Stellar Lumen Fights to Break $0.0855 Resistance: XLM Price Analysis

• Stellar Lumen price is struggling below the $0.0880 resistance zone against the US Dollar.
• XLM price could extend losses if it trades below the $0.0800 support.
• The pair could start a recovery wave if it clears the $0.0855 resistance.

Current Stellar Lumen Price

Stellar lumen price is trading below $0.0880 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.0800 support.

Bearish Trend Forming

There is a major bearish trend line forming with resistance near $0.0855 on the 4-hour chart (data feed via Kraken). The pair could start a recovery wave if it clears the $0.0855 resistance.

Upside Correction

After a sharp decline below $0.085, Stellar Lumen price struggled to gain bullish momentum against the US Dollar and move further into a bearish zone but there was an upside correction above the 23.6% Fib retracement level of the recent decline from swing high to low levels at $0.0890 and $0786 respectively .

Resistance Levels

The price is now facing resistance near the $0