Stellar lumen price is trading above $0.0850 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0845 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.075 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.080 resistance zone to move into a positive zone.
The price even broke the $0.0850 resistance and the 55 simple moving average (4-hours). The price is now trading comfortably above the $0.084 level. On the upside, the price is facing resistance near the $0.0912 level. The next major resistance is near the $0.0950 level.
A clear move above the $0.0950 level might send the price towards the $0.100 level. Any more gains could lead the price towards the $0.0920 level or even $0.1000 in the coming days. An initial support on the downside is near the $0.0880 level.
It is near the 23.6% Fib retracement level of the downward move from the $0.0791 swing high to $0.0906 low. The next major support sits near the $0.0845 level. There is also a key bullish trend line forming with support near $0.086 on the 4-hours chart.
The 50% Fib retracement level of the downward move from the $0.0791 swing high to $0.0906 low. The main support is near the $0.080 zone. Any more losses could lead the price towards the $0.075 level in the near term, below which the price might even retest $0.0680.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading above $0.0840 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it stays above the $0.0912 and $0.095 support levels.
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 – $0.0880 and $0.0840.
Key Resistance Levels – $0.0912, $0.0950 and $0.1000.
Source: Read Full Article