen price is attempting a fresh increase from the $0.125 zone against the US Dollar.
- XLM price is now trading above $0.120 and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $0.134 on the 4-hour chart (data feed via Kraken).
- The pair could start a major increase if there is a clear move above the $0.1420 resistance zone.
Stellar lumen price is trading above $0.1250 against the US Dollar, similar to Bitcoin. XLM price must clear $0.1420 to start a fresh increase.
Stellar Lumen Price Analysis (XLM to USD)
This past week, Stellar lumen price saw a major rally above the $0.10 resistance against the US Dollar. The XLM/USD pair rallied above $0.150 before it started a downside correction.
It traded as high as $0.1970 before the price dipped below $0.1500. A low is formed near $0.1254 and the price is now consolidating losses. It is now trading above $0.120 and the 55 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.134 on the 4-hour chart.
On the upside, the price is facing resistance near the $0.134 zone and the trend line. The next major resistance is near the $0.1420 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1970 swing high to the $0.1254 low.
A clear move above the $0.1420 level might send the price toward the $0.160 level. It is near the 50% Fib retracement level of the downward move from the $0.1970 swing high to the $0.1254 low.
Any more gains could lead the price toward the $0.180 level or even $0.1950. Initial support on the downside is near the $0.1250 level. The main support is near the $0.120 zone. Any more losses could lead the price toward the $0.1085 level in the near term, below which the price might even retest $0.100.
The chart indicates that XLM price is now trading above $0.1250 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1420 resistance zone.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is losing momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now above the 50 level.
Key Support Levels – $0.1250 and $0.120.
Key Resistance Levels – $0.135, $0.1420, and $0.1600.
