- Stellar lumen price started a fresh increase from the $0.0980 zone against the US Dollar.
- XLM price is now trading above $0.1050 and the 55 simple moving average (4-hours).
- There was a break above a key bearish trend line with resistance near $0.1100 on the 4-hours chart (data feed via Kraken).
- The pair could continue to rise towards the $0.1250 and $0.1300 resistance levels.
Stellar lumen price is trading above $0.1050 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1050 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.0980 level, stellar lumen price started an upside correction against the US Dollar. The XLM/USD pair broke the $0.1050 resistance zone.
The price even broke the $0.1080 resistance and the 55 simple moving average (4-hours). The bulls pushed the price above the 50% Fib retracement level of the key decline from the $0.1181 swing high to $0.0987 low. Besides, there was a break above a key bearish trend line with resistance near $0.1100 on the 4-hours chart.
It is now trading above $0.1050 and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.1135 zone. It is near the 76.4% Fib retracement level of the key decline from the $0.1181 swing high to $0.0987 low.
The next major resistance is near the $0.1180 level. A clear move above the $0.1180 level might send the price towards the $0.1200 level. Any more gains could lead the price towards the $0.1300 level.
An initial support on the downside is near the $0.1100 level. The main support is near the $0.1050 zone. Any more losses could lead the price towards the $0.1020 level in the near term, below which the price might even retest $0.0980.
The chart indicates that XLM price is now trading above $0.1050 and the 55 simple moving average (4-hours). Overall, the price could continue to rise towards the $0.1250 and $0.1300 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 – $0.1100 and $0.1050.
Key Resistance Levels – $0.1135, $0.1200 and $0.1300.
