Stellar’s Lumen Technical Analysis – Resistance Levels in Play – 01/05/19

Key Highlights

• Stellar’s Lumen rallied by 5.03% on Tuesday. Reversing a 1.47% fall from Monday, Stellar’s Lumen ended the day at $0.10557.
• An early morning intraday low $0.09947 saw Stellar’s Lumen hold above the first major support level at 0.0979.
• A late intraday high $0.10637 saw Stellar’s Lumen break through the first major resistance level at $0.1030 and second major resistance level at $0.1059.
• The bearish trend remained firmly intact in spite of solid gains since February. Stellar’s Lumen continued to fall short of the 23.6% FIB Retracement Level of 0.1369.

How to Buy Stellar’s Lumen

Stellar’s Lumen Price Resistance

Stellar’s Lumen rose by 5.03% on Tuesday. Reversing a 1.47% fall from Monday, Stellar’s Lumen ended the day at $0.10557.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.09947 before finding support.

Steering clear of the first major support level at $0.0979, Stellar’s Lumen rallied to an early afternoon high $0.10573 before easing back.

Breaking through the first major resistance level at $0.1030, Stellar’s Lumen came up against the second major resistance level at $0.1059 before easing back to $0.1040 levels.

Late support from the broader market led to Stellar’s Lumen breaking through the second major resistance level to hit an intraday high $0.10637. Stellar’s Lumen was not able to hold above the second major resistance level at the day’s end, however.

The extended bearish trend remained intact, with Stellar’s Lumen seeing red for the last 3-weeks. Stellar’s Lumen continued to fall short of the 23.6% FIB Retracement Level of $0.1310.

At the time of writing, Stellar’s Lumen was up by 1.85% to $0.10752. A bullish start to the day saw Stellar’s Lumen rise from a morning low $0.10609 to a high $0.10851 before easing back.

The early rally saw Stellar’s Lumen come up against the first major resistance level at $0.1081 before the ease back.

For the day ahead,

A hold onto $0.1070 levels through the morning would support a move back through the first major resistance level at $0.1081.

Support from the broader market would be needed, however, for Stellar’s Lumen to hold onto $0.1080 levels.

In the event of a broad-based crypto rally, Stellar’s Lumen would likely take a run at $0.11 levels later in the day. The second major resistance level at $0.1107 would likely cap the upside on the day.

Failure to hold onto $0.1070 levels could see Stellar’s Lumen hit reverse later in the day. A fall through to $0.1040 levels would bring the first major support level at $0.1012 into play before any recovery.

Barring a crypto meltdown, Stellar’s Lumen would likely steer clear of sub-$0.10 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.1012

Major Resistance Level: $0.1081

23.6% FIB Retracement Level: $0.1310

38% FIB Retracement Level: $0.1643

62% FIB Retracement Level: $0.2180

Please let us know what you think in the comments below

Thanks, Bob