Ethereum and Stellar’s Lumen Daily Tech Analysis – 04/11/19

Ethereum

Ethereum fell by 0.83% on Sunday. Following a 0.01% loss on Saturday, Ethereum ended the week down 1.41% at $181.73.

A bullish start to the day saw Ethereum rally to an early morning intraday high $185.00 before hitting reverse.

Falling short of the first major resistance level at $185.66, Ethereum slid to a late afternoon intraday low $179.11.

Ethereum fell below the first major support level at $181.38 and the second major support level at $179.50.

Finding support late in the day, Ethereum recovered to $182 levels before a final hour pullback to $181 levels.

In spite of the pullback, Ethereum avoided another fall through the major support levels.

The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.

At the time of writing, Ethereum was down by 0.18% to $181.41. A relatively bearish start to the day saw Ethereum fall from an early morning high $181.95 to a low $180.75.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move through to $182 levels to support a run at the first major resistance level at $184.78.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $181.95.

Barring a broad-based crypto rebound, Sunday’s high $185.0 and first major resistance level would likely limit any upside.

Failure to move through to $182 levels could see Ethereum slide deeper into the red.

A fall back to sub-$181 levels would bring the first major support level at $178.89 into play before any recovery.

Barring an extended sell-off through the day, Ethereum should steer clear of sub-$178 levels.

Looking at the Technical Indicators

Major Support Level: $178.89

Major Resistance Level: $184.78

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Stellar’s Lumen

Stellar’s Lumen slid by 4.77% on Sunday. Reversing a 1.19% rise from Saturday, Stellar’s Lumen ended the week up 4.66% at $0.068373.

A relatively bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.072499.

Stellar’s Lumen broke through the first major resistance level at $0.0719 before hitting reverse.

Falling short of the second major resistance level at $0.0728, Stellar’s Lumen slid to a late morning intraday low $0.068313.

Stellar’s Lumen fell through the first major support level at $0.0697 and the second major support level at $0.0685.

Through the 2^nd half of the day, Stellar’s Lumen recovered to $0.06940 levels before sliding back to $0.06830 levels.

The extended bearish trend remained firmly intact, reaffirmed by 24^th September’s new swing lo $0.051614. Stellar’s Lumen continued to fall short of the 23.6% FIB of $0.1310 following a pullback from $0.13 levels in late June.

At the time of writing, Stellar’s Lumen was up 0.19% at $0.068505. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.069083 before falling to a low $0.068377.

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would need to move through to $0.06970 to support a run at the first major resistance level at $0.07110.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.069083.

Barring a broad-based crypto rebound through the day, the first major resistance level would likely cap any upside.

In the event of a crypto rebound, Stellar’s Lumen would likely revisit Sunday’s high $0.072499 before any pullback.

Failure to move through to $0.06970 levels could see Stellar’s Lumen hit reverse.

A fall through the morning low to sub-$0.068 levels would bring the first major support level at $0.0670 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.0670 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.0670

Major Resistance Level: $0.0711

23.6% FIB Retracement Level: $0.1114

38% FIB Retracement Level: $0.1484

62% FIB Retracement Level: $0.2082

Please let us know what you think in the comments below.

Thanks, Bob