Stellar Lumen (XLM) Price Could Restart Increase above $0.142 | Live Bitcoin News

• Stellar lumen price is attempting a fresh increase from the $0.125 zone against the US Dollar.
• XLM price is now trading above $0.120 and the 55 simple moving average (4 hours).
• There is a major bearish trend line forming with resistance near $0.134 on the 4-hour chart (data feed via Kraken).
• The pair could start a major increase if there is a clear move above the $0.1420 resistance zone.

Stellar lumen price is trading above $0.1250 against the US Dollar, similar to Bitcoin. XLM price must clear $0.1420 to start a fresh increase.

Stellar Lumen Price Analysis (XLM to USD)

This past week, Stellar lumen price saw a major rally above the $0.10 resistance against the US Dollar. The XLM/USD pair rallied above $0.150 before it started a downside correction.

It traded as high as $0.1970 before the price dipped below $0.1500. A low is formed near $0.1254 and the price is now consolidating losses. It is now trading above $0.120 and the 55 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.134 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.134 zone and the trend line. The next major resistance is near the $0.1420 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1970 swing high to the $0.1254 low.

A clear move above the $0.1420 level might send the price toward the $0.160 level. It is near the 50% Fib retracement level of the downward move from the $0.1970 swing high to the $0.1254 low.

Any more gains could lead the price toward the $0.180 level or even $0.1950. Initial support on the downside is near the $0.1250 level. The main support is near the $0.120 zone. Any more losses could lead the price toward the $0.1085 level in the near term, below which the price might even retest $0.100.

The chart indicates that XLM price is now trading above $0.1250 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1420 resistance zone.

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 above the 50 level.

Key Support Levels – $0.1250 and $0.120.

Key Resistance Levels – $0.135, $0.1420, and $0.1600.

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• Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-could-restart-increase-above-0-142/