cryptocurrency

Star Lumen (XLM) price turns red below $0.11

  • The Stellar Lumen price started a new decline from the $0.115 resistance area against the US Dollar.
  • XLM price is now trading below $0.1050 and 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.1070 on the 4 hours chart (data feed via Kraken).
  • The pair could continue declining if it breaks above the $0.100 and $0.0980 support levels.

The stellar lumen is trading at less than $0.1050 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 the $0.1070 level, the Stellar Lumen price started a new rally against the US Dollar. The XLM/USD pair broke the $0.1100 resistance area to move into positive territory.

The price even broke the $0.1120 resistance and the 55 simple moving average (4-hours). Finally, it faced resistance near the $0.1140 region. XLM started a fresh decline and traded below the $0.1120 support area. There was a clear move below the $0.1050 support level and the 55 SMA (4-hours).

The price traded as low as $0.1010 and is currently collecting losses. On the upside, the price is facing resistance near the $0.1040 region. It is close to the 23.6% Fib retracement level of the downward movement from the $0.1141 swing high to $0.1010 low.

The next major resistance is near the $0.1075 level. There is also a major bearish trend line forming with resistance near $0.1070 on the 4 hours chart.

The trend line is near the 50% Fib retracement level of the downward movement from the $0.1141 swing high to $0.1010 low. A clear move above the $0.1075 level could push the price towards the $0.1120 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 $0.1010 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.

Star Lumen (XLM) Rate

The Schedule It indicates that the price of XLM is now trading below $0.1050 and 55 simple moving average (4 hours). In general, the price may continue to decline if it breaks above the $0.100 and $0.0980 support levels.

Technical Indicators

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 – $0.1000 and $0.0920.

The main resistance levels are $0.1040, $0.1075 and $0.1120.

Tags: Excellent, Excellent, Lumens, XLM

#Star #Lumen #XLM #price #turns #red

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