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

Stellar Lumen Price Analysis (XLM to USD)

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

Stellar lumen price started a fresh decline from the $0.1165 resistance zone against the US Dollar.
XLM price is now trading below $0.1120 and the 55 simple moving average (4-hours).
There is a key bearish trend line forming with resistance near $0.1100 on the 4-hours chart (data feed via Kraken).
The pair could continue to move down if it breaks the $0.1080 and $0.1065 support levels.

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.

Tags: stellar, Stellar Lumens, XLM

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