Stellar Lumen (XLM) Price Dives 20%, Could Revisit $0.10

Stellar Lumen Price Analysis (XLM to USD)

Stellar Lumen (XLM) Price Dives 20%, Could Revisit $0.10

Stellar lumen price started a fresh decline from the $0.152 resistance against the US Dollar.
XLM price is now trading below $0.1300 and the 55 simple moving average (4-hours).
There is a major bearish trend line forming with resistance near $0.1250 on the 4-hours chart (data feed via Kraken).
The pair could continue to decline towards the $0.1000 support zone in the near term.

Stellar lumen price is trading well below $0.1400 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1000 support to avoid a larger decline.
Stellar Lumen Price Analysis (XLM to USD)
After a struggle near the $0.1520 level, stellar lumen price saw a fresh decline against the US Dollar. The XLM/USD pair traded below the $0.1400 support level to enter a bearish zone.
There was a clear move below the $0.1300 level and the 55 simple moving average (4-hours). The bears were able to push the price below the $0.1250 support zone. It even declined below the 76.4% Fib retracement level of the upward move from the $0.1183 swing low to $0.1536 high.
A low is formed near $0.1105 and the price is now consolidating losses. An initial support on the downside is near the $0.1100 level.
The stated support is near the 1.236 Fib extension level of the upward move from the $0.1183 swing low to $0.1536 high. The main support is near the $0.1000 zone. Any more losses could lead the price towards the $0.0850 level in the near term, below which the price might even test $0.080.
On the upside, the price is facing resistance near the $0.1150 zone. The next major resistance is near the $0.1200 level. There is also a major bearish trend line forming with resistance near $0.1250 on the 4-hours chart.
A clear move above the $0.1250 level might send the price towards the $0.1350 level. Any more gains could lead the price towards the $0.1400 level.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.1250 and the 55 simple moving average (4-hours). Overall, the price could continue to decline towards the $0.1000 support zone in the near term.
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 30 level.
Key Support Levels – $0.1100 and $0.1000.
Key Resistance Levels – $0.1150, $0.1200 and $0.1250.

Tags: stellar, Stellar Lumens, XLM

Leave a Reply

Your email address will not be published. Required fields are marked *

New Brokers
2.8 rating
Buy & sell Crypto in minutes
3.0 rating
Note: Investing involves risks. You can lose your deposit. We advise you to only invest in financial products which match your knowledge and experience.
2.0 rating
Interactive Brokers attracts active traders with low per-share pricing, an advanced trading platform.
4.3 rating
eToro is the world’s leading social trading platform, with thousands of options for traders and investors.
AdonFinance
Risk Warning: The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by AdonFinance. In addition, the content of the website offers no opinion with respect to the suitability of any security or any specific investment. Trading foreign exchange, stocks, cryptocurrencies and commodities is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against traders. Before any investment with any broker you need to carefully consider your targets, previous experience, and risk level. Forex trading can result in the loss of your money, as a result, you are expressly cautioned that you should never invest or trade with money that you cannot afford to lose. For the avoidance of doubt, AdonFinance's service provides Brokers reviews in the Financial market. AdonFinance, its subsidiaries, agents or affiliates will assume no responsibility whatsoever for your trading activity. © Copyright 2021 AdonFinance