Stellar lumen price rallied above the %excerpt%.1100 level and tested %excerpt%.1160 against the US Dollar.XLM price corrected lower sharply, but it found support above %excerpt%.0950 and %excerpt%.0920.There is a major bullish trend line forming with support near %excerpt%.1020 on the 4-hours chart (data feed via Kraken).The pair could resume its upward move once it clears the %excerpt%.1060 resistance zone.Stellar lumen price is trading in a positive zone above %excerpt%.1000 against the US Dollar, similar to bitcoin. XLM price is likely to rally again if it clears the %excerpt%.1060 and %excerpt%.1080 levels.Stellar Lumen Price Analysis (XLM to USD)This past week, stellar lumen price started a strong rise above the %excerpt%.1000 resistance against the US Dollar. The XLM/USD pair even broke the %excerpt%.1100 level and settled above the 55 simple moving average
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, stellar, Stellar Lumens, Trading, xlm
This could be interesting, too:
Emily John writes GRVT Launches Alertatron Trading Event and Airdrop Before TGE
Bilal Hassan writes Coinbase Expands in Nigeria with Onboard Global Partnership
Guest User writes XRP Price Faces Potential Drop: Leading KOL Warns of Imminent Correction with TD Sequential Sell Signal!
Bilal Hassan writes Bitget Expands in South Africa with Callpay Integration
- Stellar lumen price rallied above the $0.1100 level and tested $0.1160 against the US Dollar.
- XLM price corrected lower sharply, but it found support above $0.0950 and $0.0920.
- There is a major bullish trend line forming with support near $0.1020 on the 4-hours chart (data feed via Kraken).
- The pair could resume its upward move once it clears the $0.1060 resistance zone.
Stellar lumen price is trading in a positive zone above $0.1000 against the US Dollar, similar to bitcoin. XLM price is likely to rally again if it clears the $0.1060 and $0.1080 levels.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price started a strong rise above the $0.1000 resistance against the US Dollar. The XLM/USD pair even broke the $0.1100 level and settled above the 55 simple moving average (4-hours).
It traded as high as $0.1159 and recently started a sharp downside correction. There was a break below the $0.1100 and $0.1050 support levels. The price even spiked below the $0.1000 support and the 55 simple moving average (4-hours).
However, the price remained well bid near the $0.0950 and $0.0920 support levels. A swing low is formed near $0.0908 and the price is currently back above $0.1000. It broke the 50% Fibonacci retracement level of the recent decline from the $0.1159 high to $0.0908 low.
On the upside, it is facing hurdles near the $0.1060 level. It is close to the 61.8% Fibonacci retracement level of the recent decline from the $0.1159 high to $0.0908 low.
A successful break above the $0.1060 resistance may perhaps push the price above the $0.1080 and $0.1100 resistance levels. In the mentioned case, there are chances of a fresh increase towards the $0.1150 and $0.1180 levels in the near term.
If stellar price fails to clear the $0.1060 resistance, it could decline towards the $0.1020 support. The main support is near the trend line, below which the price may perhaps revisit the $0.0920 support.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is clearly trading near a key breakout zone at $0.1060. Therefore, the pair could resume its upward move once it clears the $0.1060 resistance zone.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is slowly gaining pace in the bearish zone.
4 hours RSI – The RSI for XLM/USD is now above the 50 level, but with a bullish angle.
Key Support Levels – $0.1020 and $0.1000.
Key Resistance Levels – $0.1060, $0.1080 and $0.1150.