In This Article:
Ethereum
Ethereum fell by 1.31% on Monday. Following on from a 0.42% decline on Sunday, Ethereum ended the day at $148.97.
Another bearish start to the day saw Ethereum slide from an early morning intraday high $151.65 to a mid-morning intraday low $146.82.
Steering clear of the major resistance levels, Ethereum fell through the first major support level at $147.07.
Finding support in the late morning, Ethereum briefly recovered to $150 levels before sliding back through the first major support level.
Off the back of a late afternoon low $146.91, Ethereum recovered to $149 levels before wrapping up the day at $148 levels.
Whilst closing out the day in the red, a move back through the first major support level was key.
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 0.01% to $148.96. A mixed start to the day saw Ethereum rise to an early morning high $150.0 before falling to a low $148.7.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $149.2 levels to support a run at the first major resistance level at $151.47.
Support from the broader market would be needed, however, for Ethereum to break out from $150 levels.
Barring a broad-based crypto rally on the day, the first major resistance level and Monday high $151.65 would likely limit any upside.
Failure to move through to $149.20 levels could see Ethereum spend a 4th consecutive day in the red.
A fall through to $148.5 levels would bring the first major support level at $146.64 into play before any recovery.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$145 levels on the day.
Looking at the Technical Indicators
Major Support Level: $146.64
Major Resistance Level: $151.47
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Stellar’s Lumen
Stellar’s Lumen slid by 2.64% on Monday. Reversing a 0.84% gain from Sunday, Stellar’s Lumen ended the day at $0.056228.
Tracking the broader market, Stellar’s Lumen slid from an early morning intraday high $0.05775 to a late morning low $0.056067.
Steering clear of the major resistance levels, Stellar’s Lumen fell through the first major support level at $0.0564.
Finding support in the late morning, Stellar’s Lumen recovered to $0.0572 levels before hitting reverse for a 2nd time.