• Stellar Lumen (XLM) price is facing a major resistance near the $0.090 zone against the US Dollar.
• There is a key contracting triangle forming with resistance near $0.0890 on the 4-hours chart.
• XLM price must stay above the $0.084 support to rise further and clear the $0.0890 and $0.090 resistance levels for more gains towards $0.0932 and beyond.
Stellar Lumen Price Analysis
Stellar lumen price is trading above $0.0820 against the US Dollar, similar to bitcoin.
Resistance Levels
The bulls pushed the price above the 50% Fib retracement level of the main decline from the $0.0978 swing high to $0.0746 low.
On the upside, the price is facing resistance near the $0.0890 zone which is near 61.8% Fib retracement level of the main decline from swing high to swing low.
The next major resistance is near at around 0$.0900 which if broken could send XLM towards 0$.0932 or even higher.
Support Levels
An initial support on downside lies at around 0$.0865 followed by 0$.084 and most importantly 0$.08004.
>Technical Indicators>4 hours MACD –
The MACD for XLM/USD is gaining momentum in bullish zone.
>4 hours RSI –
The RSI for XLM/USD is now above 50 level.
>Key Support Levels –
$0.0840 and$ 0 . 08 00.
>Key Resistance Levels –
$0 . 08 90 ,$ 0 . 09 00..
. Overall,the price could start a decent increase if it clears these levels.