XLM Price Struggles Below $0.0880: Can It Bounce Back?

• Stellar lumen price is struggling below the $0.0880 resistance zone against the US Dollar.
• There is a major bearish trend line forming with resistance near $0.0855 on the 4-hour chart (data feed via Kraken).
• XLM price could extend losses if it trades below the $0.0800 support.

Stellar Lumen Price Analysis

Stellar lumen price is trading below $0.0880 against the US Dollar, similar to Bitcoin. After a sharp decline below $0.085, Stellar Lumen price struggled to gain bullish momentum against the US Dollar.

Resistance Levels

The XLM/USD pair traded below the $0.0820 level to move further into a bearish zone. The price is now facing resistance near the $0.0838 level and also close to the 50% Fib retracement level of the recent decline from the $0.0890 swing high to the $