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Stellar Lumen (XLM) Price Eyes Fresh Rally above $0.45

Summary:
Stellar lumen price struggled to clear the %excerpt%.5000 resistance zone against the US Dollar. XLM price is now trading below %excerpt%.4000 and the 55 simple moving average (4-hours). There is a key declining channel forming with resistance near %excerpt%.3740 on the 4-hours chart (data feed via Kraken). The pair is likely to extend its decline as long as it is below the %excerpt%.4000 pivot level. Stellar lumen price is facing hurdles near %excerpt%.4000 and %excerpt%.5000 against the US Dollar, similar to bitcoin. XLM price could decline heavily below the %excerpt%.3500 support zone. Stellar Lumen Price Analysis (XLM to USD) After a strong decline, stellar lumen price found support near the %excerpt%.2750 zone against the US Dollar. The XLM/USD pair started a decent recovery wave above the %excerpt%.4000 resistance zone. The

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  • Stellar lumen price struggled to clear the $0.5000 resistance zone against the US Dollar.
  • XLM price is now trading below $0.4000 and the 55 simple moving average (4-hours).
  • There is a key declining channel forming with resistance near $0.3740 on the 4-hours chart (data feed via Kraken).
  • The pair is likely to extend its decline as long as it is below the $0.4000 pivot level.

Stellar lumen price is facing hurdles near $0.4000 and $0.5000 against the US Dollar, similar to bitcoin. XLM price could decline heavily below the $0.3500 support zone.

Stellar Lumen Price Analysis (XLM to USD)

After a strong decline, stellar lumen price found support near the $0.2750 zone against the US Dollar. The XLM/USD pair started a decent recovery wave above the $0.4000 resistance zone.

The price even climbed above $0.4500, but it faced a strong resistance near the $0.5000 level. The price topped near the $0.4750 level and the 55 simple moving average (4-hours). The price is now moving lower and trading below $0.4200.

It broke the 50% Fibonacci retracement level of the upward move from the $0.2744 swing low to $0.4740 high. There is also a key declining channel forming with resistance near $0.3740 on the 4-hours chart.

The pair is now trading below $0.4000 and the 55 simple moving average (4-hours). An immediate support is near the $0.3500 level. It is close to the 61.8% Fibonacci retracement level of the upward move from the $0.2744 swing low to $0.4740 high.

Any more losses might call for a drop towards the $0.3000 support zone. The next major support could be near the $0.2750 level.

An immediate resistance is near the $0.3800 zone. The first major resistance is near the trend line and $0.4000. A clear break above the $0.4000 level could pump the price towards the $0.4750 level. The next key resistance is near the $0.5000 level.

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is clearly trading well below $0.5000 and the 55 simple moving average (4-hours). Overall, the price is likely to extend its decline as long as it is below the $0.4000 pivot level in the near term.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is slowly losing momentum in the bearish zone.

4 hours RSI – The RSI for XLM/USD is currently close to the 40 level.

Key Support Levels – $0.3500 and $0.3000.

Key Resistance Levels – $0.4000, $0.4750 and $0.5000.

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