Stellar lumen price started a fresh increase from the %excerpt%.1500 support zone against the US Dollar.XLM price broke the %excerpt%.1650 resistance zone and the 55 simple moving average (4-hours).There was a break above a crucial bearish trend line with resistance near %excerpt%.1640 on the 4-hours chart (data feed via Kraken).The pair could continue to rise if there is a clear break above the %excerpt%.1800 resistance zone.Stellar lumen price started a fresh increase above %excerpt%.1650 against the US Dollar, similar to bitcoin. XLM price must break %excerpt%.1800 to continue higher in the near term.Stellar Lumen Price Analysis (XLM to USD)After a couple of swing move, stellar lumen price formed a support base near the %excerpt%.1500 zone against the US Dollar. The XLM/USD pair traded as low as %excerpt%.1492 before starting a fresh
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, stellar, Stellar Lumens, Trading, xlm
This could be interesting, too:
Bilal Hassan writes Morocco to Become First Developing Country with Clear Crypto Regulations
Bilal Hassan writes Cryptopia Liquidators Distribute 0 Million to Victims of 2019 Hack
Bilal Hassan writes Mo Shaikh Steps Down as CEO of Aptos Labs to Start New Chapter
Bilal Hassan writes FTX Announces January 2025 as Effective Date for Reorganization Plan
- Stellar lumen price started a fresh increase from the $0.1500 support zone against the US Dollar.
- XLM price broke the $0.1650 resistance zone and the 55 simple moving average (4-hours).
- There was a break above a crucial bearish trend line with resistance near $0.1640 on the 4-hours chart (data feed via Kraken).
- The pair could continue to rise if there is a clear break above the $0.1800 resistance zone.
Stellar lumen price started a fresh increase above $0.1650 against the US Dollar, similar to bitcoin. XLM price must break $0.1800 to continue higher in the near term.
Stellar Lumen Price Analysis (XLM to USD)
After a couple of swing move, stellar lumen price formed a support base near the $0.1500 zone against the US Dollar. The XLM/USD pair traded as low as $0.1492 before starting a fresh increase.
There was a clear break above the $0.1650 resistance to start the current increase. There was also a break above a crucial bearish trend line with resistance near $0.1640 on the 4-hours chart. The price even spiked above $0.1750 and settled above the 55 simple moving average (4-hours).
However, the price is still struggling to clear the main $0.1800 resistance zone. A high is formed near $0.1792 and the price is currently consolidating gains. It is trading near the 23.6% Fibonacci retracement level of the recent increase from the $0.1492 swing low to $0.1792 high.
The first major support is near the $0.1650 level and the broken trend line. The 55 simple moving average (4-hours) is also near the $0.1650 level. Moreover, the 50% Fibonacci retracement level of the recent increase from the $0.1492 swing low to $0.1792 high is at $0.1650.
If there is a downside break below the $0.1650 support zone and a close below the 55 simple moving average (4-hours), the price could continue to move down.
The next major support is near the $0.1500 support. Conversely, the price could clear the $0.1800 hurdle and continue higher. The next major resistance is near the $0.1900 level, followed by $0.2050.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is clearly facing hurdles near $0.1800, but it is above the 55 simple moving average (4-hours). Overall, the price could continue to rise if there is a clear break above the $0.1800 resistance zone.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is showing positive signs in the bullish zone.
4 hours RSI – The RSI for XLM/USD is correcting lower towards the 50 level.
Key Support Levels – $0.1650 and $0.1500.
Key Resistance Levels – $0.1800, $0.1900 and $0.2050.