XLM Price Drops Below $0.10 As Bears Take Control

• Stellar Lumen (XLM) price is struggling to break above the $0.100 resistance against the US Dollar.
• There is a major bearish trend line forming with resistance near $0.0935 on the 4-hour chart (data feed via Kraken).
• The pair could start a recovery wave if it clears the $0.095 resistance.

Stellar Lumen Price Analysis

Stellar lumen price is trading below $0.0950 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it stays below $0.0950. After a close below $0.100, Stellar Lumen price moved into a bearish zone against the US Dollar and there was a spike below the $0.090 level, forming a low of $0.0896 before consolidating losses.

Resistance and Support Levels

The price is facing resistance near the $0.0922 level, close to the 23.6% Fib retracement level of the recent decline from the swing high at $0.0948 to low at$ 0 .0896 . The next major resistance is near the 55 Simple Moving Average (4 hours) and 76 .4 % Fib retracement level of recent decline from swing high at 0 .948 to low at 0 .896 ,near 0 .0932 zone , while first major resistance lies near 0 .95 zone .On upside , if price breaks above 0 .95 zone then it may rally towards 0 .98 or even 1 .02 levels in coming sessions . On downside , initial support lies near 0 895 level and main support lies near 0 88 zone which will decide further trend in coming sessions for Stellar Lumens (XLM )price

Moving Averages

The XLM/USD pair is still trading below its 55 simple moving average (4 hours). It indicates that bears have an upper hand and any upside move might face sellers around this area in the coming sessions particularly if bulls fail to push prices back above its 50 SMA which will be considered as strong sign for bullish recovery in coming days for stellar lumens prices

MACD & RSI Indicators

The MACD for XLM/USD is gaining momentum in bearish zone while RSI has dropped below 50 levels indicating selling pressure on coin prices intraday indicating more downside movement in short term likely ahead..

Conclusion

Overall,If there’s a clear move below key support area of$ 088 ,then XLM/USD pair could extend losses towards next key supports like$ 0850 or even lower down upto$ 0820 marks in short term..