Stellar’s Lumen Technical Analysis – Eyeing Resistance Levels – 02/10/18

Stellar’s Lumen makes an early move, but will need to break back through to $0.26 levels by late morning to support a run at $0.27 levels.
Bob Mason
stellar xlm

Key Highlights

  • Stellar’s Lumen fell by 0.8% on Monday, partially reversing Sunday’s 2.37% rise, to end the day at $0.25896.
  • Recovering from an early dip, Stellar’s Lumen hit a late morning intraday high $0.2648 before hitting reverse, the day’s major resistance levels left untested.
  • Stellar’s Lumen fell through the first major support level at $0.2529 to an early afternoon intraday low $0.25093, before recovering.
  • Support at the 38.2% FIB Retracement Level of $0.258 kicked in to reaffirm the near-term bullish trend formed at 23rd September’s swing hi $0.305.

How to Buy Stellar’s Lumen

Stellar’s Lumen Price Resistance

Stellar’s Lumen slipped by 0.8% on Monday, partially reversing Sunday’s 2.37% gain, to end the day at $0.25896.

It was a particularly volatile day for Stellar’s Lumen going into the quarter, with Stellar’s Lumen recovering from a morning low $0.25801 to a late morning intraday high $0.2648 before coming under pressure from the broader market, the early moves leaving the day’s major support and resistance levels untested.

Tracking the broader market, a late morning sell-off saw Stellar’s Lumen slide through the day’s first major support level at $0.2529 to an early afternoon intraday low $0.25093 before finding support, Stellar’s Lumen managing to avoid $0.24 levels and the day’s second major support level at $0.2448.

Stellar’s Lumen recovered to a late afternoon high $0.26085, but was unable to hold to $0.26 levels by the day’s end, leaving the first major resistance level at $0.2671 untested on the day.

For the bulls, recovering back through the 38.2% FIB Retracement Level of $0.258 continued to support the near-term bullish trend, Stellar’s Lumen having fallen back from 23rd August’s swing hi $0.305 to call on support at the 62% FIB Retracement Level of $0.2289 last week.

At the time of writing, Stellar’s Lumen was up 0.99% to $0.25992, moves through the early morning seeing Stellar’s Lumen recover from a morning low $0.25713 to a morning high $0.26059, breaking back through the 38.2% FIB Retracement Level of $0.258, while coming up short of the first major resistance level at $0.2655.

For the day ahead, a move back through to $0.26 levels would support another run at the first major resistance level at $0.2655, with $0.27 levels in play later in the day should momentum continue to support Stellar’s Lumen through to the day’s end.

Failure to move back through to $0.26 levels could see Stellar’s Lumen give up the morning gains, with any fallback through the 38.2% FIB Retracement Level of $0.258 likely to see Stellar’s Lumen test the day’s first major support level at $0.2517 before any recovery, sub-$0.25 support levels unlikely tested, barring particularly negative news hitting the wires.

Looking at the Technical Indicators


Major Support Level: $0.2517

Major Resistance Level: $0.2655

Fib 23.6% Retracement Level: $0.2759

Fib 38% Retracement Level: $0.258

Fib 62% Retracement Level: $0.2289

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.