- Stellar lumen price is attempting a fresh increase above the $0.1320 zone against the US Dollar.
- XLM price is now trading above $0.1400 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support at $0.1390 on the 4-hour chart (data feed via Kraken).
- The pair could accelerate higher if there is a clear move above the $0.1450 resistance zone.
Stellar lumen price is trading above $0.1400 against the US Dollar, like Bitcoin. XLM price must clear $0.1450 to gain bullish momentum.
Stellar Lumen Price Analysis (XLM to USD)
This past month, Stellar lumen price saw a minor rejection near the $0.1620 zone against the US Dollar. The XLM/USD pair traded below the $0.1450 support and tested the $0.1170 zone.
A low was formed near $0.1170 and the price is now attempting a fresh increase. There was a break above the $0.1300 resistance zone. The price cleared the 50% Fib retracement level of the downward wave from the $0.1626 swing high to the $0.1170 low.
XLM is now trading above $0.1400 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support at $0.1390 on the 4-hour chart.
On the upside, the price is facing resistance near the $0.1450 zone. It is near the 61.8% Fib retracement level of the downward wave from the $0.1626 swing high to the $0.1170 low. The next major resistance is near the $0.1520 level.
A clear move above the $0.1520 level might send the price toward the $0.165 zone. Any more gains could lead the price toward the $0.1720 level or even $0.1750. Initial support on the downside is near the $0.140 level. The main support is near the $0.1300 zone. Any more losses could lead the price toward the $0.1220 level in the near term, below which the price might even retest $0.1170.
The chart indicates that XLM price is now trading above $0.140 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1450 resistance zone.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now above the 50 level.
Key Support Levels – $0.1400 and $0.1300.
Key Resistance Levels – $0.1450, $0.1520, and $0.1650.