• Stellar lumen price started a fresh increase above the $0.5000 resistance zone against the US Dollar.
  • XLM price is now trading well above $0.5000 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.4950 on the 4-hours chart (data feed via Kraken).
  • The pair is likely to accelerate higher above the $0.5750 and $0.6000 resistance levels.

Stellar lumen price is gaining pace above $0.5000 against the US Dollar, similar to bitcoin. XLM price could extend its rally once there is a close above $0.5750.

Stellar Lumen Price Analysis (XLM to USD)

After testing the $0.3800 support zone, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.4000 and $0.4500 resistance levels to move into a positive zone.

Read Also:   CryptoPunks NFTs Get $6M in Bids From a Single Account

There was also a break above a major bearish trend line with resistance near $0.4950 on the 4-hours chart. The pair is now trading well above $0.5000 and the 55 simple moving average (4-hours). There was a break above the 50% Fibonacci retracement level of the downward move from the $0.6926 swing high to $0.3812 low.

It is now consolidating gains above the $0.5500 support zone. An immediate resistance is near the $0.5750 level. The 61.8% Fibonacci retracement level of the downward move from the $0.6926 swing high to $0.3812 low is also near the $0.5750 level.

The next major resistance is near the $0.6200 level. A successful break above the $0.6200 resistance level could set the pace for a strong upward move. In the stated case, the price could easily rise towards the $0.6500 level or even $0.6800.

Read Also:   Active Addresses Number of Tether's Tron Version Eclipsed Ethereum Version

On the downside, an initial support is near the $0.5500 level. The first key support is near the $0.5200 level. The main support is now forming near $0.5000 and the 55 simple moving average (4-hours).

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is clearly trading well above $0.5000 and the 55 simple moving average (4-hours). Overall, the price is likely to accelerate higher above the $0.5750 and $0.6000 resistance levels in the near term.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is now gaining momentum in the bullish zone.

4 hours RSI – The RSI for XLM/USD is currently well above the 60 level.

Read Also:   BSC Insurance Project Soteria Launched IFO with Great Success, Setting New Record of Total Fund Raised Reaching 2272.61%

Key Support Levels – $0.5200 and $0.5000.

Key Resistance Levels – $0.5750, $0.6200 and $0.6500.

Tags: stellar, Stellar Lumens, XLM


Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Source link


Stellar Lumen (XLM) Price Gaining Momentum, Bulls Aim $0.65

by Chris T. Schuster
Choose A Format
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format