Stellar Lumen (XLM) Price Aims Fresh Rally If It Clears This Hurdle | Live Bitcoin News

• Stellar lumen price is attempting a fresh increase from the $0.1020 zone against the US Dollar.
• XLM price is now trading above $0.1050 and the 55 simple moving average (4 hours).
• There was a break above a connecting bearish trend line with resistance near $0.1048 on the 4-hour chart (data feed via Kraken).
• The pair could start a decent increase if there is a clear move above the $0.1106 resistance zone.

Stellar lumen price is trading above $0.1050 against the US Dollar, like Bitcoin. XLM price must clear $0.1106 to gain bullish momentum.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, Stellar lumen price saw a rejection pattern near the $0.1165 zone against the US Dollar. The XLM/USD pair traded below the $0.1100 support and tested the $0.1020 zone.

A low is formed near $0.1011 and the price is now attempting a recovery wave. There was a break above the $0.1050 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1165 swing high to the $0.1011 low.

Besides, there was a break above a connecting bearish trend line with resistance near $0.1048 on the 4-hour chart. XLM is now trading above $0.1050 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.1080 zone. The next major resistance is near the $0.1106 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.1165 swing high to the $0.1011 low.

A clear move above the $0.1106 level might send the price toward the $0.1165 level. Any more gains could lead the price toward the $0.1200 level or even $0.1220.

Initial support on the downside is near the $0.1050 level. The main support is near the $0.1020 zone. Any more losses could lead the price toward the $0.1000 level in the near term, below which the price might even retest $0.0950.

The chart indicates that XLM price is now trading above $0.1050 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1106 resistance zone.

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 – $0.1050 and $0.1020.

Key Resistance Levels – $0.1080, $0.1106, and $0.1165.

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• Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-aims-fresh-rally-if-it-clears-this-hurdle/