Stellar Lumen (XLM) Price Remains In Downtrend Below $0.0820

Stellar Lumen (XLM) Price Remains In Downtrend Below <img width=.0820" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0820"1828" height="868" src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?fit=1828%2C868&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0820" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Stellar lumen price corrected higher after trading to a new monthly low at $0.0716 against the US Dollar.
  • XLM price is currently trading below the key $0.0800 and $0.0815 resistance levels.
  • There is a major bearish trend line forming with resistance near $0.0790 on the 4-hours chart (data feed via Kraken).
  • The pair could resume its decline unless there is an upside break above the $0.0800 and $0.0820 levels.

Stellar lumen price is trading in a bearish zone below $0.0820 against the US Dollar. XLM price might resume its decline towards the $0.0700 support area.

Stellar Lumen Price Analysis (XLM to USD)

This past week, stellar lumen price declined heavily below the $0.0815 support area against the US Dollar. The XLM/USD pair traded below the $0.0800 support and the 55 simple moving average (4-hours). Moreover, there was a break below the $0.0750 support and the price traded to a new monthly low at $0.0716. Recently, it started an upside correction above the $0.0750 resistance.

There was a break above the $0.0780 resistance plus the 50% Fibonacci retracement level of the downward move from the $0.0844 high to $0.0716 low. However, the upward move was capped by the key $0.0800 resistance area. More importantly, there is a major bearish trend line forming with resistance near $0.0790 on the 4-hours chart. The price also failed to settle above the $0.0795 level and the 55 simple moving average (4-hours).

Additionally, the price topped near the 61.8% Fibonacci retracement level of the downward move from the $0.0844 high to $0.0716 low. At the moment, the price is declining and is trading below the $0.0780 level. If it continues to decline, the $0.0750 level might provide support. However, if the price fails to stay above $0.0750, the bears could eye the $0.0720 and $0.0700 support levels.

Conversely, the price must break the trend line, the 55 SMA, and the $0.0800 resistance to start a decent upward move. More importantly, the price must surpass the $0.0815 and $0.0820 resistances (the previous supports) to move into a bullish zone.

Stellar Lumen (XLM) Price Remains In Downtrend Below <img class=.0820"alignnone size-large wp-image-55355 jetpack-lazy-image" src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-1-1100x522.png?resize=1100%2C522&ssl=1" alt="Stellar Lumen Price Analysis (XLM to USD)" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-1-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.0820" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-1-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

The chart indicates that XLM price is clearly trading below a few important resistances near $0.0800 and $0.0815. Therefore, the price is likely to resume its decline unless there is an upside break above the $0.0800 and $0.0820 levels. The main support on the downside is near $0.0750, below which the price could test the $0.0700 level.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is gaining strength in the bearish zone.

4 hours RSI – The RSI for XLM/USD is currently near the 50 level, with a bearish angle.

Key Support Levels – $0.0750 and $0.0700.

Key Resistance Levels – $0.0800, $0.0815 and $0.0820.

The post Stellar Lumen (XLM) Price Remains In Downtrend Below $0.0820 appeared first on Live Bitcoin News.



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