Stellar Lumen (XLM) Price Regains Traction, What Could Be The Target?

Stellar Lumen Price Analysis (XLM to USD)

Stellar Lumen (XLM) Price Regains Traction, What Could Be The Target?

Stellar lumen price started a fresh increase above the $0.070 resistance zone against the US Dollar.
XLM price is now trading above $0.0750 and the 55 simple moving average (4-hours).
There was a break above a major bearish trend line with resistance near $0.0738 on the 4-hours chart (data feed via Kraken).
The pair could continue to rise if it stays above the $0.0780 and $0.0750 support levels.

Stellar lumen price is trading above $0.0750 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0750 support to rise further.
Stellar Lumen Price Analysis (XLM to USD)
After forming a base above the $0.070 level, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.0750 resistance zone to move into a positive zone.
There was a clear move above a major bearish trend line with resistance near $0.0738 on the 4-hours chart. The price even broke the $0.0780 resistance and the 55 simple moving average (4-hours). The price is now trading comfortably above the $0.0785 level.
On the upside, the price is facing resistance near the $0.0808 level. It is near the 50% Fib retracement level of the downward move from the $0.0919 swing high to $0.0704 low.
The next major resistance is near the $0.0830 level. It coincides with the 61.8% Fib retracement level of the downward move from the $0.0919 swing high to $0.0704 low. A clear move above the $0.0830 level might send the price towards the $0.0880 level.
Any more gains could lead the price towards the $0.0920 level or even $0.1000 in the coming days. An initial support on the downside is near the $0.0780 level.
The next major support sits near the $0.0760 level. The main support is near the $0.0750 zone. Any more losses could lead the price towards the $0.070 level in the near term, below which the price might even retest $0.0640.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading above $0.0750 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it stays above the $0.078 and $0.075 support levels.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bullish zone.
4 hours RSI – The RSI for XLM/USD is now above the 50 level.
Key Support Levels – $0.0780 and $0.0750.
Key Resistance Levels – $0.0808, $0.0860 and $0.0920.

Tags: stellar, Stellar Lumens, XLM

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