Stellar lumen price is facing a strong resistance near the $0.0900 level against the US Dollar.
XLM price could break the $0.0800 support and decline sharply in the near term.
There is a major bearish trend line in place with resistance at $0.0870 on the 4-hours chart (data feed via Kraken).
If there is a break below $0.0800, the price could test the $0.0740 support area in the near term.

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Coinspeaker Crypto CREDIT is Africa’s Sleeping GiantIt has been one year since the first block was produced by the CREDIT cryptocurrency brainchild of African blockchain firm Terra. Dubbed “the cryptocurrency for everyone”, this decentralized proof of stake crypto has remained as easy to mine as it always has been, continuing to give holders and stakers […]

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Stellar lumen price was stable as compared to bitcoin and Ethereum against the US Dollar. However, a downside break below the $0.0800 support in XLM could spark heavy bearish moves.
Stellar Lumen Price Analysis (XLM to USD)
There was a strong upward move in stellar lumen price above the $0.0900 resistance in Feb 2019 against the US Dollar. The XLM/USD pair broke many important resistances such as $0.0920 and $0.0950. However, the price failed to clear the $0.0980 and $0.1000 resistance levels. There were two attempts to clear the $0.0980 resistance, but buyers failed. As a result, there was a strong downside reaction and the price declined below the $0.0950 support.
The decline was such that the price settled below the $0.0900 support and the 55 simple moving average (4-hours). Finally, the price broke the $0.0840 support and a low was formed at $0.0807. Recently, the price recovered above $0.0840 and the 23.6% Fibonacci retracement level of the last decline from the $0.0981 high to $0.0807 low. However, the recovery was capped by the $0.0900 resistance area. Besides, the price failed near the 50% Fibonacci retracement level of the last decline from the $0.0981 high to $0.0807 low.
There was a fresh decline below $0.0840 and the 55 simple moving average (4-hours). At the outset, the price is approaching the last swing low at $0.0807. The main support is at $0.0800, below which the price could decline sharply towards the $0.0740 support area. On the upside, an initial resistance is near the $0.0840 level. There is also a major bearish trend line in place with resistance at $0.0870 on the 4-hours chart.


Thursday January 01, 1970

The chart indicates that XLM price is approaching the next crucial break either below $0.0807 or above $0.0870. As long as the price is struggling below $0.0890, there is a risk of a breakdown below $0.0807. The key supports to watch are $0.0800, $0.0780 and $0.0740. The final stop for sellers could be $0.0720.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is currently gaining momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is moved down sharply below the 50 level, with a strong bearish angle.
Key Support Levels – $0.0807 and $0.0800
Key Resistance Levels – $0.0840, $0.0860 and $0.0870.
The post Stellar Lumen (XLM) Price At Risk of Crucial Breakdown appeared first on Live Bitcoin News.

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