Stellar Lumen (XLM) Price Turns Sell on Rallies Near $0.092

Stellar Lumen (XLM) Price Turns Sell on Rallies Near $0.092

May 15, 2023

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  • Stellar lumen price is struggling below the $0.0950 resistance zone against the US Dollar.
  • XLM price is now trading below $0.0920 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.0920 on the 4-hour chart (data feed via Kraken).
  • The pair could start a recovery wave if it clears the $0.092 resistance.

Stellar lumen price is trading below $0.0920 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it stays below $0.0920.

Stellar Lumen Price Analysis (XLM to USD)

After a close below $0.0950, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair gained bearish momentum below the $0.090 support zone.

Finally, there was a spike below the $0.085 level. A low is formed near $0.0828 and the price is now correcting losses. It is still trading below $0.0920 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.0920 on the 4-hour chart.

On the upside, the price is facing resistance near the $0.090 level and the 55 simple moving average (4 hours). It is close to the 61.8% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0827 low.

The next major resistance is near the $0.0920 zone and the trend line. It is close to the 76.4% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0827 low. A clear upside break above the $0.092 zone might send the price toward $0.0950. Any more gains could lead the price toward the $0.1000 level or even $0.1050.

Initial support on the downside is near the $0.0875 level. The main support is near the $0.085 zone. Any more losses could lead the price toward the $0.0820 level in the near term, below which the price might even retest $0.0800.

Stellar Lumen (XLM) Price

The chart indicates that XLM price is now trading below $0.0920 and the 55 simple moving average (4 hours). Overall, the price could start a major decline if there is a clear move below the $0.0875 support.

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 – $0.0875 and $0.082.

Key Resistance Levels – $0.090, $0.0920, and $0.0950.

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