Stellar Lumen (XLM) Price Could Take Hit Unless It Clears This Hurdle

• Stellar lumen price is struggling to clear the $0.1265 resistance zone against the US Dollar.
• XLM price is now trading above $0.1185 and the 55 simple moving average (4 hours).
• There is a key bullish trend line forming with support at $0.1185 on the 4-hour chart (data feed via Kraken).
• The pair could extend its decline below the $0.1145 support zone in the near term.

Stellar lumen price is trading below $0.1265 against the US Dollar, like Bitcoin. XLM price could extend losses if it trades below the $0.1145 support.

Stellar Lumen Price Analysis (XLM to USD)

In the past few sessions, Stellar Lumen price struggled to climb above the $0.1265 resistance against the US Dollar. The XLM/USD pair failed to continue higher and started a fresh decline.

There was a move below the $0.1220 and $0.1200 levels. The decline gained pace below the $0.1180 level. A low was formed near $0.1162, and the price is now consolidating losses. There is also a key bullish trend line forming with support at $0.1185 on the 4-hour chart.

XLM is now trading above $0.1185 and the 55 simple moving average (4 hours). Immediate resistance is near the $0.1215 level. It is close to the 50% Fib retracement level of the downward move from the $0.1262 swing high to the $0.1162 low.

The next key resistance is seen near the $0.1240 level or the 76.4% Fib retracement level of the downward move from the $0.1262 swing high to the $0.1162 low. A clear upside break above the $0.1240 zone might send the price toward $0.1300.

Any more gains could lead the price toward the $0.135 level. If not, the price might continue to move down. Initial support on the downside is near the $0.1185 level. The next major support is $0.1145. Any more losses could lead the price toward the $0.1100 level in the near term, below which the price might even test $0.1050.

The chart indicates that XLM price is now trading above $0.1185 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.1240 resistance.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is losing momentum in the bearish zone.

4 hours RSI – The RSI for XLM/USD is now near the 50 level.

Key Support Levels – $0.1185 and $0.1145.

Key Resistance Levels – $0.1220, $0.1240, and $0.1300.