Stellar Lumens Hit Hard

Stellar Lumens has contracted sharply, not fully recovering from yesterday’s crash. Along with Ripple, yesterday’s crash stood to hit XLM hard, since it was already in a corrective phase anyway. Consolidation is inevitable, and this will constitute the final phase of the dragon head pattern before another breakout. We are currently hovering at about $0.61 or so, and a Fibonacci Extension Level at $0.68 will provide some resistance. There is a huge vacuum zone below, with the nearest level of support at $0.43, which roughly corresponds with the central moving average of the KRI at $0.41.

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