- The Stellar Lumen price started a new decline from the $0.1158 resistance area against the US Dollar.
- XLM price is now trading below $0.1080 and 55 simple moving average (4 hours).
- There is a major bullish trend line forming with support near $0.1040 on the 4 hours chart (data feed via Kraken).
- The pair could continue declining if it breaks above the $0.1040 and $0.1000 support levels.
The Stellar Lumen is trading below $0.1080 against the US Dollar, similar to Bitcoin. XLM price must remain above the $0.1040 support to avoid further losses.
Stellar Lumens Price Analysis (XLM to USD)
After forming a base above the $0.1020 level, the Stellar Lumen price started a new rally against the US Dollar. The XLM/USD pair broke the $0.1050 resistance area to move into positive territory.
The price even broke the $0.1100 resistance and the 55 simple moving average (4-hours). Finally, it faced resistance near the $0.1158 region. XLM started a new low and traded below the $0.1100 support area. There was a clear move below the $0.1080 support and the 55 SMA (4-hours).
The price traded below the 50% Fib retracement level of the upward move from the $0.1013 swing low to $0.1157 high. It is now trading below $0.1080 and the 55 simple moving average (4-hours).
It is testing the 76.4% Fib retracement level of the upward move from the $0.1013 swing low to $0.1157 high. There is initial support on the downside near the $0.1040 level. There is also a major bullish trend line forming with support near $0.1040 on the 4 hours chart.
The main support is near the $0.1020 area. Any further losses could push the price towards the $0.0950 level in the near term, which could retest $0.0900 below it.
On the upside, the price is facing resistance near the $0.1075 region. The next major resistance is near the $0.1085 level. A clear move above the $0.1085 level could push the price towards the $0.1120 level. Any further gains could push the price towards the $0.1150 level or even $0.1200.
The Schedule It indicates that the price of XLM is now trading below $0.1080 and the 55 simple moving average (4 hours). In general, the price may continue to decline if it breaks the $0.1040 and $0.1000 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 – $0.1040 and $0.1020.
The main resistance levels are $0.1085, $0.1120 and $0.1150.
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