Stellar Lumen (XLM) Price Remain Bearish Below $0.0720-$0.0750

Stellar Lumen (XLM) Price Remain Bearish Below <img width=.0720-Stellar Lumen (XLM) Price Remain Bearish Below <img width=.0750" data-lazy-srcset="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-3.png?w=1828&ssl=1 1828w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-3.png?resize=300%2C142&ssl=1 300w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-3.png?resize=768%2C365&ssl=1 768w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-3.png?resize=1024%2C486&ssl=1 1024w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-3.png?resize=720%2C342&ssl=1 720w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/08/Stellar-Lumen-XLM-3.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" 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  • Stellar lumen price retested the key $0.0650 support and recovered higher against the US Dollar.
  • XLM price is currently facing many hurdles on the upside near $0.0720 and $0.0750.
  • There was a break above a major bearish trend line with resistance near $0.0695 on the 4-hours chart (data feed via Kraken).
  • The pair is currently trading near $0.0700 and seems to be facing a strong resistance near $0.0720.

Stellar lumen price is facing an uphill task near $0.0720 against the US Dollar. XLM price could recover if it breaks $0.0720 and $0.0750 in the near term.

Stellar Lumen Price Analysis (XLM to USD)

This past week, stellar lumen price failed to recover above the $0.0720 resistance against the US Dollar. As a result the XLM/USD pair even started a fresh decrease below the $0.0700 level and 55 simple moving average (4-hours). Moreover, there was a break below the $0.0680 support area. Finally, the price retested the $0.0650 support area. The recent swing low was near $0.0654 before the price started an upside correction.

There was a break above the $0.0680 resistance and the 55 simple moving average (4-hours). Moreover, there was a break above a major bearish trend line with resistance near $0.0695 on the 4-hours chart. However, the price struggled near the key $0.0718 and $0.0720 resistance levels. The price is currently correcting below $0.0705 plus the 23.6% Fibonacci retracement level of the recent wave from the $0.0654 low to $0.0719 high.

However, the $0.0685 level is acting as a support along with the 55 simple moving average (4-hours). Additionally, the 50% Fibonacci retracement level of the recent wave from the $0.0654 low to $0.0719 high is also providing support. If there is a downside break below the $0.0680 level and the 55 simple moving average (4-hours), the price could retest the $0.0650 support.

Any further declines below the $0.0650 support might accelerate losses towards the $0.0600 and $0.0580 levels. On the upside, the main resistance is near the $0.0750 level. If there is a successful close above the $0.0720 resistance, the price could recover towards the $0.0750 and $0.0765 resistance levels.

Stellar Lumen (XLM) Price Remain Bearish Below <img class=.0720-Stellar Lumen (XLM) Price Remain Bearish Below <img class=.0750"alignnone size-large wp-image-55541 jetpack-lazy-image" src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-3-1100x522.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://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-3-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.0720-Stellar Lumen (XLM) Price Remain Bearish Below <img class=.0720-Stellar Lumen Price Analysis (XLM to USD).0750" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-3-1100x522.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://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/08/Stellar-Lumen-XLM-3-1100x522.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 attempting to climb higher, but it is facing a strong resistance near $0.0720. The next couple of days could be important and the price is likely to make another attempt to climb higher towards $0.0750 and $0.0765. If it fails, it could break the $0.0650 support.

Technical Indicators

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

4 hours RSI – The RSI for XLM/USD is currently flat above the 50 level.

Key Support Levels – $0.0680 and $0.0650.

Key Resistance Levels – $0.0720, $0.0750 and $0.0765.

The post Stellar Lumen (XLM) Price Remain Bearish Below $0.0720-$0.0750 appeared first on Live Bitcoin News.



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