Stellar Lumen (XLM) Price Facing Uphill Task Below $0.0750

Stellar Lumen (XLM) Price Facing Uphill Task Below <img width=.0750" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.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-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0750"1828" height="868" src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.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-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.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-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0750" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-2.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-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Stellar lumen price extended its decline below the $0.0750 and $0.0700 supports against the US Dollar.
  • XLM price is currently correcting higher, but it is facing many resistances near $0.0725.
  • There is a crucial bearish trend line forming with resistance near $0.0740 on the 4-hours chart (data feed via Kraken).
  • The pair could either continue to recover above $0.0750 or it might resume its decline to $0.0600.

Stellar lumen price is trading below many key resistances near $0.0750 against the US Dollar. XLM price needs to gain strength above $0.0725 and $0.0750 to continue higher.

Stellar Lumen Price Analysis (XLM to USD)

This past week, stellar lumen price declined heavily below the $0.0800 support area against the US Dollar. The XLM/USD pair even traded below the $0.0750 and $0.0725 support levels. Moreover, there was a close below $0.0725 and the 55 simple moving average (4-hours). Finally, the price broke the $0.0700 support level and traded to a new monthly low at $0.0651.

Recently, it started an upside correction above the $0.0680 resistance. There was a break above the 23.6% Fibonacci retracement level of the last major drop from the $0.0796 high to $0.0651 low. Additionally, the price climbed above the $0.0700 resistance. However, the bulls are currently facing a strong resistance near the $0.0720 level and the 55 simple moving average (4-hours).

Besides, the 50% Fibonacci retracement level of the last major drop from the $0.0796 high to $0.0651 low is also aligned near the $0.0724 level. More importantly, there is a crucial bearish trend line forming with resistance near $0.0740 on the 4-hours chart. Therefore, the price is likely to face a strong resistance near the $0.0725 and $0.0740 levels.

A successful close above the $0.0750 resistance is needed for upside continuation. The next key resistance is near the $0.0768 level, above which the price might surge towards the $0.0815 level. Conversely, the price could start a fresh decrease from $0.0725. An immediate support is near the $0.0680 level and a connecting bullish trend line on the same chart.

Stellar Lumen (XLM) Price Facing Uphill Task Below <img class=.0750"alignnone size-large wp-image-55450 jetpack-lazy-image" src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-2-1100x522.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-2-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.0750" 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-2-1100x522.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 forming a breakout pattern with resistance near $0.0740 and support near $0.0680. As long as the price is below the $0.0725 level and the 55 SMA, there is a risk of a downside break in the coming sessions. On the other hand, a convincing close above $0.0725 and $0.0740 might pump the price above $0.0750 and $0.0768.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is showing positive signs in the bullish zone.

4 hours RSI – The RSI for XLM/USD is currently moving lower towards the 50 level.

Key Support Levels – $0.0680 and $0.0650.

Key Resistance Levels – $0.0725, $0.0740 and $0.0750.

The post Stellar Lumen (XLM) Price Facing Uphill Task Below $0.0750 appeared first on Live Bitcoin News.



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