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.
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 .
The price is now facing resistance near the $0