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- Stellar lumen price is struggling below the $0.100 resistance zone against the US Dollar.
- XLM price is now trading below $0.0950 and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $0.0935 on the 4-hour chart (data feed via Kraken).
- The pair could start a recovery wave if it clears the $0.095 resistance.
Stellar lumen price is trading below $0.0950 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it stays below $0.0950.
Stellar Lumen Price Analysis (XLM to USD)
After a close below $0.100, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair even settled below the $0.095 support zone as the bears took control.
Finally, there was a spike below the $0.090 level. A low is formed near $0.0896 and the price is now consolidating losses. It is still trading below $0.0950 and the 55 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.0935 on the 4-hour chart.
On the upside, the price is facing resistance near the $0.0922 level. It is close to the 23.6% Fib retracement level of the recent decline from the $0.0948 swing high to the $0.0896 low.
The next major resistance is near the $0.0932 zone and the trend line. It is close to the 55 simple moving average (4 hours) and the 76.4% Fib retracement level of the recent decline from the $0.0948 swing high to the $0.0896 low. The first major resistance is near the $0.095 level.
A clear upside break above the $0.095 zone might send the price toward $0.0980. Any more gains could lead the price toward the $0.1020 level or even $0.1050.
Initial support on the downside is near the $0.0895 level. The main support is near the $0.088 zone. Any more losses could lead the price toward the $0.0850 level in the near term, below which the price might even retest $0.0820.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.0950 and the 55 simple moving average (4 hours). Overall, the price could start a major decline if there is a clear move below the $0.088 support.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.0880 and $0.085.
Key Resistance Levels – $0.0935, $0.0950, and $0.0980.
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- Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-drops-below-0-10-as-bears-take-control/
