Stellar Lumen (XLM) Price Eyes Key Breakout To $0.135, Are Bulls Back? | Live Bitcoin News

• Stellar lumen price is attempting a fresh increase from the $0.115 zone against the US Dollar.
• XLM price is now trading above $0.1200 and the 55 simple moving average (4 hours).
• There is a key bullish trend line forming with support near $0.1218 on the 4-hour chart (data feed via Kraken).
• The pair could start a decent increase if there is a clear move above the $0.1240 resistance zone.

Stellar lumen price is trading above $0.1200 against the US Dollar, like Bitcoin. XLM price must clear $0.1240 to gain bullish momentum.

Stellar Lumen Price Analysis (XLM to USD)

After a steady increase, Stellar lumen price saw a rejection pattern near the $0.1240 zone against the US Dollar. The XLM/USD pair traded below the $0.1200 support and tested the $0.1150 zone.

A low is formed near $0.1146 and the price is now attempting a recovery wave. There was a break above the $0.1200 resistance zone. The price climbed above the 76.4% Fib retracement level of the downward move from the $0.1234 swing high to the $0.1146 low.

XLM is now trading above $0.1200 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.1218 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.1240 zone. The next major resistance is near the $0.1255 level. A clear move above the $0.1255 level might send the price toward the $0.1288 level or the 1.618 Fib extension level of the downward move from the $0.1234 swing high to the $0.1146 low.

Any more gains could lead the price toward the $0.1350 level or even $0.1400. Initial support on the downside is near the $0.1220 level or the trend line.

The main support is near the $0.1190 zone. Any more losses could lead the price toward the $0.1165 level in the near term, below which the price might even retest $0.1150.

The chart indicates that XLM price is now trading above $0.120 and the 55 simple moving average (4 hours). Overall, the price could start a major increase if there is a clear move above the $0.1240 resistance zone.

Technical Indicators

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

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

Key Support Levels – $0.1200 and $0.1165.

Key Resistance Levels – $0.1240, $0.1288, and $0.1350.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-eyes-key-breakout-to-0-135-are-bulls-back/