Stellar Lumen (XLM) Price Aims Higher If It Clears This Hurdle
Stellar lumen price is rising toward the $0.132 resistance zone against the US Dollar.
XLM price is now trading above $0.120 and the 55 simple moving average (4 hours).
There is a key bullish trend line forming with support near $0.1250 on the 4-hour chart (data feed via Kraken).
The pair could extend its increase if it clears the $0.1280 and $0.1320 resistance levels.
Stellar lumen price is trading above $0.1250 against the US Dollar, like bitcoin. XLM price must stay above the $0.1200 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.1160 level, Stellar Lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1200 resistance zone to move into a positive zone.
The price even cleared the $0.1220 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.1300 before the bears appeared. A high is formed near $0.1276 and the price is now consolidating gains.
XLM is now trading above $0.1220 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1250 on the 4-hour chart.
The price is also stable above the 23.6% Fib retracement level of the upward move from the $0.1161 swing low to the $0.1276 high. On the upside, the price is facing resistance near the $0.128 zone. The next major resistance is near the $0.1320 level.
A clear move above the $0.1320 level might send the price toward the $0.1450 level. Any more gains could lead the price toward the $0.1500 level or even $0.1550 in the coming sessions.
Initial support on the downside is near the $0.1250 level. The next major support sits near the $0.1220 level. It is near the 50% Fib retracement level of the upward move from the $0.1161 swing low to the $0.1276 high. The main support is near the $0.1188 zone. Any more losses could lead the price toward the $0.1150 level in the near term.
The chart indicates that XLM price is now trading above $0.1220 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.128 and $0.132 resistance 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 – $0.1250 and $0.1220.
Key Resistance Levels – $0.1280, $0.1320, and $0.1500.
The post Stellar Lumen (XLM) Price Aims Higher If It Clears This Hurdle appeared first on Live Bitcoin News.
Filed under: Bitcoin - @ December 25, 2023 4:08 am