- Stellar lumen price started a downside correction from the $0.1380 zone against the US Dollar.
- XLM price is now trading near $0.1300 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.1280 on the 4-hour chart (data feed via Kraken).
- The pair could start another increase if it clears the $0.1315 and $0.1355 resistance levels.
Stellar lumen price is trading above $0.125 against the US Dollar, like bitcoin. XLM’s price must stay above the $0.1250 support to rise again.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.1200 level, Stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1250 resistance zone to move into a positive zone.
The price even cleared the $0.1300 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.1380 before it corrected lower. There was a drop below the $0.132 support level.
The price is now trading below the 50% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1383 high. XLM is now trading above $0.1250 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1280 on the 4-hour chart.
On the upside, the price is facing resistance near the $0.1315 zone. The next major resistance is near the $0.1350 level. A clear move above the $0.1350 level might send the price toward the $0.1380 level.
Any more gains could lead the price toward the $0.1420 level or even $0.1500. Initial support on the downside is near the $0.128 level.
The next major support sits near the $0.1250 level or the 76.4% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1383 high. Any more losses could lead the price toward the $0.1200 level in the near term.
The chart indicates that XLM’s price is now trading near $0.130 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.132 and $0.135 resistance levels.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is losing momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.128 and $0.125.
Key Resistance Levels – $0.1315, $0.1350, and $0.1380.
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