Ethereum and Stellar’s Lumen Daily Tech Analysis – 13/11/19

By November 13, 2019 Ethereum
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Ethereum rose by 1.26% on Tuesday. Partially reversing a 2.24% fall from Monday, Ethereum ended the day at $186.98.

A bullish start to the day saw Ethereum rise to a mid-day intraday high $187.27 before hitting reverse.

Falling short of the first major resistance level at $188.51 Ethereum slid to a mid-afternoon intraday low $182.07.

Ethereum fell through the first major support level at $182.28 before finding support from the broader market.

In the latter part of the day, Ethereum bounced back to close out the day in positive territory.

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 1.36% to $185.62. A bearish start to the day saw Ethereum fall from an early morning high $187.1 to a low $185.31.

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

For the day ahead

A move through the morning high $187.1 would support a run at the first major resistance level at $188.81.

Ethereum would need the support of the broader market, however, to break out from Tuesday’s high $187.27.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $180.27 should limit any upside.

Failure to move through to $187 levels could see Ethereum fall deeper into the red. A fall back to $184 levels would bring the first major support level at $183.61 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $180.24.

Looking at the Technical Indicators

Major Support Level: $183.61

Major Resistance Level: $188.81

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 8.8% on Tuesday. Reversing a 1.13% gain from Monday, Stellar’s Lumen ended the day at $0.077159.

A bullish start to the day saw Stellar’s Lumen rally to an early morning intraday high $0.082913 before hitting reverse.

Stellar’s Lumen broke through the first major resistance level at $0.0821 before sliding to a mid-afternoon intraday low $0.07450.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.0770 before finding support.

Steering clear of the second major support level at $0.0740, Stellar’s Lumen broke back through the first major support level late in 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 0.21% to $0.076999.

A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.077522 to a low $0.076395.

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

A bullish start to the day saw Ethereum rise to a […]

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