Stellar Lumens Gains Footing

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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Stellar Lumens has gained some traction on Sunday as well. It too rejected the lower bound of the KRI, which is confirmed by a green triangle on Sunday's candle. This rejection seemed to occur at $0.265, a technical level near the psychologically significant $0.25. Beyond that, we have $0.23, and then we must consider levels in the $0.10 handle, starting 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. The Kovach Momentum Indicators are bearish at all levels, except for the OBV on day charts, which has diverged from price for some time now. This suggests a breakout is nigh, but we aren't holding our breath.