- Stellar lumen price is facing a major resistance near the $0.0965 zone against the US Dollar.
- XLM price is now trading above $0.090 and the 55 simple moving average (4-hours).
- There is a major bullish trend line forming with support near $0.0910 on the 4-hours chart (data feed via Kraken).
- The pair could start a decent increase if it clears the $0.0935 and $0.0965 resistance levels.
Stellar lumen price is trading above $0.0900 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.090 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.085 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.090 resistance zone to move into a positive zone.
The price even cleared the $0.0920 resistance and the 55 simple moving average (4-hours). The upward move was such that the price spike to $0.0997 before it corrected lower. There was a drop below the $0.0940 support level. A low is formed near $0.0872 and the price is now rising.
XLM price is now trading above the $0.090 level and the 55 simple moving average (4-hours). There is also a major bullish trend line forming with support near $0.0910 on the 4-hours chart.
On the upside, the price is facing resistance near the $0.0935 zone. It is near the 50% Fib retracement level of the recent decline from the $0.0997 swing high to $0.0872 low.
The next major resistance is near the $0.0950 level. It is near the 61.8% Fib retracement level of the recent decline from the $0.0997 swing high to $0.0872 low. A clear move above the $0.0950 level might send the price towards the $0.098 level.
Any more gains could lead the price towards the $0.1000 level or even $0.1120 in the coming sessions. An initial support on the downside is near the $0.091 level. The next major support sits near the $0.0900 level. The main support is near the $0.0875 zone. Any more losses could lead the price towards the $0.080 level in the near term.
The chart indicates that XLM price is now trading above $0.090 and the 55 simple moving average (4-hours). Overall, the price could start a decent increase if it clears the $0.0935 and $0.0965 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 – $0.0910 and $0.0875.
Key Resistance Levels – $0.0935, $0.0965 and $0.100.
