- Stellar lumen price is attempting a fresh increase from the $0.1120 zone against the US Dollar.
- XLM price is now trading near $0.1150 and the 55 simple moving average (4 hours).
- There is a connecting bullish trend line forming with support near $0.1140 on the 4-hour chart (data feed via Kraken).
- The pair could start a decent increase if there is a clear move above the $0.1175 resistance zone.
Stellar lumen price is trading in a bullish zone above $0.1140 against the US Dollar, like Bitcoin. XLM price must clear $0.1175 to gain bullish momentum.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, Stellar lumen price saw a minor rejection near the $0.1220 zone against the US Dollar. The XLM/USD pair traded below the $0.1180 support and tested the $0.1110 zone.
A low is formed near $0.1110 and the price is now attempting a fresh increase. There was a break above the $0.1140 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.1213 swing high to the $0.1110 low.
XLM is now trading above $0.1140 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1140 on the 4-hour chart.
The bulls are now attempting a close above the 61.8% Fib retracement level of the downward move from the $0.1213 swing high to the $0.1110 low. On the upside, the price is facing resistance near the $0.1175 zone. The next major resistance is near the $0.1200 level.
A clear move above the $0.1200 level might send the price toward the $0.1320. Any more gains could lead the price toward the $0.1450 level or even $0.1500.
Initial support on the downside is near the $0.1140 level or the trend line. The main support is near the $0.1110 zone. Any more losses could lead the price toward the $0.1050 level in the near term, below which the price might even retest $0.0950.
The chart indicates that XLM price is now trading near $0.1150 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1175 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 near the 50 level.
Key Support Levels – $0.1140 and $0.1110.
Key Resistance Levels – $0.1175, $0.1200, and $0.1320.
