Stellar Lumen (XLM) Price Struggle Continues, Key Resistance Intact

Stellar Lumen Price Analysis (XLM to USD)

Stellar Lumen (XLM) Price Struggle Continues, Key Resistance Intact

Stellar lumen price is showing bearish signs below the $0.076 resistance zone against the US Dollar.
XLM price is now trading below $0.078 and the 55 simple moving average (4-hours).
There is a major bearish trend line forming with resistance near $0.0780 on the 4-hours chart (data feed via Kraken).
The pair could start a major decline if there is a clear move below the $0.0725 support.

Stellar lumen price is trading below $0.0760 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0725 support to avoid more losses.
Stellar Lumen Price Analysis (XLM to USD)
After a major rejection above the $0.0900 zone, stellar lumen price started a fresh decline against the US Dollar. The XLM/USD pair traded below the $0.0850 support to move into a bearish zone.
There was a move below the $0.0800 and $0.0780 levels. The price even settled below the $0.078 level and the 55 simple moving average (4-hours). A low was formed near $0.0725 and the price is now consolidating losses. The bears seem to be active below the $0.0760 level.
The price is now trading below $0.078 and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.0770 level.
The 23.6% Fib retracement level of the key decline from the $0.0910 swing high to $0.0725 low is also near the $0.0769 level. There is also a major bearish trend line forming with resistance near $0.0780 on the 4-hours chart. A clear upside break above the trend line might send the price towards $0.0800.
Besides, the next major resistance is near the $0.0818 zone. It is close to the 50% Fib retracement level of the key decline from the $0.0910 swing high to $0.0725 low.
A clear move above the $0.0818 level might send the price towards the $0.0850 level. Any more gains could lead the price towards the $0.0880 level or even $0.0910.
An initial support on the downside is near the $0.0738 level. The main support is near the $0.0725 zone. Any more losses could lead the price towards the $0.0700 level in the near term, below which the price might even retest $0.0680.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.078 and the 55 simple moving average (4-hours). Overall, the price could start a major decline if there is a clear move below the $0.0725 support.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is losing momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.0735 and $0.0725.
Key Resistance Levels – $0.0770, $0.0800 and $0.0820.

Tags: stellar, Stellar Lumens, XLM

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