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Stellar Lumen: Top Altcoin pick of the day

Major resistance - $0.3285 (200- day MA)

Stellar lumen is continuing its bullish trend for the third consecutive day and jumped almost 4.95% for the day. The pair has broken major resistance at $0.3285 and hits high of $0.3600 yesterday.

Stellar was trading higher after IBM has announced that it testing new Stable coin which runs on Stellar block chain. Stellar Lumens partners with TrasnferTo, global cross border mobile payments to strengthen foreign money transfers.

Technically the pair is trading above 200- day MA and ichimoku daily cloud. This confirms minor trend reversal , a jump till $0.4600/$0.500 is possible.

The near term support is around $0.2800 (ichimoku cloud bottom) and any break below targets $0.2500/$0.2000. It should break below $0.1400 for further weakness.

It is good to buy on dips around $0.3285-$0.3300 with SL around $0.2700 for the TP of $0.46/$0.50.

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