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Stellar Lumen (XLM) Price Eyeing Upside Break Above $0.65

  • Stellar lumen price is trading nicely above the $0.5000 resistance level against the US Dollar.
  • XLM price is now trading well above $0.5500 and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.5500 on the 4-hours chart (data feed via Kraken).
  • The pair is likely to continue higher above the $0.6500 resistance as long as it is above the $0.5500 level.

Stellar lumen price is showing positive signs above $0.5500 against the US Dollar, similar to bitcoin. XLM price could soon accelerate higher above the $0.6500 and $0.6600 levels.

Stellar Lumen Price Analysis (XLM to USD)

After forming a base above the $0.4200 zone, stellar lumen price started a fresh increase against the US Dollar. The XLM/USD pair broke the key $0.4800 and $0.5000 resistance levels to move into a positive zone.

The pair rallied nicely above the $0.5500 resistance. It tested the $0.6500 zone and settled above the 55 simple moving average (4-hours). A high was formed near $0.6555 before there was a downside correction. The price dipped below the $0.6000 level, but the bulls were active near $0.5650.

A low is formed near $0.5657 and the price is now rising. It broke the 50% Fibonacci retracement level of the downward move from the $0.6555 swing high to $0.5657 low.

There is also a major bullish trend line forming with support near $0.5500 on the 4-hours chart. An immediate resistance is near the $0.6200 level. It is near the 61.8% Fibonacci retracement level of the downward move from the $0.6555 swing high to $0.5657 low.

The first major resistance is near the $0.6500 level. A clear break above the $0.6500 level may possibly pump the price towards the $0.7500 and $0.8000 levels in the coming sessions.

If there is no upside break above $0.6500, the price could move down. The first key support is near the $0.5500 level. The main support is now forming near $0.5000 and the 55 simple moving average (4-hours).

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price is clearly trading well above $0.5500 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher above the $0.6500 resistance as long as it is above the $0.5500 level.

Technical Indicators

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

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

Key Support Levels – $0.5500 and $0.5000.

Key Resistance Levels – $0.6200, $0.6500 and $0.7500.

The post Stellar Lumen (XLM) Price Eyeing Upside Break Above $0.65 appeared first on Live Bitcoin News.

Source: Live Bitcoin News

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