Stellar lumen price is rising toward the $0.120 resistance zone against the US Dollar.
XLM price is now trading above $0.10 and the 55 simple moving average (4 hours).
There is a key bullish trend line forming with support near $0.100 on the 4-hour chart (data feed via Kraken).
The pair could start another increase if it clears the $0.115 and $0.120 resistance levels.

Stellar lumen price is trading above $0.10 against the US Dollar, similar to Bitcoin. XLM price must stay above the $0.120 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 $0.088 resistance zone to move into a positive zone.

The price even cleared the $0.0950 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spike to $0.1180 before the bears appeared. A high was formed near $0.1177 and the price is now consolidating gains.

XLM is now trading above $0.10 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.100 on the 4-hour chart.

The price is also stable above the 23.6% Fib retracement level of the upward move from the $0.0752 swing low to the $0.1177 high. On the upside, the price is facing resistance near the $0.114 zone. The next major resistance is near the $0.118 level.

A clear move above the $0.118 level might send the price toward the $0.120 level. Any more gains could lead the price toward the $0.1250 level or even $0.1320 in the coming sessions.

Initial support on the downside is near the $0.100 level and the trend line. The next major support sits near the $0.0965 level or the 50% Fib retracement level of the upward move from the $0.0752 swing low to the $0.1177 high.

The main support is near the $0.092 zone. Any more losses could lead the price toward the $0.085 level in the near term.

The chart indicates that XLM price is now trading above $0.10 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.114 and $0.12 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 – $0.100 and $0.0965.

Key Resistance Levels – $0.115, $0.120, and $0.132.

The post Stellar Lumen (XLM) Price Could Rally Further above $0.12 appeared first on Live Bitcoin News.

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Filed under: Bitcoin - @ July 3, 2023 5:08 am