Stellar Lumens Continues Pullback

Stellar Lumens has continued to retrace, which should be understandable, as it rallied over 1000% in a matter of days. It is most likely forming a dragon head pattern, from which we will see some consolidation. We are currently hovering at about $0.65 though there is a 2.618 Fibonacci Extension Level at $0.68, where we can expect to consolidate before another breakout. The problem with such a prolific rally is that 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.

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