Stellar lumen price is currently holding the %excerpt%.0980 and %excerpt%.1000 support levels against the US Dollar.XLM price is facing many hurdles near the 55 simple moving average (4-hours) and %excerpt%.1080.There is a key bearish trend line forming with resistance near %excerpt%.1024 on the 4-hours chart (data feed via Kraken).The pair could move into a bullish zone if it clears the %excerpt%.1050 and %excerpt%.1080 resistance levels.Stellar lumen price is holding a couple of key supports against the US Dollar, similar to bitcoin. XLM price must clear the %excerpt%.1080 resistance to move into a positive zone.Stellar Lumen Price Analysis (XLM to USD)This past week, stellar lumen price started a steady decline from well above %excerpt%.1100 against the US Dollar. The XLM/USD pair broke the key %excerpt%.1080 pivot level to move into a bearish
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 is currently holding the $0.0980 and $0.1000 support levels against the US Dollar.
- XLM price is facing many hurdles near the 55 simple moving average (4-hours) and $0.1080.
- There is a key bearish trend line forming with resistance near $0.1024 on the 4-hours chart (data feed via Kraken).
- The pair could move into a bullish zone if it clears the $0.1050 and $0.1080 resistance levels.
Stellar lumen price is holding a couple of key supports against the US Dollar, similar to bitcoin. XLM price must clear the $0.1080 resistance to move into a positive zone.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price started a steady decline from well above $0.1100 against the US Dollar. The XLM/USD pair broke the key $0.1080 pivot level to move into a bearish zone.
There was also a break below the $0.1000 support level and the price settled below the 55 simple moving average (4-hours). A low is formed near $0.0969 and the price is currently recovering higher. The price is trading above $0.1000, but it is facing a couple of key hurdles.
There is a key bearish trend line forming with resistance near $0.1024 on the 4-hours chart. The trend line is close to the 23.6% Fibonacci retracement level of the recent decline from the $0.1191 high to $0.0969 low.
The first major resistance is near the $0.1060 level and the 55 simple moving average (4-hours). The main resistance is still near the $0.1080 pivot level. It is close to the 50% Fibonacci retracement level of the recent decline from the $0.1191 high to $0.0969 low.
A successful break above the $0.1050 and $0.1080 resistance levels is must for a fresh increase in the near term. In the mentioned case, the price might continue to rise towards the $0.1200 resistance level.
Conversely, the price might fail to continue higher above $0.1040 or $0.1050. The main support is near the $0.0980 level, below which the price might continue to decline towards $0.0880 support.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is clearly attempting an upside break above $0.1020. Overall, the price could move into a bullish zone if it clears the $0.1050 and $0.1080 resistance levels.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is slowly gaining pace in the bullish zone.
4 hours RSI – The RSI for XLM/USD is currently rising and it is likely to settle above the 50 level.
Key Support Levels – $0.1000 and $0.0980.
Key Resistance Levels – $0.1040, $0.1050 and $0.1080.