cryptocurrency

Star lumen (XLM) price could start a new high to $0.12

  • The Stellar Lumen price started a new decline from the $0.114 resistance area against the US Dollar.
  • XLM price is now trading above $0.1040 and the 55 simple moving average (4 hours).
  • There was a break above the major descending trend line with resistance near $0.1040 on the 4-hour chart (data feed via Kraken).
  • The pair could start a significant increase if there is a clear move above the $0.1080 resistance area.

The stellar lumen is trading below $0.1080 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)

Over the past week, the Stellar Lumen price experienced a bearish reaction below the $0.1080 support level against the US Dollar. The XLM/USD pair traded below the $0.1050 support level and the 55 simple moving average (4 hours).

It tested the $0.1010 support area as the bulls emerged. A bottom formed near $0.1010 and the price is now consolidating losses. There was a slight increase above the $0.1040 resistance. The price broke the 23.6% Fib retracement level of the recent decline from $0.1140 to the low of $0.1010.

Besides, there was a break above the major downtrend line with resistance near $0.1040 on the 4-hour chart. XLM is now trading above $0.1040 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.1070 region. It is close to the 50% Fib retracement level of the recent decline from $0.1140 to the low of $0.1010. The next major resistance is near the $0.1075 level. A clear move above the $0.1075 level could send the price towards the $0.1140 level. Any further gains could push the price towards the $0.1200 or even $0.1250 level.

There is initial support on the downside near the $0.1040 level. The main support is near the $0.1000 area. Any further losses could push the price towards the $0.0900 level in the near term, below which the price could lead to a retest of $0.0820.

star cavity price

The Schedule It indicates that the price of XLM is now trading above $0.1040 and the 55 simple moving average (4-hours). In general, the price could start a significant increase if there is a clear movement above the $0.1080 resistance area.

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 above the 50 level.

Key Support Levels – $0.1000 and $0.0920.

The main resistance levels are $0.1080, $0.1075 and $0.1140.

Tags: Excellent, Excellent, Lumens, XLM

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