Monday, March 11, 2019

Stellar Lumen (XLM) Price Rally Could Extend To $0.1100

  • Stellar lumen price rallied recently above the $0.1000 resistance area against the US Dollar.
  • XLM price formed a strong support near the $0.0800 level before climbing higher.
  • There was a break above a crucial bearish trend line with resistance at $0.0845 on the 4-hours chart (data feed via Kraken).
  • The pair is likely to extend gains above the $0.1050 and $0.1080 resistance levels.

Stellar lumen price gained bullish momentum recently against the US Dollar, bitcoin and Ethereum. XLM price broke the key $0.1000 resistance and it may extend gains above $0.1080.

Stellar Lumen Price Analysis (XLM to USD)

In the last analysis, we saw a crucial support near $0.0807 in stellar lumen price against the US Dollar. The XLM/USD pair formed a strong support near the $0.0800 level and later started a solid upward move. It broke the $0.0840 resistance level to move into a positive zone. There was also a close above the $0.0850 resistance and the 55 simple moving average (4-hours). Besides, there was a break above the 50% Fibonacci retracement level of the last decline from the $0.0980 swing high to $0.0807 low.

More importantly, there was a break above a crucial bearish trend line with resistance at $0.0845 on the 4-hours chart. It opened the doors for more gains and the price surged above $0.0980 and $0.1000. Recently, the price broke the $0.1020 resistance. It represents the 1.236 Fib extension level of the last decline from the $0.0980 swing high to $0.0807 low. The price is clearly placed in an uptrend and it seems like it could continue to rise towards the $0.1060 and $0.1080 resistance levels.

The main stop for buyers could the $0.1088 level. It coincides with the 1.618 Fib extension level of the last decline from the $0.0980 swing high to $0.0807 low. If there is a downside correction, the price is likely to test the $0.1000 level. The previous resistance at $0.1000 and $0.0980 is likely to act as a strong support. Therefore, dips remain supported near the $0.0980 level in the near term.

Stellar Lumen Price Analysis XLM Chart

The chart indicates that XLM price is clearly placed in an uptrend and it is likely to extend gains above the $0.1050 and $0.1080 resistance levels. Above $0.1088, the price may even spike above the $0.1100 level. The next major resistance is at $0.1125 and $0.1145. Below $0.0980, the price could revisit the $0.0925 support level.

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 climbed higher sharply above the 50 level, with a strong bullish angle.

Key Support Levels – $0.1000 and $0.0980

Key Resistance Levels – $0.1050, $0.1060 and $0.1088.

The post Stellar Lumen (XLM) Price Rally Could Extend To $0.1100 appeared first on Live Bitcoin News.



Stellar Lumen (XLM) Price Rally Could Extend To $0.1100

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