Stellar Lumen (XLM) Price Eyes Fresh Surge To $0.125
Stellar lumen price is attempting a fresh increase from the $0.1110 zone against the US Dollar.
XLM price is now trading above $0.1150 and the 55 simple moving average (4 hours).
There is a key bullish trend line forming with support near $0.1140 on the 4-hour chart (data feed via Kraken).
The pair could start a decent increase if there is a clear move above the $0.1180 resistance zone.
Stellar lumen price is trading in a positive zone above $0.1150 against the US Dollar, like Bitcoin. XLM price must clear $0.1180 to gain bullish momentum.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, Stellar lumen price saw a minor rejection near the $0.1185 zone against the US Dollar. The XLM/USD pair traded below the $0.1150 support and tested the $0.1112 zone.
A low is formed near $0.1119 and the price is now attempting a fresh increase. There was a break above the $0.1140 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.1182 swing high to the $0.1119 low.
XLM is now trading above $0.1150 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1140 on the 4-hour chart.
The bulls are now attempting a close above the 76.4% Fib retracement level of the downward move from the $0.1182 swing high to the $0.1119 low. On the upside, the price is facing resistance near the $0.1180 zone. The next major resistance is near the $0.1185 level.
A clear move above the $0.1185 level might send the price toward the $0.120. Any more gains could lead the price toward the $0.1250 level or even $0.1320. Initial support on the downside is near the $0.1140 level or the trend line.
The main support is near the $0.1120 zone. Any more losses could lead the price toward the $0.1100 level in the near term, below which the price might even retest $0.0950.
The chart indicates that XLM price is now trading above $0.1150 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1180 resistance zone.
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 – $0.1150 and $0.1120.
Key Resistance Levels – $0.1180, $0.1200, and $0.1250.
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Filed under: Bitcoin - @ February 19, 2024 5:08 am