Stellar Lumens has contracted sharply, not fully recovering from yesterday’s crash. Along with Ripple, yesterday’s crash stood to hit XLM hard, since it was already in a corrective phase anyway. Consolidation is inevitable, and this will constitute the final phase of the dragon head pattern before another breakout. We are currently hovering at about $0.61 or so, and a Fibonacci Extension Level at $0.68 will provide some resistance. There is a huge vacuum zone below, with the nearest level of support at $0.43, which roughly corresponds with the central moving average of the KRI at $0.41.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
Im a little nerveous about this trade... still waiting like everyone else for that expected wave up... fingers crossed even after this latest bad news.
Side note... I'm curious as to your placement of the numbers/waves. 3 is the top of the wick yet 4 is the top of the candle rather than the bottom of the wick.
@abdqeb, oh, sorry. I wasn't clear. I meant that it was bad news that XLM hasn't broken upward yet... rather than there was some particular news item that came out that was bad.
Side note... I'm curious as to your placement of the numbers/waves. 3 is the top of the wick yet 4 is the top of the candle rather than the bottom of the wick.