- The Stellar Lumen price started a new decline from the $0.13 resistance area against the US Dollar.
- XLM price is now trading below $0.1150 and 55 simple moving average (4 hours).
- There was a break below the major uptrend line with support near $0.1240 on the 4-hour chart (data feed via Kraken).
- The pair could continue to decline if it breaks through the $0.105 and $0.100 support levels.
The stellar lumen is trading at less than $0.1250 against the US dollar, similar to Bitcoin. XLM price must stay above the $0.1000 support to avoid further losses.
Stellar Lumens Price Analysis (XLM to USD)
After forming a base above $0.1050, the Stellar Lumen price started a new rally against the US Dollar. The XLM/USD pair broke the $0.1250 resistance area to move into positive territory.
The price even broke the $0.1320 resistance and the 55 simple moving average (4-hours). Finally, it faced resistance near the $0.1380 area. XLM started a fresh decline and traded below the $0.1320 support area. There was a clear move below the $0.1250 support and the 55 SMA (4-hours).
Besides, there was a break below the major uptrend line with support near $0.1240 on the 4-hour chart. The price traded as low as $0.1049 and is currently collecting losses.
On the upside, the price is facing resistance near the $0.1105 region. It is near the 23.6% Fib retracement level of the downward movement from the $0.1274 swing high to $0.1049 low. The next major resistance is near the $0.1140 level. A clear move above the $0.1140 level could send the price towards the $0.1160 level.
The 50% Fib retracement level of the downward move from the $0.1274 swing high to $0.1049 is also near $0.1160. Any further gains could push the price towards the $0.1250 level or even $0.1320 in the coming days.
There is initial support on the downside near the $0.1050 level. The main support is near the $0.1000 area. Any further losses could push the price towards the $0.0920 level in the near term, which could retest $0.0850 below it.
The Schedule It indicates that the price of XLM is now trading below $0.1250 and the 55 simple moving average (4 hours). In general, the price may continue to decline if it breaks the $0.105 and $0.100 support levels.
4 hours MACD – MACD for XLM/USD is gaining momentum in bearish territory.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.1050 and $0.1000.
The main resistance levels are $0.1120, $0.1150 and $0.1250.
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