HomeAltcoin NewsStellar Lumen (XLM) Price Drops Below $0.10 As Bears Take Control

Stellar Lumen (XLM) Price Drops Below $0.10 As Bears Take Control

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  • Stellar lumen price is struggling below the $0.100 resistance zone against the US Dollar.
  • XLM price is now trading below $0.0950 and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.0935 on the 4-hour chart (data feed via Kraken).
  • The pair could start a recovery wave if it clears the $0.095 resistance.

Stellar lumen price is trading below $0.0950 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it stays below $0.0950.

Stellar Lumen Price Analysis (XLM to USD)

After a close below $0.100, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair even settled below the $0.095 support zone as the bears took control.

Finally, there was a spike below the $0.090 level. A low is formed near $0.0896 and the price is now consolidating losses. It is still trading below $0.0950 and the 55 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.0935 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.0922 level. It is close to the 23.6% Fib retracement level of the recent decline from the $0.0948 swing high to the $0.0896 low.

The next major resistance is near the $0.0932 zone and the trend line. It is close to the 55 simple moving average (4 hours) and the 76.4% Fib retracement level of the recent decline from the $0.0948 swing high to the $0.0896 low. The first major resistance is near the $0.095 level.

A clear upside break above the $0.095 zone might send the price toward $0.0980. Any more gains could lead the price toward the $0.1020 level or even $0.1050.

Initial support on the downside is near the $0.0895 level. The main support is near the $0.088 zone. Any more losses could lead the price toward the $0.0850 level in the near term, below which the price might even retest $0.0820.

Stellar Lumen (XLM) Price
Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading below $0.0950 and the 55 simple moving average (4 hours). Overall, the price could start a major decline if there is a clear move below the $0.088 support.

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 – $0.0880 and $0.085.

Key Resistance Levels – $0.0935, $0.0950, and $0.0980.

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Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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