Stellar Lumen (XLM) Price Could Resume Downtrend Below $0.112 | Live Bitcoin News

• Stellar lumen price is struggling below the $0.125 resistance zone against the US Dollar.
• XLM price is now trading below $0.120 and the 55 simple moving average (4 hours).
• There is a key bearish trend line forming with resistance near $0.123 on the 4-hour chart (data feed via Kraken).
• The pair could start a fresh increase if it clears the $0.125 resistance.

Stellar lumen price is trading below $0.125 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.112 support.

Stellar Lumen Price Analysis (XLM to USD)

After a sharp decline below $0.112, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair traded below the $0.105 level.

There was also a spike below the $0.102 support zone. A low was formed near $0.100 and the price recently corrected higher. There was a move above the $0.115 and $0.120 levels. However, the bears seem to be active near the $0.135 zone.

A high is formed near $0.1326 and the price is again moving lower. There was a move below the 23.6% Fib retracement level of the upward move from the $0.100 swing low to the $0.1326 high.

XLM is now trading below $0.120 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.123 on the 4-hour chart.

The next key resistance is seen near the $0.125 level. A clear upside break above the $0.125 zone might send the price toward $0.135. Any more gains could lead the price toward the $0.144 level. If not, the price might continue to move down.

Initial support on the downside is near the $0.116 level. The next major support is near the $0.1125 zone or the 61.8% Fib retracement level of the upward move from the $0.100 swing low to the $0.1326 high.

Any more losses could lead the price toward the $0.105 level in the near term, below which the price might even retest $0.1000. The next major support is near $0.095.

The chart indicates that XLM price is now trading below $0.125 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.125 resistance.

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 above the 50 level.

Key Support Levels – $0.116 and $0.112.

Key Resistance Levels – $0.125, $0.135, and $0.144.

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• Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-could-resume-downtrend-below-0-112/