Yahoo Finance Ethereum and Stellar’s Lumen Daily Tech Analysis – 20/11/19
Ethereum
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.
For the day ahead
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.
Looking at the Technical Indicators
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
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.
For the day ahead
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.
Looking at the Technical Indicators
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
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire
