Stellar lumen price started a fresh increase above the $0.090 resistance zone against the US Dollar.
XLM price is now trading above $0.090 and the 55 simple moving average (4-hours).
There is a key bullish trend line forming with support near $0.0935 on the 4-hours chart (data feed via Kraken).
The pair could continue to rise if it stays above the $0.0920 and $0.0900 support levels.

Stellar lumen price is trading above $0.0900 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0900 support to rise further.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.085 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.090 resistance zone to move into a positive zone.

The price even broke the $0.0920 resistance and the 55 simple moving average (4-hours). A high was formed near $0.0960 before there was a minor downside correction. The price declined below the $0.0920 level. It even traded below the 23.6% Fib retracement level of the upward move from the $0.0818 swing low to $0.0960 high.

The price is now trading comfortably above the $0.090 level and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.0960 level.

The next major resistance is near the $0.0980 level.  A clear move above the $0.0980 level might send the price towards the $0.100 level. Any more gains could lead the price towards the $0.1120 level or even $0.1150 in the coming days.

An initial support on the downside is near the $0.0932 level or the 55 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.0935 on the 4-hours chart.

The next major support sits near the $0.0900 level. It is close to the 50% Fib retracement level of the upward move from the $0.0818 swing low to $0.0960 high. The main support is near the $0.0875 zone. Any more losses could lead the price towards the $0.085 level in the near term, below which the price might even retest $0.082.

The chart indicates that XLM price is now trading above $0.0900 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it stays above the $0.0920 and $0.0900 support levels.

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 – $0.0920 and $0.0900.

Key Resistance Levels – $0.0960, $0.0980 and $0.1000.

The post Stellar Lumen (XLM) Price Technicals Suggest More Upsides Above $0.1 appeared first on Live Bitcoin News.

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Filed under: Bitcoin - @ January 30, 2023 7:08 am