Stellar Lumen (XLM) Price Resume Decline, Risk of More Losses

Stellar lumen price is trading below $0.1200 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1080 support to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

After a decent increase, stellar lumen price faced sellers near the $0.1165 zone against the US Dollar. The XLM/USD pair formed a high near $0.1165 before it started a fresh decline.

There was a move below the $0.1150 and $0.1120 support levels. The pair even declined below the $0.1100 level and the 55 simple moving average (4-hours). Finally, it traded as low as $0.1071 before there was an upside correction.

The price corrected higher above the $0.1088 level. XLM climbed above the 23.6% Fib retracement level of the downward move from the $0.1165 swing high to $0.1071 low.

On the upside, the price is facing resistance near the $0.1118 zone and the 55 simple moving average (4-hours). There is also a key bearish trend line forming with resistance near $0.1100 on the 4-hours chart. It is near the 50% Fib retracement level of the downward move from the $0.1165 swing high to $0.1071 low.

The next major resistance is near the $0.1120 level. A clear move above the $0.1120 level might send the price towards the $0.1165 level. Any more gains could lead the price towards the $0.1200 level or even $0.1220.

An initial support on the downside is near the $0.1080 level. The main support is near the $0.1065 zone. Any more losses could lead the price towards the $0.1020 level in the near term, below which the price might even retest $0.1000.

Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading below $0.1200 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.1080 and $0.1065 support levels.

Technical Indicators

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

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

Key Support Levels – $0.1080 and $0.1065.

Key Resistance Levels – $0.1118, $0.1120 and $0.1165.

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