Stellar Lumen Bulls Aim for Momentum Reversal

Stellar lumen price is attempting a fresh increase from the $0.1180 zone against the US Dollar. The pair is now trading above $0.1280 and the 55 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $0.1280 on the 4-hour chart. The pair could accelerate higher if there is a clear move above the $0.140 resistance zone.

Stellar Lumen Attempts to Regain Bullish Momentum

The price of Stellar Lumen (XLM) is making another attempt at an upward move from the $0.1180 level against the US Dollar. Currently, XLM is trading above $0.1280 and the 55-period simple moving average (4-hour chart).

On the 4-hour chart, a break above a crucial bearish trend line with resistance near $0.1280 has occurred (data provided by Kraken). A clear move above the $0.140 resistance zone could trigger further upward momentum for the XLM/USD pair.

XLM is currently trading above $0.1300 against the US Dollar, similar to Bitcoin. For sustained bullish momentum, XLM must overcome the $0.140 resistance level.

Technical Analysis

• Support Levels: $0.1200, $0.1250
• Resistance Levels: $0.1380, $0.140, $0.1520

4-Hour Chart

• MACD: The MACD indicator for XLM/USD is gaining momentum in the bullish zone.
• RSI: The RSI indicator for XLM/USD is now above the 50 level.

Outlook

The price of Stellar Lumen is trading above $0.1200 and the 55-period simple moving average (4-hour chart). Overall, a clear move above the $0.140 resistance zone could trigger a significant upward movement for XLM.

Potential Scenario

If XLM manages to break above $0.140, the price could rally towards the $0.1520 level. Further gains could push the price towards $0.1650 or even $0.170.

Downside Risk

Initial support on the downside is located near the $0.1300 level. The main support lies around the $0.1250 zone. A breach of this level could result in a decline towards $0.1180, and possibly even a retest of $0.1050.