Currently, the #Stellar Lumens price is trading below $0.150 against the US Dollar, mirroring the movement of Bitcoin. In order for XLM to experience further gains, it is crucial for its price to maintain support above the $0.140 level.
Following a consolidation period above $0.120, the Stellar Lumens price initiated a new uptrend against the US Dollar. As a result, the XLM/USD pair successfully breached the $0.150 resistance zone, signaling a shift into a positive zone.
The Stellar Lumens price exhibited significant strength, surpassing the $0.1650 resistance level. During this upward surge, the price even reached as high as $0.180 before experiencing a corrective decline. Consequently, it slipped below the $0.175 support level.
Currently, the price is undergoing a test of the 50% Fibonacci retracement level of the upward movement, starting from the $0.1241 swing low and reaching the $0.1809 high. Notably, XLM is trading above $0.1500 and remains above the 200 hourly simple moving average.
XLM price faces obstacles in its upward journey, with significant resistance at $1.530 and the subsequent one at $0.160. A crucial bearish trend line around $0.160 is also hindering its progress. Breaking above $0.1675 convincingly could lead to further gains, targeting $0.1800, $0.1920, and potentially $0.2000 in the long run.
The initial downside support for the XLM price is approximately at the $0.1450 level or the 61.8% Fibonacci retracement level of the upward movement from the $0.1241 swing low to the $0.1809 high. Following this, a significant support zone lies near $0.1350. In the event of further losses, the price might approach the $0.1250 level in the near future.
According to CoinGabbar Price Analysis estimates that the market capitalization of this #XLM is $3,977,874,276. The 24-hour trading volume of the coin is around $202,657,864.
KEY LEVELS :
RESISTANCE LEVEL : $0.1520-$0.1600
SUPPORT LEVEL : $0.1400-$0.1320
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.
