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Stellar Lumen (XLM) Price Could Restarts Increase If It Stays above $0.105

Stellar lumen price recently experienced a downward correction from the $0.120 zone against the US Dollar. Currently, XLM price is trading below $0.1150 and the 55 simple moving average (4 hours). A key bearish trend line is forming with resistance at $0.1150 on the 4-hour chart.

For XLM to see another increase, it must surpass the $0.1150 and $0.120 resistance levels. The cryptocurrency is currently in a positive zone above $0.1080, similar to Bitcoin. To continue its upward trend, XLM’s price needs to stay above the $0.1050 support level.

After consolidating above $0.0920, Stellar lumen price started to climb against the US Dollar. It broke through the $0.1050 resistance and the 55 simple moving average (4 hours), reaching as high as $0.120 before retracing. The price is now below the 23.6% Fib retracement level and is facing resistance near $0.1150.

If XLM manages to break above $0.120, it could target levels around $0.1280 and beyond. On the downside, initial support is at $0.1100, followed by $0.1025. Further losses may lead the price towards $0.0950 in the short term.

In terms of technical indicators, the 4-hour MACD for XLM/USD is losing momentum in the bullish zone, while the RSI is below the 50 level. Key support levels to watch are $0.1050 and $0.1025, with key resistance levels at $0.1150, $0.1200, and $0.1280.

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