Stellar Lumen (XLM) Price Could Gain Pace If It Clears $0.15
Stellar lumen price is attempting a fresh increase from the $0.1165 zone against the US Dollar.
XLM price is now trading near $0.140 and the 55 simple moving average (4 hours).
There is a key bullish trend line forming with support near $0.1355 on the 4-hour chart (data feed via Kraken).
The pair could accelerate higher if there is a clear move above the $0.1500 resistance zone.
Stellar lumen price is trading above $0.1250 against the US Dollar, like Bitcoin. XLM price must clear $0.1500 to gain bullish momentum.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, Stellar lumen price saw a minor rejection near the $0.1600 zone against the US Dollar. The XLM/USD pair traded below the $0.1500 support and tested the $0.1165 zone.
A low was formed near $0.1166 and the price is now attempting a fresh increase. There was a break above the $0.1280 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.1590 swing high to the $0.1166 low.
XLM is now trading near $0.140 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1355 on the 4-hour chart.
The bulls are now attempting a close above the 61.8% Fib retracement level of the downward move from the $0.1590 swing high to the $0.1166 low. On the upside, the price is facing resistance near the $0.1450 zone. The next major resistance is near the $0.150 level.
A clear move above the $0.150 level might send the price toward the $0.160 zone. Any more gains could lead the price toward the $0.1650 level or even $0.170.
Initial support on the downside is near the $0.1355 level or the trend line. The main support is near the $0.1280 zone. Any more losses could lead the price toward the $0.1220 level in the near term, below which the price might even retest $0.1165.
The chart indicates that XLM price is now trading near $0.140 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.150 resistance zone.
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 – $0.1355 and $0.1220.
Key Resistance Levels – $0.1450, $0.150, and $0.160.
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Filed under: Bitcoin - @ March 11, 2024 4:48 am