FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
33,684,340Confirmed
1,008,527Deaths
24,989,521Recovered
Fetching Location Data…
Advertisement
Advertisement
Bob Mason
cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

Ethereum

Ethereum rallied by 5.92% on Monday. Reversing a 3.7% slide from Sunday, Ethereum ended the day at $180.26.

A bearish start to the day saw Ethereum fall to an early morning intraday low $168.61 before making a move.

Steering clear of the first major support level at $166.08, Ethereum rallied to a late afternoon intraday high $182.50.

Ethereum broke through the first major resistance level at $175.70 and the second major resistance level at $181.22.

A late pullback to $180 levels saw Ethereum fall back through the second major resistance level. Holding onto $180 levels at the day end was key, however.

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 up by 1.46% to $182.89. A bullish start to the day saw Ethereum rally from an early morning low $180.01 to a high $185.30.

Ethereum came within range of the first major resistance level at $185.64 before the pullback.

For the day ahead

Ethereum would need to hold onto $180 levels to support another run at the first major resistance level at $185.67.

Continued support from the broader market would be needed for Ethereum to break back through to $185 levels.

In the event of an extended rally through the day, Ethereum could visit $190 levels before any pullback. We would expect the second major resistance level at $191.01 to limit any upside, however.

Failure to hold onto $180 levels could see Ethereum test the first major support level at $171.75 before any recovery.

Barring a crypto meltdown, Ethereum should steer clear of sub-$170 support levels on the day.

Advertisement

Looking at the Technical Indicators

Major Support Level: $171.75

Major Resistance Level: $185.64

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Stellar’s Lumen

Stellar’s Lumen surged by 7.87% on Monday. Reversing a 0.95% fall from Sunday, Stellar’s Lumen ended the day at $0.06263.

A bullish morning saw Stellar’s Lumen rally from an early intraday low $0.058059 to a late morning intraday high $0.063604.

Steering clear of the major support levels, Stellar’s Lumen broke through the day’s major resistance levels.

A pullback through the afternoon to $0.06260 levels saw Stellar’s Lumen fall through the third major resistance level at $0.06270.

The extended bearish trend remained firmly intact, reaffirmed by 24th 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 by 0.94% to $0.06322. A bullish start to the day saw Stellar’s Lumen rally from an early morning low $0.06217 to a high $0.06413.

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

For the day ahead

Stellar’s Lumen would need to hold onto $0.063 levels to support another run at the first major resistance level at $0.06480.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.064 levels.

Barring an extended crypto rally through the day, the first major resistance level would likely limit any upside.

Failure to hold onto $0.0630 levels could see Stellar’s Lumenslide back to sub-$0.062 levels before any recovery.

Barring a fall through to sub-$0.06150 levels, however, we would expect Stellar’s Lumen to steer well clear of the first major support level at $0.0593.

Looking at the Technical Indicators

Major Support Level: $0.05930

Major Resistance Level: $0.06480

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

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Trade With A Regulated Broker

  • Your capital is at risk