XLM is currently trading above $0.10 against the US Dollar.In order for #XLM price to continue rising, it needs to maintain support above the $0.120 level. Following a period of stability above $0.075, Stellar Lumens experienced a new upward trend against the US Dollar. The XLM/USD pair successfully surpassed the resistance zone at $0.088 and entered a positive zone.
#Stellar Lumens price not only surpassed the $0.100 resistance but also exceeded the 200-hourly simple moving average on the 4-hour chart. The upward momentum was strong, leading to a price spike up to $0.1180 before encountering bearish pressure. The price reached a peak around $0.1181 and is currently in a phase of consolidation, holding on to its gains.
XLM is encountering resistance around the $0.113 area. Further ahead, a significant resistance zone is situated near $0.118. If the price manages to break above this level decisively, it could pave the way for a potential upward movement towards the $0.120 mark. Subsequent gains may even push the price towards the $0.125 level, or possibly even $0.132, in the upcoming sessions.
If XLM is unable to surpass the $0.114 level, the initial support lies around $0.100, which coincides with the trend line. The subsequent significant support can be found near the $0.0965 level or the 50% Fibonacci retracement level, calculated from the upward move between the swing low of $0.0752 and the high of $0.1181. The main support zone is situated around $0.092. Further downward movement could potentially drive the price towards the $0.085 level in the near future.
Price Analysis estimates that the market capitalization of this XLM is $2,889,301,125. The 24-hour trading volume of the coin is around $61,094,237.
KEY LEVELS :
RESISTANCE LEVEL : $0.1100-$0.1140
SUPPORT LEVEL : $0.1020-$0.0980
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.