Stellar lumen price is trading below $0.150 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.132 support.
After a sharp decline below $0.165, Stellar Lumen price moved into a bearish zone against the US Dollar. The XLM/USD pair traded below the $0.150 level.
There was also a spike below the $0.135 support zone. A low was formed near $0.1332 and the price is now consolidating losses. There was a move above the $0.135 and $0.138 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1719 swing high to the $0.1332 low.
However, the bears were active near the $0.145 zone. XLM is now trading below $0.150 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.140 on the 4-hour chart.
The next key resistance is seen near the $0.142 level. A clear upside break above the $0.142 zone might send the price toward $0.150. Any more gains could lead the price toward the $0.1520 level or even 50% Fib retracement level of the downward move from the $0.1719 swing high to the $0.1332 low.
Initial support on the downside is near the $0.132 level. The next major support is near the $0.1250 zone. Any more losses could lead the price toward the $0.1120 level in the near term, below which the price might even retest $0.1050. The next major support is near $0.10.
The chart indicates that XLM price is now trading below $0.145 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.1420 resistance.
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.132 and $0.125.
Key Resistance Levels – $0.1420, $0.1450, and $0.1520.
The post Stellar Lumen (XLM) Price Faces Uphill Task Near $0.145 appeared first on Live .
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Author: NixCoin
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