Stellar lumen price is showing bearish signs below the $0.100 resistance zone against the US Dollar.
XLM price is now trading below $0.100 and the 55 simple moving average (4 hours).
There is a key bearish trend line forming with resistance near $0.1020 on the 4-hour chart (data feed via Kraken).
The pair could start another decline if it fails to recover above the $0.100 resistance.

Stellar lumen price is trading below $0.100 against the US Dollar, similar to Bitcoin. XLM price must stay above the $0.0920 support to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

After a failed attempt near the $0.1090 zone, Stellar Lumen price started a fresh decline against the US Dollar. The XLM/USD pair traded below the $0.1020 support to move into a bearish zone.

There was a steady decline below the $0.1000 level and the 55 simple moving average (4 hours). The price even tested the $0.0920 level. A low is formed near $0.0921 and the price is now consolidating losses. XLM price is now trading below $0.096 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.096 level. It is close to the 23.6% Fib retracement level of the downward move from the $0.1089 swing high to the $0.0921 low.

The next major resistance is near the $0.1000 zone. It is near the 50% Fib retracement level of the downward move from the $0.1089 swing high to the $0.0921 low. The first major resistance is near the $0.1020 level. There is also a key bearish trend line forming with resistance near $0.1020 on the 4-hour chart.

A clear upside break above the $0.1020 zone might send the price toward $0.1050. Any more gains could lead the price toward the $0.1090 level or even $0.1120.

Initial support on the downside is near the $0.0925 level. The main support is near the $0.092 zone. Any more losses could lead the price toward the $0.0865 level in the near term, below which the price might even retest $0.0850.

The chart indicates that XLM price is now trading below $0.100 and the 55 simple moving average (4 hours). Overall, the price could start a major decline if there is a clear move below the $0.0920 support.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is losing momentum in the bearish zone.

4 hours RSI – The RSI for XLM/USD is now below the 50 level.

Key Support Levels – $0.0920 and $0.090.

Key Resistance Levels – $0.0960, $0.100, and $0.1020.

The post Stellar Lumen (XLM) Price Takes Hit, $0.092 Is The Key appeared first on Live Bitcoin News.

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Filed under: Bitcoin - @ April 24, 2023 5:08 am