Ethereum and Stellar’s Lumen Daily Tech Analysis – 25/11/19

Ethereum

Ethereum fell by 7.9% on Sunday. Reversing a 1.35% gain from Saturday, Ethereum ended the week down by 23.9% to $139.99.

Tracking the broader market, Ethereum fell from an early morning intraday high $153.19 to an early morning low $149.05.

Steering clear of the major support and resistance levels, Ethereum recovered to $151 levels before taking a hit.

In the 2^nd half of the day, Ethereum fell through the first major support level and second major support level at $142.8 to a late intraday low $138.53.

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 1.37% to $138.07. A bearish start to the day saw Ethereum slide from an early morning high $142.50 to a low $136.01.

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

For the day ahead

Ethereum would need to move through to $144 levels to support a run at the first major resistance level at $149.28.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $142.50.

Barring a broad-based crypto rebound, resistance at $140 would likely pin Ethereum back on the day.

Failure to move through to $144 levels could see Ethereum spend another day in the red.

A fall back through the morning low $136.01 would bring the first major support level at $134.62 into play.

Barring another crypto meltdown, Ethereum should steer clear of sub-$130 levels on the day.

Looking at the Technical Indicators

Major Support Level: $134.62

Major Resistance Level: $149.28

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Stellar’s Lumen

Stellar’s Lumen tumbled by 10.13% on Sunday. Reversing a 4.10% rally from Saturday, Stellar’s Lumen ended the week down 22% to $0.055959.

A particularly bearish start to the day saw Stellar’s Lumen slide from an early morning intraday high $0.06227 to an early afternoon low $0.05664.

Falling short of the major resistance levels, Stellar’s Lumen slid through the first major support level at $0.0590.

Stellar’s Lumen found support at the second major support level at $0.0565 before rising to $0.057 levels.

Through the latter part of the day, Stellar’s Lumen hit reverse once more. Stellar’s Lumen fell through the first major support level and second major support level at $0.0565 to an intraday low $0.055552.

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 down by 0.52% to $0.05567. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.056888 to a low $0.05500.

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

For the day ahead

Stellar’s Lumen would need move through to $0.0580 levels to support a run at the first major resistance level at $0.0603.

Support from the broader market would be needed, however, for Stellar’s Lumen to break through to $0.0560 levels

Barring a broad-based crypto rebound, Stellar’s Lumen would likely fall well short of the first major resistance level at $0.0603.

Failure to move through to $0.0580 levels could see Stellar’s Lumen slide deeper into the red.

A fall through the morning low $0.0550 would bring the first major support level at $0.0536 into play.

Barring another crypto sell-off, Stellar’s Lumen should steer clear of sub-$0.0530 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.05360

Major Resistance Level: $0.06030

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