- Stellar Lumens price is approaching a crucial breakout point
- The price of Stellar is currently trading above $0.1100
- XLM/USD traded as high as $0.1160 and well above the 55-day SMA
Stellar Lumens News Today – the price of Stellar is reportedly approaching a crucial breakout and trading in a positive region above $0.1100. The XLM/USD trading pair traded as high as $0.1160 and sat well above the 55-day SMA on the 4-hour chart. The pair could continue rising above the $0.1180 area.
The price of Stellar Lumens is currently gaining momentum above the $0.1100 price position against the USD. XLM/USD is likely to accelerate higher until it moves above the $0.1160 and $0.1180 areas in the near-term outlook. We can see a major bullish pattern forming on the 4-hour chart with support near $0.1080. In the past week, Stellar formed strong support at $0.0980. The XLM/USD trading pair started a fresh rise above the $0.1020 resistance.
Stellar’s Price Found Initial Support at $0.1112
Stellar broke above $0.1100 and the 55-day SMA on the 4-hour chart. It formed a swing high at $0.1160 before consolidating its gains. There is initial support near $0.1112 on the downside. It is near the 23.6% Fib retracement via the recent wave from $0.0957 to $0.1160. There’s initial major support at $0.1080. There is another major bullish pattern forming with support at $0.1080 on the 4-hour chart.
This pattern is near the 50% Fib retracement area of the recent wave from $0.0957 to $0.1160. There’s another major support near $0.1040 and the 55-day SMA on the 4-hour chart below here the price could revisit $0.0980 in the coming sessions. Further losses may push the price towards the $0.0900 area in the bearish territory.
The MACD for XLM/USD is Gaining Momentum in the Bullish Area
Looking at the upside, the XLM price is facing major resistance at $0.1160 and $0.1180. The next important resistance is near $0.1200. Above here the price of XLM might continue rising to the $0.1250 and $0.1260 area. The chart shows that the XLM price is trading in a positive area above $0.1000. The price of the coin could continue rising above the $0.1180 area as long as it stays above the $0.1000 support. The MACD pattern for the XLM/USD pair is slowly gaining momentum in the bullish area.
Meanwhile, the RSI for the XLM/USD pair is now sitting well above the 50 levels and has a positive bias. Stellar price has several key support levels at $0.1080 and $0.1050. The digital asset has significant resistance areas at $0.1160, $0.1180, and $0.1200.
XLM price has not been impressive recently and the bearish trend may continue shortly. Perhaps new development in the project will push the price higher.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.