Stellar Lumen (XLM) Could Hit $0.10

Stellar Lumen (XLM) Could Hit $0.10

The price of Stellar Lumen, measured in US Dollars, has begun a new downward trend after encountering resistance at the $0.13 level.
The price of XLM is currently trading at a level that is lower than $0.1150 and the 55 simple moving average (4-hours).
On the 4-hour chart, a strong bullish trend line that served as support near $0.1240 was violated, and the price fell (data feed via Kraken).

If the pair falls below the $0.105 and $0.100 support levels, it is possible that it may continue its downward movement.

As with bitcoin, the price of a lumen of Stellar is currently below $0.1250 when measured versus the United States Dollar. To prevent further losses, the price of XLM must maintain a position higher than the $0.1000 support.

Analysis of the Price of Stellar Lumen (XLM to USD)

In comparison to the value of the US Dollar, the price of stellar lumen has recently begun an upward trend after finding support above the level of $0.1050. After breaking through the $0.1250 resistance zone, the XLM/USD pair moved into a positive territory.

Even more impressively, the price breached the $0.1320 barrier of resistance as well as the 55 SMA (4-hours). Last but not least, it ran into some opposition in the region of $0.1380. XLM began a new downward trend and traded in a zone that is below the $0.1320 support level. A decisive move was made below the $0.1250 support level, as well as the 55 simple moving average (4-hours).

On top of that, there was a break below a key bullish trend line with support near $0.1240 on the 4-hours chart. This trend line was drawn on the previous price action. The price reached a low of $0.1049 and is now recovering some of its losses after reaching that low.

On the positive side, the price is running into opposition close to the zone of $0.1105. It is currently located close to the 23.6% Fib retracement level of the negative move that began at the swing high of $0.1274 and ended at the low of $0.1049. The next significant barrier to overcome is located close to the $0.1140 level. A decisive rise that takes the price over the $0.1140 level might lead to it moving closer to the $0.1160 level.

Near $0.1160 is also the 50% Fib retracement level of the bearish move that began at the swing high of $0.1274 and ended at the low of $0.1049. In the next days, more price advances might push the value of the cryptocurrency closer to the level of $0.1250 or even $0.1320.

The area around the $0.1050 level acts as an early support on the downside. The zone around $0.1000 constitutes the primary support. If further losses occur, the price may move closer to the level of $0.0920 in the short future; should it fall below that level, it may potentially retest the level of $0.0850.

Stellar Lumen (XLM) Price

According to the chart, the current price of XLM is trading at a level that is lower than $0.1250 and the 55 simple moving average (4-hours). If the price breaks through the $0.105 and $0.100 support levels, it’s possible that it may continue moving lower overall.

Indicators of a Technical Nature

4 hour MACD The MACD for XLM/USD is moving more into the bearish zone, gaining momentum as it does so.

4 hour RSI: The relative strength index (RSI) for XLM/USD is now less than 50.

There are several key support levels, including $0.1050 and $0.1000.

There are three key levels of resistance: $0.1120, $0.1150, and $0.1250.

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