Stellar Lumen (XLM) Price Turns Red Below $0.11

Stellar lumen price is trading below $0.1050 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1000 support to avoid more losses.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.1070 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1100 resistance zone to move into a positive zone.

The price even broke the $0.1120 resistance and the 55 simple moving average (4-hours). Finally, it faced resistance near the $0.1140 zone. XLM started a fresh decline and traded below the $0.1120 support zone. There was a clear move below the $0.1050 support and the 55 simple moving average (4-hours).

The price traded as low as $0.1010 and is currently consolidating losses. On the upside, the price is facing resistance near the $0.1040 zone. It is near the 23.6% Fib retracement level of the downward move from the $0.1141 swing high to $0.1010 low.

The next major resistance is near the $0.1075 level. There is also a major bearish trend line forming with resistance near $0.1070 on the 4-hours chart.

The trend line is near the 50% Fib retracement level of the downward move from the $0.1141 swing high to $0.1010 low. A clear move above the $0.1075 level might send the price towards the $0.1120 level. Any more gains could lead the price towards the $0.1200 level or even $0.1250.

An initial support on the downside is near the $0.1010 level. The main support is near the $0.1000 zone. Any more losses could lead the price towards the $0.0920 level in the near term, below which the price might even retest $0.0850.

Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading below $0.1050 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.100 and $0.0980 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 – $0.1000 and $0.0920.

Key Resistance Levels – $0.1040, $0.1075 and $0.1120.

Source: Read Full Article