Stellar lumen price started a fresh decline from the %excerpt%.3600 resistance against the US Dollar. XLM price is now trading below %excerpt%.3000 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near %excerpt%.2900 on the 4-hours chart (data feed via Kraken). The pair could start a steady upward move if there is a clear break above %excerpt%.3000. Stellar lumen price is trading in a bearish zone below %excerpt%.3000 against the US Dollar, similar to bitcoin. XLM price must settle above %excerpt%.3000 to start a fresh increase. Stellar Lumen Price Analysis (XLM to USD) After struggling to clear the %excerpt%.3600 resistance, stellar lumen price started a fresh decline against the US Dollar. The XLM/USD pair broke the %excerpt%.3200 support to move into a bearish
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- Stellar lumen price started a fresh decline from the $0.3600 resistance against the US Dollar.
- XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours).
- There is a key contracting triangle forming with resistance near $0.2900 on the 4-hours chart (data feed via Kraken).
- The pair could start a steady upward move if there is a clear break above $0.3000.
Stellar lumen price is trading in a bearish zone below $0.3000 against the US Dollar, similar to bitcoin. XLM price must settle above $0.3000 to start a fresh increase.
Stellar Lumen Price Analysis (XLM to USD)
After struggling to clear the $0.3600 resistance, stellar lumen price started a fresh decline against the US Dollar. The XLM/USD pair broke the $0.3200 support to move into a bearish zone.
The price even broke the $0.3000 support zone. The decline extended below the $0.2800 level and the price settled below the 55 simple moving average (4-hours). A low was formed near $0.2543 and the price is now consolidating losses.
There was a break above the 23.6% Fibonacci retracement level of the downward move from the $0.3642 swing high to $0.2543 low. However, the price is now facing resistance near the $0.2900 level.
There is also a key contracting triangle forming with resistance near $0.2900 on the 4-hours chart. The next major resistance is now near $0.3000. It is near the 50% Fibonacci retracement level of the downward move from the $0.3642 swing high to $0.2543 low.
If there is a clear break above the $0.3000 resistance zone, the price could start another steady increase. The next key resistance is near the $0.3200 level.
An immediate support is near the $0.2700 level. The main support is near $0.2600. A downside break below the $0.2600 support might call for more losses. The next major support is near the $0.2500 zone.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours). Overall, the price could start a steady upward move if there is a clear break above $0.3000.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is slowly losing momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.2800 and $0.2600.
Key Resistance Levels – $0.2900, $0.3000 and $0.3200.