Yahoo Finance Ethereum and Stellar’s Lumen Daily Tech Analysis – 26/11/19
Ethereum
Ethereum rallied by 4.15% on Monday. Partially reversing a fell by 7.9% on Sunday, Ethereum ended the day at $145.91.
Tracking the broader market, Ethereum tumbled to an early morning intraday low $131.8 before finding support.
Ethereum fell through the first major support level at $134.62 before rallying to a late afternoon intraday high $151.69.
Moving back through the first major support level, Ethereum broke through the first major resistance level at $149.28.
A return to $151 levels was short-lived, however, with Ethereum sliding back to $145 levels to limit the upside on the day.
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 0.83% to $147.12. A bearish start to the day saw Ethereum fall to an early morning low $144.32 before striking a high $148.41.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would move through Monday’s high $151.69 to support a run at the first major resistance level at $154.47.
Support from the broader market would be needed, however, for Ethereum to break through to $150 levels.
Barring a broad-based crypto rally on the day, the morning high $148.41 would likely pin Ethereum back.
Failure to move back through Monday’s high $151.69 could leave Ethereum under pressure.
A fall through to $143.10 levels would bring sub-$140 levels back into play before any recovery.
Barring a crypto meltdown, however, Ethereum should steer clear of the first major support level at $134.58.
Looking at the Technical Indicators
Major Support Level: $134.58
Major Resistance Level: $154.47
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Stellar’s Lumen
Stellar’s Lumen rose by 3.22% on Monday. Partially reversing a 10.13% tumble on Sunday, Stellar’s Lumen ended the day at $0.057874.
Bearish through the morning, Stellar’s Lumen slid to an early morning intraday low $0.053843.
Steering clear of the first major support level at $0.05360, Stellar’s Lumen bounced back to an early afternoon intraday high $0.059781.
In spite of the breakout, Stellar’s Lumen came up short of the first major resistance level at $0.0603.
Through the latter part of the day, Stellar’s Lumen fell back to $0.057 levels to limit the upside on the day.
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 down by 1.05% to $0.057266. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.057762 before hitting reverse.
Falling short of the major resistance levels, Stellar’s Lumen fell to a morning low $0.057170 before finding support.
Stellar’s Lumen also left the major support levels untested early on.
For the day ahead
Stellar’s Lumen would need to hold onto $0.0572 levels through the morning to support a recovery later in the day.
A move back through the morning high $0.05776 to $0.059 levels would be needed for Stellar’s Lumen to take a run at the first major resistance level at $0.06050.
Barring a broad-based rally, however, resistance at $0.058 levels would likely limit any upside on the day.
Failure to move back through the morning high to $0.059 levels would likely leave Stellar’s Lumen in the red.
A fall back through to $0.056 levels would bring the first major support level at $0.0546 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of Monday’s low $0.053843.
Looking at the Technical Indicators
Major Support Level: $0.05460
Major Resistance Level: $0.06050
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
This article was originally posted on FX Empire
