bullish

Bitcoin

Resistance

Stellar

Stellar (XLM) started a strong increase above the $0.0950 resistance against the US Dollar. XLM price is gaining pace and might aim for $0.120. 
<ul> 
 <li>There was a steady increase in Stellar’s token price above $0.0950 against the US dollar.</li> 
 <li>It is now trading above $0.100 and the 100 hourly simple moving average.</li> 
 <li>There is a major bullish trend line forming with support near $0.0980 on the hourly chart of the XLM/USD pair (data source from Kraken).</li> 
 <li>The pair is likely to continue higher towards $0.1150 and $0.1200 in the near term.</li> 
</ul> 
<h2 id="stellar-price-rallies-over-10">Stellar Price Rallies Over 10%</h2> 
After forming a strong support base above $0.0750, Stellar (XLM) saw a strong increase above $0.0850 against the US Dollar, following <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-rallies-0-640/" target="_blank" rel="noopener ">XRP</a> surge. It gained over 10% beating <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-upsides-58k/" target="_blank" rel="noopener ">Bitcoin</a> in the short term. 
There was a clear move above the $0.0950 and $0.100 resistance levels. The price tested the $0.1050 zone. A high was formed at $0.1043 and the price is now consolidating gains. There was a minor decline below the $0.10 level. The price tested the 23.6% Fib retracement level of the recent increase from the $0.0757 low to the $0.1043 high. 
XLM price is now trading above the $0.10 resistance and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $0.0980 on the hourly chart of the XLM/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-633942 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461" alt="Stellar Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/08/Stellar-XLM.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
On the upside, an immediate resistance is near the $0.1050 level. The next major resistance is near the $0.1120 level, above which the price could test $0.1150. A close above the $0.1150 level might start a steady increase toward the $0.1200 and $0.1250 levels. The next major stop could be $0.1300 or even $0.1320. 
<h2 id="are-dips-supported-in-xlm">Are Dips Supported in XLM?</h2> 
If XLM price struggles to continue higher, it could start a downside correction. Immediate support on the downside is near the $0.0980 level or the trend line. 
The next major support is near the $0.090 level or the 100 hourly SMA. A clear break below the $0.0900 support zone could spark a fresh decline. The next major support on the downside is near the $0.0800 level. 
Technical Indicators 
Hourly MACD – The MACD for XLM/USD is gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XLM/USD is currently well above the 50 level. 
Major Support Levels – $0.0980 and $0.0900. 
Major Resistance Levels – $0.1050 and $0.1200.

XLM Price (Stellar) Surges Along XRP, Can Bulls Push It To $0.12?

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