Ethereum and Stellar’s Lumen Daily Tech Analysis – 14/11/19

By November 14, 2019 Ethereum
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Ethereum rose by 0.4% on Wednesday. Following on from a 1.26% gain from Tuesday, Ethereum ended the day at $187.72.

A choppy start to the day saw Ethereum fall to an early morning intraday low $185.08 before finding support.

Steering clear of the first major support level at $183.61, Ethereum rallied to a late afternoon intraday high $189.31. Ethereum broke through the first major resistance level at $188.81 before easing back to $186 levels.

A late move back through to $187 levels delivered 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 down by 0.28% to $187.19. A mixed start to the day saw Ethereum rise to an early morning high $188.45 before falling to a low $186.65.

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

For the day ahead

A move through to $187.40 levels would support a run at the first major resistance level at $189.66.

Ethereum would need the support of the broader market, however, to break out from the morning high $188.45.

Barring a broad-based crypto rebound, Ethereum would likely come up short of $190 levels for a 3rd consecutive day.

Failure to move through to $187.40 levels could see Ethereum slide deeper into the red.

A fall back through the morning low $186.65 would bring the first major support level at $185.43 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $183.14.

Looking at the Technical Indicators

Major Support Level: $185.43

Major Resistance Level: $189.66

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 1.65% on Wednesday. Following on from an 8.8% tumble on Tuesday, Stellar’s Lumen ended the day at $0.075508.

A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.076395 before finding support.

Steering clear of the first major support level at $0.0735, Stellar’s Lumen rallied to a late morning intraday high $0.077976.

In spite of the rebound, Stellar’s Lumen fell short of the first major resistance level at $0.0782 before hitting reverse.

Bearish through the 2nd half of the day, Stellar’s Lumen slid to a late intraday low $0.075235 before steadying.

In spite of the sell-off, Stellar’s Lumen steered clear of the first major support level at $0.07350.

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 0.21% to $0.07567. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.076222 before falling to a low $0.075389.

Steering clear of the major support levels early on, Stellar’s Lumen moved back into positive territory.

A choppy start to the day saw Ethereum fall to […]

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