It's a positive start to the day for the pair. Holding on to current levels through the morning would bring resistance levels into play.
Ethereum fell by 1.16% on Tuesday. Following on from a 3.28% slide on Monday, Ethereum ended the day at $175.73.
Another mixed start to the day saw Ethereum rise to an early morning intraday high $178.14 before hitting reverse.
Falling short of the first major resistance level at $183.35, Ethereum slid to a late afternoon intraday low $172.38.
Ethereum fell through the first major support level at $172.96 before rising to $176 levels late in the day.
The move back through to $176 levels was short-lived, however, with Ethereum wrapping up the day at $175 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 up by 0.1% to $175.90. A choppy start to the day saw Ethereum fall to an early morning low $174.91 before striking a high $176.74.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through to $176 levels to support a run at the first major resistance level at $178.45.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $176.74.
Barring a broad-based crypto rebound, the first major resistance level would pin Ethereum back from $180 levels.
Failure to move back through to $176 levels could see Ethereum hit reverse.
A fall back through to $175.40 levels would bring the first major support level at $172.69 into play.
Barring an extended sell-off through the day, however, Ethereum should steer clear of sub-$170 levels.
Major Support Level: $172.69
Major Resistance Level: $178.45
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Stellar’s Lumen fell by 1.56% on Tuesday. Following on from a 6.14% slide on Monday, Stellar’s Lumen ended the day at $0.065858.
A bearish start to the day saw Stellar’s Lumen fall from an early intraday high $0.066902 to an early afternoon intraday low $0.063787.
Steering clear of the major resistance levels, Stellar’s Lumen fell through the first major support level at $0.0640.
Finding support through the afternoon, Stellar’s Lumen moved back through to $0.066 levels before a final hour pullback to close out at $0.065 levels.
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 0.61% to $0.06626.
A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.065834 to a high $0.06626.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to hold onto $0.066 levels would support a run at the first major resistance level at $0.0672.
Stellar’s Lumen would need the support of the broader market, however, to break out from Tuesday’s high $0.066902.
Barring a broad-based crypto rally on the day, Stellar’s Lumen would likely fall short of the second major resistance level at $0.06860.
Failure to hold onto $0.066 levels could see Stellar’s Lumen slide into the red.
A fall through to $0.06550 levels would bring the first major support level at $0.06410 into play.
Barring an extended sell-off through the day, however, Stellar’s Lumen should steer well clear of the second major support level at $0.06240.
Major Support Level: $0.0641
Major Resistance Level: $0.0672
23.6% FIB Retracement Level: $0.1114
38% FIB Retracement Level: $0.1484
62% FIB Retracement Level: $0.2082
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.