Stellar Lumens Rejects Lower Levels

Stellar Lumens has edged lower, within inches of the lower bound of its range which corresponds to the lower bound of the KRI at $0.30. It is still range bound between $0.31 and $0.38, though the upper bound of this range seems to have narrowed to $0.35. If support does not hold, we have the lower bound of the KRI which still sits at $0.30, which is also a psychological level. 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, including the Kovach Chande, which appeared to be turning downwards yesterday so that is a relief. 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.

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