Stellar Lumen (XLM) Price Forms Bearish Top, Risk of More Losses

Stellar Lumen Price Analysis (XLM to USD)

Stellar Lumen (XLM) Price Forms Bearish Top, Risk of More Losses

Stellar lumen price started a fresh decline from the $0.1158 resistance zone against the US Dollar.
XLM price is now trading below $0.1080 and the 55 simple moving average (4-hours).
There is a major bullish trend line forming with support near $0.1040 on the 4-hours chart (data feed via Kraken).
The pair could continue to move down if it breaks the $0.1040 and $0.1000 support levels.

Stellar lumen price is trading below $0.1080 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1040 support to avoid more losses.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.1020 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.1050 resistance zone to move into a positive zone.
The price even broke the $0.1100 resistance and the 55 simple moving average (4-hours). Finally, it faced resistance near the $0.1158 zone. XLM started a fresh decline and traded below the $0.1100 support zone. There was a clear move below the $0.1080 support and the 55 simple moving average (4-hours).
The price traded below the 50% Fib retracement level of the upward move from the $0.1013 swing low to $0.1157 high. It is now trading below $0.1080 and the 55 simple moving average (4-hours).
It is testing the 76.4% Fib retracement level of the upward move from the $0.1013 swing low to $0.1157 high. An initial support on the downside is near the $0.1040 level. There is also a major bullish trend line forming with support near $0.1040 on the 4-hours chart.
The main support is near the $0.1020 zone. Any more losses could lead the price towards the $0.0950 level in the near term, below which the price might even retest $0.0900.
On the upside, the price is facing resistance near the $0.1075 zone. The next major resistance is near the $0.1085 level. A clear move above the $0.1085 level might send the price towards the $0.1120 level. Any more gains could lead the price towards the $0.1150 level or even $0.1200.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.1080 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.1040 and $0.1000 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 – $0.1040 and $0.1020.
Key Resistance Levels – $0.1085, $0.1120 and $0.1150.

Tags: stellar, Stellar Lumens, XLM

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