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    Stellar Lumen price analysis: $0.8900 key breakout level

    By Nathan Batchelor

    14:27, 12 June 2020

    Stellar Lumen price analysis

    Stellar Lumen remains confined within a tight trading range as the popular cryptocurrency prepares for its next major directional move.

    Stellar Lumen technical analysis shows that a breakout above the $0.095 resistance level could spark a major rally in the XLM/USD pair.

    Stellar Lumen medium-term price trend

    Stellar Lumen appears to be preparing for its next major move, as the XLM/USD pair trades sideways alongside the broader cryptocurrency market.

    Stellar Lumen price analysis shows that the XLM/USD pair could rally by $0.065 if the $0.095 resistance level is overcome.

    Stellar Lumen price analysis

    The daily time frame shows that a complex inverted head-and-shoulders pattern appears to be taking shape.

    Buyers need to rally price above the $0.090 level to ignite the mentioned bullish reversal pattern.

    According to the size of the bullish reversal pattern, the XLM/USD pair could rally towards the $0.150 level over the medium term.

    XRP/USD

    0.51 Price
    +0.680% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.01168

    US100

    17,037.80 Price
    -1.980% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 21:00 (UTC)
    Spread 7.0

    ETH/USD

    3,059.32 Price
    -0.540% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 6.00

    Gold

    2,392.09 Price
    +0.540% 1D Chg, %
    Long position overnight fee -0.0192%
    Short position overnight fee 0.0110%
    Overnight fee time 21:00 (UTC)
    Spread 0.40

    Traders should note that the XLM/USD pair’s 2019 trading high is currently located around the $0.165 level.

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    Stellar Lumen short-term price trend

    Stellar Lumen technical analysis over the short term shows that the cryptocurrency has a bullish bias while the price trades above the $0.071 support level.

    Stellar Lumen price analysis

    The one-hour time frame shows that the cryptocurrency is currently trapped within a symmetrical triangle pattern.

    Currently the triangle pattern is narrowing, with the price trapped within the $0.075 to $0.080 levels.

    According to the overall size of the symmetrical triangle pattern, the XLM/USD pair could rally towards the $0.096 area if a bullish breakout above the triangle takes place.

    Stellar Lumen technical summary

    Stellar Lumen technical analysis highlights that the cryptocurrency needs to break above the $0.089 resistance area to ignite a large inverted head-and-shoulders pattern.

    Markets in this article

    XLM/USD
    Stellar / USD
    0.11379 USD
    0.00222 +2.010%

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