Stellar lumen price is currently correcting higher above %excerpt%.0680 against the US Dollar.XLM price is facing a strong resistance near the %excerpt%.0700 region and the 55 simple moving average (4-hours).There was a break above a major bearish trend line with resistance near %excerpt%.0695 on the 4-hours chart (data feed via Kraken).The pair could either extend its recover above %excerpt%.0700 or resume its decline below %excerpt%.0650.Stellar lumen price is struggling to gain bullish momentum above %excerpt%.0700 against the US Dollar, similar to bitcoin. XLM price must settle above %excerpt%.0700 and %excerpt%.0740 for a trend change.Stellar Lumen Price Analysis (XLM to USD)In the past few days, stellar lumen price followed a bearish path from well above the %excerpt%.0800 level against the US Dollar. The XLM/USD pair broke a few important
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 correcting higher above $0.0680 against the US Dollar.
- XLM price is facing a strong resistance near the $0.0700 region and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $0.0695 on the 4-hours chart (data feed via Kraken).
- The pair could either extend its recover above $0.0700 or resume its decline below $0.0650.
Stellar lumen price is struggling to gain bullish momentum above $0.0700 against the US Dollar, similar to bitcoin. XLM price must settle above $0.0700 and $0.0740 for a trend change.
Stellar Lumen Price Analysis (XLM to USD)
In the past few days, stellar lumen price followed a bearish path from well above the $0.0800 level against the US Dollar. The XLM/USD pair broke a few important supports near the $0.0700 level to move into a bearish zone.
The price even traded below the $0.0680 level and settled below the 55 simple moving average (4-hours). It traded as low as $0.0660 before starting an upside correction. The recent swing low was near $0.0682 before the price climbed higher.
Moreover, there was a break above a major bearish trend line with resistance near $0.0695 on the 4-hours chart. The pair is currently testing the 23.6% Fibonacci retracement level of the recent decline from the $0.0740 high to $0.0682 low.
The first major resistance is near the $0.0720 level or the 55 simple moving average (4-hours). The 50% Fibonacci retracement level of the recent decline from the $0.0740 high to $0.0682 low might also act as a resistance.
The next major resistance is near the $0.0740 level, above which there are chances of a sustained upward move towards the $0.0800 and $0.0840 levels. Conversely, the price could fail to surpass the $0.0700 and $0.0720 resistance levels.
An initial support is near the $0.0680 level. The main support is near the $0.0660 level, below which the bears are likely to aim a test of the $0.0600 support level in the near term. Any further losses could lead the price towards $0.0580.
Stellar Lumen Price
The chart indicates that XLM price is clearly struggling to gain momentum above $0.0700. Therefore, it could either extend its recover above $0.0700 or resume its decline below $0.0650.
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 approaching the 50 level.
Key Support Levels – $0.0680 and $0.0660.
Key Resistance Levels – $0.0700, $0.0720 and $0.0740.