Stellar Lumen (XLM) Price Stuck In Range, Can Bulls Clear This Hurdle?

Stellar Lumen Price Analysis (XLM to USD)

Stellar Lumen (XLM) Price Stuck In Range, Can Bulls Clear This Hurdle?

Stellar lumen price is showing bearish signs below the $0.090 resistance zone against the US Dollar.
XLM price is now trading below $0.0900 and the 55 simple moving average (4-hours).
There is a key contracting triangle forming with resistance near $0.090 on the 4-hours chart (data feed via Kraken).
The pair could start a decent increase if it clears the $0.090 and $0.092 resistance levels.

Stellar lumen price is trading below $0.0920 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.0865 support to avoid more losses.
Stellar Lumen Price Analysis (XLM to USD)
After a minor upside correction, stellar lumen price faced sellers near the $0.0920 zone against the US Dollar. The XLM/USD pair formed a high near $0.0918 before it started a fresh decline.
There was a move below the $0.0900 and $0.0880 levels. The price even settled below the $0.090 level and the 55 simple moving average (4-hours). A low was formed near $0.0860 and the price is now slowly moving higher. There was a break above the $0.0872 level.
The price is now trading near $0.0885 and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.0885 level. It is near the 50% Fib retracement level of the downward move from the $0.0911 swing high to $0.0860 low.
The next hurdle could be near the $0.0900 zone. There is also a key contracting triangle forming with resistance near $0.090 on the 4-hours chart.
The triangle is near the 76.4% Fib retracement level of the downward move from the $0.0911 swing high to $0.0860 low. A clear move above the $0.0900 level might send the price towards the $0.0920 level. Any more gains could lead the price towards the $0.1000 level or even $0.1050.
An initial support on the downside is near the $0.0870 level. The main support is near the $0.0865 zone. Any more losses could lead the price towards the $0.0832 level in the near term, below which the price might even retest $0.0780.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.0900 and the 55 simple moving average (4-hours). Overall, the price could start a decent increase if it clears the $0.090 and $0.092 resistance 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 – $0.0900 and $0.0920.
Key Resistance Levels – $0.0872, $0.0865and $0.0832.

Tags: stellar, Stellar Lumens, XLM

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