StellarLumens Retraces

Stellar Lumens is desperately clinging to support at $0.35, a significant level highlighted many times here. It appears range-bound between $0.31 and $0.38 or so, and made a run for the upper bound of this range before retracing. If support does not hold, we have the lower bound of the KRI which still sits at $0.31, and is just above the psychological level of $0.30. Further, we must consider levels of support in the $0.20's including $0.28, and $0.23, both Fibonacci levels. Both Kovach Momentum Indicators have flat-lined, though the Kovach Chande is turning over which is not encouraging for bulls. The central moving average of the KRI at $0.38 still provides resistance. After that, we must break resistance at $0.43, a Fibonacci level, then $0.47 is the next barrier. Finally, we have $0.50, which was a significant barrier for XLM, then there is a vacuum zone from above until $0.65.

Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!

For daily commentary on cryptocurrencies, subscribe to our newsletter!