Stellar Lumens Finds Support

Stellar Lumens seemed resistant to the clout but has relented the $0.30 handle to find support in at the lower bound of the KRI at $0.27. What we acknowledged as consolidation of volatility has regretfully manifested in a breakout to the downside. This is supported by the Kovach Momentum Indicators, which are now quite bearish on 30-Minute charts. From below we have support from $0.23, which is the last level in the $0.20 handle before we must consider support from a Fibonacci level at $0.19. From above, we have $0.28, $0.30, and $0.312. After that, we will have further resistance in the $0.30 handle which is not encouraging.

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