Earn your first Bitcoin Sign up and get a $12 bonus Referral bonus up to $3,000
Sign up
- Stellar lumens price is struggling below the $0.0950 resistance against the US Dollar.
- XLM price is now trading below $0.0920 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $0.0920 on the 4-hours chart (data feed from Kraken).
- If the pair clears the $0.092 resistance level, a recovery wave could start.
Stellar lumens price traded below $0.0920 against the US Dollar, similar to bitcoin. The losses could be extended if XLM price stays below $0.0920.
Stellar Lumens Price Analysis (XLM to USD)
Stellar Lumen price entered a bearish zone against the US Dollar after closing below $0.0950. The XLM/USD pair is gaining bearish momentum below the $0.090 support area.
Finally, the price surged below $0.085. A low was formed near $0.0828 and the price is now correcting losses. It is still below $0.0920 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.0920 on the 4-hours chart.
On the upside, the price is facing resistance near $0.090 and the 55 simple moving average (4-hours). It is close to the 61.8% Fib retracement level of the downtrend from the $0.0948 swing high to $0.0827 low.
The next major resistance is near the $0.0920 area and the trend line. It is close to the 76.4% Fib retracement level of the downside move from the $0.0948 swing high to $0.0827 low. A clear upward break above the $0.092 area could push the price towards $0.0950. Any more gains could lead the price towards $0.1000 or even $0.1050.
An initial support on the downside is near $0.0875. The main support is near the $0.085 area. Any more losses could lead the price to reach the $0.0820 level in the short term, below which the price could even retest $0.0800.
Stellar Lumens (XLM) Price
The chart shows that XLM price is now below $0.0920 and the 55 simple moving average (4-hours). Overall, the price could start a sharp decline if it breaks clearly below the $0.0875 support.
technical indicators
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now above the 50 level.
Key support levels – $0.0875 and $0.082.
Key Resistance Levels – $0.090, $0.0920 and $0.0950.
Tags: Stellar Lumens, Stellar Lumens, XLM
Source of information: Compiled from LIVEBITCOINNEWS by 0x Information.Copyright belongs to the author Aayush Jindal, without permission, may not be reproduced