XLM Price (Stellar) Surging with XRP, Can Bulls Push It to $0.12?
Stellar (XLM) price started a strong increase against the US Dollar and broke the $0.0950 resistance. XLM price is rising and it could reach $0.120.
The price of Stellar Lumens has steadily increased above $0.0950 against the US Dollar. It is currently trading above $0.100 and the 100 hourly simple moving average. There is a major bullish trend line formed with support near $0.0980 on the hourly chart of the XLM/USD pair (data source: Kraken). The pair could continue higher to $0.1150 and $0.1200 in the short term.
Stellar Lumens Price Increases Over 10%
After forming a strong support above $0.0750, Stellar (XLM) price against the US Dollar rose strongly above $0.0850 along with the surge in XRP. The price has gained more than 10% in the short term, outperforming Bitcoin.
There was a clear break above the $0.0950 and $0.100 resistance levels. The price tested the $0.1050 area. The price formed a high at $0.1043 and it is currently consolidating gains. The price declined slightly below the $0.10 level. The price tested the 23.6% Fibonacci retracement level of the recent rise from the $0.0757 low to $0.1043 high
XLM price is currently trading above the $0.10 resistance and the 100 hourly simple moving average. There is also a major bullish trend line formed with support near $0.0980 on the hourly chart of the XLM/USD pair.
Is XLM Supporting Dips?
If XLM price struggles to continue higher, it could start a downside correction. An immediate support on the downside is near $0.0980 or the trendline.
The next major support is near $0.090 or the 100 hourly SMA. A break below the $0.0900 support could trigger a fresh decline. The next major support on the downside is near $0.0800
Hourly MACD – The MACD for XLM/USD is accelerating in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XLM/USD is currently well above the 50 level
Major support levels – $0.0980 and $0.0900.
Major resistance levels – $0.1050 and $0.1200.
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