XLM Retraces

Stellar Lumens has retraced, finding support at $0.35, a level with which readers should be very well aware by now. This should provide support again if needed. After that, we have the lower bound of the KRI at $0.32. Next, we must consider levels of support in the $0.20's including $0.28, and $0.23, both Fibonacci levels. The central moving average of the KRI at $0.40 will now provide resistance. Both Kovach momentum indicators are still bullish, but tapering. 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!