Stellar Lumen (XLM) Price Turns Red Below $0.30 | Live Bitcoin News

  • Stellar lumen price started a strong decline from the $0.3400 resistance against the US Dollar.
  • XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.3300 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to decline if there is a break below the $0.2800 and $0.2720 support levels.

Stellar lumen price is gaining bearish momentum below $0.3000 against the US Dollar, similar to bitcoin. XLM price could extend losses if it breaks the $0.2800 support.

Stellar Lumen Price Analysis (XLM to USD)

After a strong decline, stellar lumen price started an upside correction above $0.3000 against the US Dollar. However, the XLM/USD pair failed to clear the $0.3500 resistance zone.

As a result, there was a fresh decline below the $0.3200 support zone. The price broke the 50% Fibonacci retracement level of the upward move from the $0.2734 swing low to $0.3610 high. The price is now trading below $0.3000 and the 55 simple moving average (4-hours).

There is also a key bearish trend line forming with resistance near $0.3300 on the 4-hours chart. The pair is now trading near the $0.2940 support.

It is also testing the 76.4% Fibonacci retracement level of the upward move from the $0.2734 swing low to $0.3610 high.  An immediate support is near the $0.2800 level. The next major support is near the $0.2720 level. A downside break below the $0.2720 support might call for more losses.

The next major support is near the $0.2650 zone. An immediate hurdle on the upside for the bulls could be $0.3020. The first major resistance is now near $0.3200.

If there is a clear break above the $0.3200 resistance zone, the price could start another steady increase. The next key resistance is near the $0.3500 level, above which the price could revisit $0.4000.

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours). Overall, the price could continue to decline if there is a break below the $0.2800 and $0.2720 support levels.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is currently below the 40 level.

Key Support Levels – $0.2800 and $0.2720.

Key Resistance Levels – $0.3050, $0.3200 and $0.3500.

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