Below $0.11, the Stellar Lumen (XLM) Price Turns Red.

Below $0.11, the Stellar Lumen (XLM) Price Turns Red.

  • The price of a stellar lumen plunged against the US dollar from the $0.115 resistance area.
  • The price of XLM is currently trading lower than $0.1050, which is also below the 55 simple moving average (4-hours).
  • On the 4-hour chart, a big negative trend line is forming with resistance near $0.1070. This could signal a potential downward price movement (data feed via Kraken).
  • If the price of the pair breaks through the $0.100 and $0.0980 support levels, it is possible that it will continue its downward movement.

In the same vein as bitcoin, the price of a lumen of Stellar is currently trading below $0.1050 versus the US 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 $0.1070. After breaking above the $0.1100 resistance level, the XLM/USD pair moved into a bullish territory.

Even more significantly, the price breached the $0.1120 barrier, as well as the 55-day simple moving average (4-hours). Last but not least, it ran against some opposition around the $0.1140 zone. XLM began a new downward trend and traded in a zone that is below the $0.1120 support level. There was a very noticeable movement below the $0.1050 support as well as the 55 simple moving average (4-hours).

Price reached a low of $0.1010 per unit and is currently consolidating losses after trading that low. The price is encountering opposition close to the $0.1040 zone, which is located on the upswing. It is currently located close to the 23.6% Fib retracement level of the negative move that began at the swing high of $0.1141 and ended at the low of $0.1010.

The next significant barrier is located close to the $0.1075 level. On the 4-hour chart, a major negative trend line is forming with resistance near $0.1070. This trend line is also weighing on the price.

The swing high of $0.1141 and the low of $0.1010 are both below the trend line, which is close to the 50% Fib retracement level of the downward move. A decisive rise that takes the price over the $0.1075 level might lead to it moving closer to the $0.1120 level. In the event that gains continue, the price may go closer to the level of $0.1200 or perhaps $0.1250.

The area around the $0.1010 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.

According to the chart, the current price of XLM is trading at a level that is lower than $0.1050 and the 55 simple moving average (4-hours). If the price breaks through the $0.100 and $0.0980 support levels, it is 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.

Two important support levels are located at $0.1000 and $0.0920.

There are three key levels of resistance: $0.1040, $0.1075, and $0.1120.

Tags: stellar, Stellar Lumens, XLM

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