Ethereum

Ethereum tumbled by 5.12% on Wednesday. Following on from a 1.75% decline on Tuesday, Ethereum ended the day at $162.49.

A bearish start to the day saw Ethereum fall from an early morning high $171.48 to an early morning low $164.10.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $169.38 and second major support level at $167.46.

Finding support late in the morning, Ethereum recovered to $167.6 levels before sliding to a late afternoon intraday low $153.0.

The broad-based mid-day crypto sell-off saw Ethereum slide back through the second major support level at $167.46 and third major support level at $162.53.

Through the late part of the day, a late jump to an intraday high $174.05 was short-lived, with Ethereum sliding back through the major support levels to wrap up the day at $162 levels.

The extended bearish trend, formed at late April 2018s swing hi $828.97, remained firmly intact. A reversal from Junes 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 0.76% to $161.26. A bearish start to the day saw Ethereum fall from an early morning high $162.88 to a low $159.01 before finding support.

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

Ethereum would need to move back through to $162.40 levels to support a run at the first major resistance level at $171.65.

Support from the broader market would be needed, however, for Ethereum to break through to $170 levels.

Barring a broad-based crypto rebound, Ethereum would likely face plenty of resistance at $170 to limit any upside.

Failure to move back through to $162.40 levels could see Ethereum slide deeper into the red.

A fall back through the morning low $159.01 would bring the first major support level at $153.17 into play.

Barring an extended sell-off through the day, Ethereum should steer clear of sub-$150 support levels.

Major Support Level: $153.17

Major Resistance Level: $171.65

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Stellars Lumen slid by 5.77% on Wednesday. Reversing a 1.43% decline on Tuesday, with interest, Stellars Lumen ended the day at $0.059699.

A bullish start to the day saw Stellars Lumen rise to an early morning intraday high $0.06352 before hitting reverse.

Falling short of the major resistance levels, Stellars Lumen fell back to a mid-morning low $0.06153.

Stellars Lumen fell through the first major support level at $0.0625 before recovering to $0.06280 levels.

The recovery was short-lived, however, with Stellars Lumen tumbling to a late afternoon intraday low $0.057155.

Stellars Lumen fell through the major support levels before finding support to move back through to $0.0597 levels.

In spite of the late support, the third major support level at $0.05960 pegged Stellars Lumen back at the end of the day.

The extended bearish trend remained firmly intact, reaffirmed by 24th Septembers new swing lo $0.051614. Stellars 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, Stellars Lumen was down by 0.7% to $0.05928. A bearish start to the day saw Stellars Lumen fall from an early morning high $0.05983 to a low $0.0590.

Story continues

Stellars Lumen left the major support and resistance levels untested early on.

Stellars Lumen would need to break through to $0.0600 levels to support a run at the first major resistance level at $0.0631.

Support from the broader market would be needed, however, for Stellars Lumen to break through to $0.06100 levels.

In the event of a broad-based crypto rebound, the first major resistance level at $0.0631 and Wednesday high $0.06352 would likely limit any upside.

Failure to move through to $0.0600 levels could see Stellars Lumen slide deeper into the red.

A fall back through the morning low $0.05900 would bring the first major support level at $0.0567 into play.

Barring a crypto meltdown, however, Stellars Lumen should steer clear of sub-$0.05600 levels.

Major Support Level: $0.0567

Major Resistance Level: $0.0631

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

Read more here:

Ethereum and Stellars Lumen Daily Tech Analysis 24/10/19 - Yahoo Finance