Wednesday , December 1 2021
Home / Altcoins / Stellar Lumen (XLM) Price Remains At Risk of More Downsides

Stellar Lumen (XLM) Price Remains At Risk of More Downsides

Summary:
Stellar lumen price is struggling to stay above %excerpt%.3650 against the US Dollar. XLM price is now trading below %excerpt%.3800 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near %excerpt%.3800 on the 4-hours chart (data feed via Kraken). The pair could continue to move down if there is a break below the %excerpt%.3650 support zone. Stellar lumen price is trading well above %excerpt%.4000 against the US Dollar, similar to bitcoin. XLM price must settle above %excerpt%.3800 to start a fresh increase. Stellar Lumen Price Analysis (XLM to USD) After forming a base above the %excerpt%.3200 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the %excerpt%.3500 barrier to move into a positive zone. There was also a break

Topics:
Aayush Jindal considers the following as important: , , , , ,

This could be interesting, too:

Nick Marinoff writes Could Jerome Powell Affect the Crypto Market? Analysts Weigh In

Nick Marinoff writes Jane Hume: Crypto Is NOT Going to Disappear

Nick Marinoff writes Moon Pay Is One of the Newest – and Biggest – Crypto Firms Today

Aayush Jindal writes Cardano (ADA) Price Analysis: Risk of Fresh Decline Below .5

  • Stellar lumen price is struggling to stay above $0.3650 against the US Dollar.
  • XLM price is now trading below $0.3800 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.3800 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to move down if there is a break below the $0.3650 support zone.

Stellar lumen price is trading well above $0.4000 against the US Dollar, similar to bitcoin. XLM price must settle above $0.3800 to start a fresh increase.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.3200 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.3500 barrier to move into a positive zone.

There was also a break above the $0.3650 and $0.3800 resistance levels. Finally, the pair climbed above the $0.4000 resistance level and settled above the 55 simple moving average (4-hours). A high was formed near $0.4200 before there was a downside correction.

The price corrected lower below the $0.3850 level. There was a break below the 23.6% Fibonacci retracement level of the upward wave from the $0.3200 swing low to $0.4200 high.

However, the price remained supported near the $0.3650 level and the 55 simple moving average (4-hours). The pair also found support near the 50% Fibonacci retracement level of the upward wave from the $0.3200 swing low to $0.4200 high.

An immediate hurdle on the upside for the bulls could be $0.3800. There is also a key bearish trend line forming with resistance near $0.3800 on the 4-hours chart.

The first major resistance is now near $0.4000. If there is a clear break above the $0.4000 resistance zone, the price could start another steady increase. The next key resistance is near the $0.4200 level, above which the price could visit $0.4500.

On the downside, there is a decent support forming near the $0.3650 level. The main support is near $0.3500. A downside break below the $0.3500 support might call for more losses. The next major support is near the $0.3200 zone.

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading above $0.3800 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if there is a break below the $0.3650 support zone.

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 above the 50 level.

Key Support Levels – $0.3650 and $0.3500.

Key Resistance Levels – $0.3800, $0.4000 and $0.4200.

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *