XLM Price Struggles Below $0.0950: Will Stellar Lumen Bounce Back?

• Stellar Lumen price is struggling below the $0.0950 resistance against the US Dollar.
• XLM price could extend losses if it stays below the $0.0920 and 55 simple moving average (4 hours) support levels.
• A clear upside break above the $0.092 zone might send the price toward $0.0950 or even higher.

Stellar Lumen Price Struggling

Stellar lumen price is trading below $0.0920 against the US Dollar, similar to Bitcoin. XLM price is struggling to stay above a key bearish trend line forming with resistance near $0.0920 on the 4-hour chart (data feed via Kraken). If it fails to stay above this level, XLM could extend losses in the coming sessions.

Resistance Levels

On the upside, Stellar Lumen price is facing resistance near the $0.090 level and the 55 simple moving average (4 hours). It is also close to the 61.8% Fib retracement level of its downward move from the $0.0948 swing high to its current low at $0.0827 . The next major resistance for XLM/USD pair is near the $0.0920 zone and a bearish trend line on 4-hour chart.. A clear upside break above this zone might send Stellar Lumen’s market value towards its next target at around$ 0.0950 and beyond that to possibly reach up to$ 0.1000 or even higher levels in future sessions .

Support Levels

Initial support for Stellar Lumen cryptocurrency on downside lies at around 0.$0875 . The main support is situated close to 0.$085 level which may be breached if there are further downtrends in prices . In such case , XLM/USD pair could test its next major support lying at around 0.$0820 prior hitting any lower levels like$ 0..00800 in upcoming days .

MACD & RSI Indicators

The MACD for XLM/USD pair has gained some bullish momentum in recent times while 4 hours RSI has already crossed past 50 level indicating possibility of recovery wave soon if it manages to breach key resistances stated earlier .

Conclusion

In conclusion , Stellar Lumen prices are struggling well below key resistances & supports as mentioned previously & need to manage breaking these barriers for any uptrend hope in coming days . If not , there may be chances of further decline towards lower support levels as discussed before