- Stellar lumen price is attempting a fresh increase from the $0.1280 zone against the US Dollar.
- XLM price is now trading above $0.1320 and the 55 simple moving average (4 hours).
- There is a connecting bullish trend line forming with support near $0.1350 on the 4-hour chart (data feed via Kraken).
- The pair could accelerate higher if there is a clear move above the $0.1400 resistance zone.
Stellar lumen price is trading above $0.1320 against the US Dollar, like Bitcoin. XLM price must clear $0.1400 to gain bullish momentum.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, Stellar lumen price saw a minor rejection near the $0.1400 zone against the US Dollar. The XLM/USD pair traded below the $0.1320 support and tested the $0.1280 zone.
A low was formed near $0.1281 and the price is now attempting a fresh increase. There was a break above the $0.1320 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.140 swing high to the $0.1281 low.
XLM is now trading above $0.1320 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1350 on the 4-hour chart.
The bulls are now attempting a close above the 76.4% Fib retracement level of the downward move from the $0.140 swing high to the $0.1281 low. On the upside, the price is facing resistance near the $0.1400 zone. The next major resistance is near the $0.1420 level.
A clear move above the $0.1420 level might send the price toward the $0.150 zone. Any more gains could lead the price toward the $0.1650 level or even $0.170.
Initial support on the downside is near the $0.1350 level or the trend line. The main support is near the $0.1280 zone. Any more losses could lead the price toward the $0.1220 level in the near term, below which the price might even retest $0.1150.
The chart indicates that XLM price is now trading above $0.1320 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.140 resistance zone.
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 – $0.1400 and $0.1420.
Key Resistance Levels – $0.1350, $0.1280, and $0.1220.
