Stellar lumen price rallied significantly towards %excerpt%.4500 before correcting lower against the US Dollar.XLM price is now trading below the %excerpt%.2800 support, and testing the 55 simple moving average (4-hours).There was a break below a major contracting triangle with support near %excerpt%.2850 on the 4-hours chart (data feed via Kraken).The pair is likely to find a strong buying interest near %excerpt%.2200 and %excerpt%.2000 support levels.Stellar lumen price is gaining bearish momentum below %excerpt%.3000 against the US Dollar, similar to bitcoin. XLM price could continue to move down towards %excerpt%.2000 if it fails to stay above %excerpt%.2800.Stellar Lumen Price Analysis (XLM to USD)This past week, stellar lumen price saw a strong increase above %excerpt%.2800 and %excerpt%.3000 against the US Dollar. The XLM/USD pair even broke the
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, stellar, Stellar Lumens, Trading, xlm
This could be interesting, too:
Chimamanda U. Martha writes Avail Teams Up with Leading Blockchain Platforms for Data Integration
Steve Muchoki writes Aligned Layer Successfully Raised M in Series A Funding Round Led by Hack VC
Mayowa Adebajo writes BNB Chain to Move Native Liquid Staking Feature to BSC
Temitope Olatunji writes Renzo (REZ) Addresses Community Backlash with Airdrop Adjustment and Token Stabilization Efforts
- Stellar lumen price rallied significantly towards $0.4500 before correcting lower against the US Dollar.
- XLM price is now trading below the $0.2800 support, and testing the 55 simple moving average (4-hours).
- There was a break below a major contracting triangle with support near $0.2850 on the 4-hours chart (data feed via Kraken).
- The pair is likely to find a strong buying interest near $0.2200 and $0.2000 support levels.
Stellar lumen price is gaining bearish momentum below $0.3000 against the US Dollar, similar to bitcoin. XLM price could continue to move down towards $0.2000 if it fails to stay above $0.2800.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price saw a strong increase above $0.2800 and $0.3000 against the US Dollar. The XLM/USD pair even broke the $0.4000 level and settled well above the 55 simple moving average (4-hours).
The price traded as high as $0.4404 before it started a downside correction. There was a sharp bearish reaction below the $0.4000 and $0.3500 levels. The bears gained pace below the $0.3000 support level and the 50% Fibonacci retracement level of the key upward move from the $0.1299 low to $0.4404 high.
There was also a break below a major contracting triangle with support near $0.2850 on the 4-hours chart. The price is now trading below the $0.2800 support and testing the 55 simple moving average (4-hours).
If there is a break below the $0.2350 support level and the 55 simple moving average (4-hours), there is a risk of more losses. The next major support is near the $0.2040 level. It is close to the 76.4% Fibonacci retracement level of the key upward move from the $0.1299 low to $0.4404 high.
Any more losses might lead the price towards the $0.1680 support zone. Conversely, the price might start a fresh increase from the $0.2380 support or $0.2000. On the upside, an initial resistance is forming near the $0.2650 level. The main resistance seems to be forming near the $0.2800 level.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is clearly gaining bearish momentum below $0.2800 and testing the 55 simple moving average (4-hours). Overall, the price is likely to find a strong buying interest near $0.2200 and $0.2000 support levels in the near term.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is currently declining towards the 25 level.
Key Support Levels – $0.2380 and $0.2000.
Key Resistance Levels – $0.2550, $0.2800 and $0.3000.