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Stellar Lumen (XLM) Price Could Start Fresh Rally To $0.132

  • Stellar lumen price started a fresh decline from the $0.132 resistance zone against the US Dollar.
  • XLM price is now trading above $0.1160 and the 55 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support at $0.1182 on the 4-hours chart (data feed via Kraken).
  • The pair could start a major increase if there is a clear move above the $0.1200 resistance zone.

Stellar lumen price is trading below $0.1200 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1150 support to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

This past week, stellar lumen price saw a bearish reaction from the $0.1320 zone against the US Dollar. The XLM/USD pair traded below the $0.1250 support and the 55 simple moving average (4-hours).

The bears were able to push the price below the $0.1220 and $0.1200 support levels. The price declined below the 50% Fib retracement level of the upward move from the $0.1092 swing low to $0.1328 high. Besides, there was a break below a key bullish trend line with support at $0.1182 on the 4-hours chart.

XLM is now trading above $0.1160 and the 55 simple moving average (4-hours). An initial support on the downside is near the $0.1160 level. The main support is near the $0.1150 zone.

The 76.4% Fib retracement level of the upward move from the $0.1092 swing low to $0.1328 high is also near $0.1148.  Any more losses could lead the price towards the $0.1100 level in the near term, below which the price might even retest $0.1050.

On the upside, the price is facing resistance near the $0.1182 zone. The next major resistance is near the $0.1200 level. A clear move above the $0.1200 level might send the price towards the $0.1320 level. Any more gains could lead the price towards the $0.1400 level or even $0.1500.

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading above $0.1160 and the 55 simple moving average (4-hours). Overall, the price could start a major increase if there is a clear move above the $0.1200 resistance zone.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is now below the 50 level.

Key Support Levels – $0.1150 and $0.1100.

Key Resistance Levels – $0.1182, $0.1200 and $0.1320.

Tags: stellar, Stellar Lumens, XLM

Source: livebitcoinnews.com
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