Stellar Lumen (XLM) Price Remains Supported For Fresh Rally Above $0.18 | Live Bitcoin News

• Stellar lumen price started a downside correction from the $0.180 zone against the US Dollar.
• XLM price is now trading above $0.1450 and the 55 simple moving average (4 hours).
• There is a key bearish trend line forming with resistance near $0.160 on the 4-hour chart (data feed via Kraken).
• The pair could start another increase if it clears the $0.160 and $0.1675 resistance levels.

Stellar lumen price is trading above $0.150 against the US Dollar, similar to bitcoin. XLM’s price must stay above the $0.145 support to rise again.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.120 level, Stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the $0.150 resistance zone to move into a positive zone.

The price even cleared the $0.1650 resistance and the 55 simple moving average (4 hours). The upward move was such that the price spiked to $0.180 before it corrected lower. There was a drop below the $0.175 support level.

The price is now testing the 50% Fib retracement level of the upward move from the $0.1244 swing low to the $0.1807 high. XLM is now trading above $0.1450 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $0.160 zone. There is also a key bearish trend line forming with resistance near $0.160 on the 4-hour chart. The next major resistance is near the $0.1675 level. A clear move above the $0.1670 level might send the price toward the $0.1800 level.

Any more gains could lead the price toward the $0.1920 level or even $0.20. Initial support on the downside is near the $0.150 level.

The next major support sits near the $0.1450 level or the 61.8% Fib retracement level of the upward move from the $0.1244 swing low to the $0.1807 high. Any more losses could lead the price toward the $0.1250 level in the near term.

The chart indicates that XLM’s price is now trading above $0.145 and the 55 simple moving average (4 hours). Overall, the price could start another increase if it clears the $0.160 and $0.1675 resistance levels.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is losing momentum in the bullish zone.

4 hours RSI – The RSI for XLM/USD is now below the 50 level.

Key Support Levels – $0.150 and $0.145.

Key Resistance Levels – $0.160, $0.1675, and $0.180.

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• Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-remains-supported-for-fresh-rally-above-0-18/