Stellar’s Lumen Technical Analysis – Support Levels in Play – 23/04/19

Key Highlights

• Stellar’s Lumen gained 2.69% on Monday. Reversing a 2.31% fall from Sunday, Stellar’s Lumen ended the day at $0.11346.
• An early morning intraday low $0.11049 saw Stellar’s Lumen steer clear of the first major support level at $0.1094.
• A late morning intraday high $0.11539 saw Stellar’s Lumen come within range of the first major resistance level at $0.1159.
• 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 Support

Stellar’s Lumen rose by 2.69% on Monday. Reversing a 2.31% fall from Sunday, Stellar’s Lumen ended the day at $0.11346.

A bearish start to the day saw Stellar’s Lumen slide to an early intraday low $0.11049 before finding support.

Steering well clear of the first major support level at $0.1094, Stellar’s Lumen rallied to a late morning intraday high $0.11539.

Coming within range of the first major resistance level at $0.11590, fell back to an afternoon low $0.11256. Resistance at $0.1150 pinned Stellar’s Lumen back in the afternoon. A second rally to an afternoon high $0.11497 also led to a pullback to sub-$0.1140 levels.

The extended bearish trend remained intact, with Stellar’s Lumen seeing red for the last 2-weeks. Stellar’s Lumen has failed to break back through the 23.6% FIB Retracement Level of $0.1310 to take a run at the 38.2% FIB of $0.1643.

For the bulls, a resumption of the upward trend that led to 6 weeks in the green out of 8 will be needed to bring the 23.6% FIB of $0.1310 back into play.

At the time of writing, Stellar’s Lumen was down just 0.11% to $0.11334. Moves in the early hours saw Stellar’s Lumen rise from a start of a day $0.11287 to a morning high $0.11334.

A relatively range-bound start to the day saw Stellar’s Lumen leave the major support and resistance levels untested.

For the day ahead,

A move through to $0.1140 levels would support a run at the first major resistance level at $0.11520 later in the day.

Support from the broader market would be needed, however, for Stellar’s Lumen to breakout from $0.1140 levels. Barring a broad-based crypto rebound, Stellar’s Lumen would likely come up short of $0.1150 levels.

In the event of a crypto rebound, Stellar’s Lumen could breakout from $0.1150 levels to take a run at the second major resistance level at $0.1169 before any pullback.

Failure to move through to $0.1140 levels could see Stellar’s Lumen hit reverse. A fall through the morning low $0.11287 could see Stellar’s Lumen test the first major support level at $0.1120 before any recovery.

Barring a crypto meltdown, Stellar’s Lumen will likely steer clear of sub-$0.1100 levels. The second major support level at $0.1105 would likely limit the downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.1152

Major Resistance Level: $0.1120

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