Stellar lumen price started a fresh decline from the %excerpt%.1165 resistance zone against the US Dollar. XLM price is now trading below %excerpt%.1110 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with support near %excerpt%.1095 on the 4-hours chart (data feed via Kraken). The pair could continue to move down if it breaks the %excerpt%.1095 and %excerpt%.1080 support levels. Stellar lumen price is trading below %excerpt%.1120 against the US Dollar, similar to bitcoin. XLM price must stay above the %excerpt%.1080 support to avoid more losses. Stellar Lumen Price Analysis (XLM to USD) After a steady increase, stellar lumen price faced sellers near the %excerpt%.1650 zone against the US Dollar. The XLM/USD pair formed a high near %excerpt%.1164 before it started a fresh decline. There was
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 OSL Strengthens Partnership with Solomon JFZ Ahead of Hong Kong ETF Launch
Temitope Olatunji writes Japanese Metaplanet’s Purchase of Bitcoin Worth .25M Signals Growing Corporate Adoption
Godfrey Benjamin writes Here Are 3 Major Recent Cardano (ADA) Upgrades to Know
Steve Muchoki writes BNY Mellon Invests in Spot Bitcoin ETFs from BlackRock and Grayscale
- Stellar lumen price started a fresh decline from the $0.1165 resistance zone against the US Dollar.
- XLM price is now trading below $0.1110 and the 55 simple moving average (4-hours).
- There is a key contracting triangle forming with support near $0.1095 on the 4-hours chart (data feed via Kraken).
- The pair could continue to move down if it breaks the $0.1095 and $0.1080 support levels.
Stellar lumen price is trading below $0.1120 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1080 support to avoid more losses.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, stellar lumen price faced sellers near the $0.1650 zone against the US Dollar. The XLM/USD pair formed a high near $0.1164 before it started a fresh decline.
There was a move below the $0.1150 and $0.1140 levels. The bears even pushed the price below the $0.1120 level. It traded as low as $0.1086 and is currently consolidating losses. On the upside, the price is facing resistance near the $0.1105 level.
The 23.6% Fib retracement level of the recent decline from the $0.1164 swing high to $0.1086 low is also near the $0.1105 level. The next hurdle could be near the $0.1120 zone and the 55 simple moving average (4-hours).
There is also a key contracting triangle forming with support near $0.1095 on the 4-hours chart. The triangle resistance is near the $0.1120 zone or the 50% Fib retracement level of the recent decline from the $0.1164 swing high to $0.1086 low.
A clear move above the $0.1120 level might send the price towards the $0.1150 level. Any more gains could lead the price towards the $0.1200 level or even $0.1220.
An initial support on the downside is near the $0.1100 level or the triangle trend line. The main support is near the $0.1080 zone. Any more losses could lead the price towards the $0.1050 level in the near term, below which the price might even retest $0.1000.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.1120 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.1095 and $0.1080 support levels.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is losing momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.1095 and $0.1080.
Key Resistance Levels – $0.1120, $0.1150 and $0.1200.