Ethereum
Ethereum rose by 3.16% on Monday. Following on from a 6.46% gain from last week, Ethereum ended the day at $186.85.
A bullish start to the day saw Ethereum rise from an early morning intraday low $180.52 to a mid-morning high $184.24.
Steering clear of the major support levels, Ethereum came within range of the first major resistance level at $184.41 before easing back.
The pullback saw Ethereum fall back to an afternoon low $180.9 before rallying to a late afternoon intraday high $187.91.
Ethereum broke through the first major resistance level at $184.41 and second major resistance level at $187.64.
Easing back late in the day, Ethereum slipped to $185 levels before finding support late on to wrap up the day at $186 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 down by 0.45% to $186.01. A mixed start to the day saw Ethereum strike an early morning high $188.58 before sliding to a low $185.92.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $187 levels to support another run at the first major resistance level at $189.67.
Support from the broader market would be needed, however, for Ethereum to break out from this morning’s high $188.58.
Barring a broad-based crypto rebound, Ethereum would likely continue to fall short of $190 levels on the day.
Failure to move back through to $187 levels could see Ethereum fall deeper into the red. A fall through the morning low $185.92 to sub-$185 levels would bring the first major support level at $182.28 into play.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$180 support levels on the day.
Looking at the Technical Indicators
Major Support Level: $182.28
Major Resistance Level: $189.67
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Stellar’s Lumen
Stellar’s Lumen rallied by 8.4% on Monday. Following on from a 5.74% gain from last week, Stellar’s Lumen ended the day at $0.06665.
Bullish throughout the day, Stellar’s Lumen rallied from an early morning intraday low $0.06117 to a late intraday high $0.06665.
Steering clear of the major support levels, Stellar’s Lumen broke through the day’s major resistance levels.
A particularly bullish end to the day saw Stellar’s Lumen break through the third major resistance level at $0.0650.
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 0.77% to $0.066134. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.06543 before striking a high $0.066878.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to break through to $0.067 levels to support a run at the first major resistance level at $0.06850.
Support from the broader market would be needed, however, for Stellar’s Lumen to move back through the morning high $0.066878.
Barring a broad-based crypto rebound, resistance at $0.067 would likely continue to limit any upside on the day.
Failure to move through to $0.0670 levels could see Stellar’s Lumen fall deeper into the red. A fall through to sub-$0.0650 levels would bring the first major support level at $0.0630 into play.
Barring an extended sell-off through the day, however, we would expect Stellar’s Lumen to continue to steer clear of sub-$0.060 levels.
Looking at the Technical Indicators
Major Support Level: $0.06300
Major Resistance Level: $0.06850
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
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