Altcoins Weekly Analysis – Cardano’s ADA, EOS and Stellar’s Lumen – 30/12/18

A choppy week left the majors in the red, with the crypto bears still in control in spite of solid gains the previous week, upside seemingly capped for now, with another choppy week in store.
altcoins

Cardano’s ADA

Cardano’s ADA fell by 1.7% Sunday through Saturday, following the previous week’s 51.18% rally, to end the week at $0.04268.

A bullish start to the week saw Cardano’s ADA rally to a Monday intraweek high $0.051468, breaking through the week’s first major resistance level at $0.05120 before hitting reverse.

The reversal saw Cardano’s ADA fall through to a Friday intraweek low $0.036815, steering clear of the week’s first major support level at $0.0321 to bounce back to $0.04 levels on the day, with Cardano’s ADA unable to break back through to $0.05 levels by the end of the week

For the week ahead, a move back through to $0.044 levels in the early part of the week would support another run at $0.05 levels and the week’s first major resistance level at $0.05, with sentiment across the broader market needing to improve to support a run at the second major resistance level at $0.0583.

Failure to move through to $0.044 levels could set up a bearish week for Cardano’s ADA, with a pullback through last week’s $0.03682 low likely to bring the week’s first major support level at $0.0358 into play before any recovery, sub-$0.03 support levels unlikely to be tested, barring a material crypto market sell-off.

At the time of writing, Cardano’s ADA was up 0.3% to $0.04281.

EOS

EOS slipped by just 0.2% in the week ending 29th December, following the previous week’s 40.35% gain, to end the week at $2.6946.

Tracking the broader market, EOS moved through to a intraweek high $3.2081, breaking through the week’s first major resistance level at $3.10 before easing back, EOS coming up short of the week’s second major resistance level at $3.49.

A mid-week pullback saw EOS fall to a week low $2.3093, EOS managing to hold above the week’s first major support level at $2.11 to move back through to $2.6 levels by the end of the week, EOS unable to recover the $3.00 handle.

For the week ahead, a move through to $2.75 levels would support another run at $3.00 levels to bring the week’s first major resistance level at $3.17 into play, with any broad based crypto rally supporting a run at the second major resistance level at $3.64 before any pullback, $4.00 levels unlikely to be hit in the week.

Failure to move through to $2.75 levels through the early part of the week could see EOS pullback through last week’s $2.3093 low to bring the first major support level at $2.27 into play before any recovery, sub-$2.00 support levels unlikely to be in play barring a crypto meltdown.

At the time of writing, EOS was down 1.39% at $2.6571.

Stellar’s Lumen

Stellar’s Lumen fell by 4.6% in the week ending 29th December, partially reversing the previous week’s 28.6% rally, to end the week at $0.1202.

Tracking the broader market, Stellar’s Lumen rallied through to a Monday intraweek high $0.14762, breaking through the week’s first major resistance level at $0.1363 and 23.6% FIB Retracement Level of $0.1434 before hitting reverse, Stellar’s Lumen coming within range of the week’s second major resistance level at $0.1483.

The broad based cryptomarket reversal mid-week led to a pullback to an intraweek low $0.11074, Stellar’s Lumen steering clear of the week’s first major support level at $0.1045 before moving back through to $0.12 levels by the week’s end, the bearish sentiment at the end of the week pinning Stellar’s Lumen back from $0.13 levels.

For the week ahead, a move back through to $0.126 levels would support a return to $0.13 levels to bring the week’s first major resistance level at $0.1416 into play, with last week’s high $0.14762 likely to pin Stellar’s Lumen back from a break through to $0.15 levels in the week.

Failure to move through to $0.126 levels could see Stellar’s Lumen struggle through the week, with a fall through last week’s low $0.11074 bringing the week’s first major support level at $0.1048 into play before any recovery, heavier losses not expected in the week, barring materially negative news hitting the crypto wires.

At the time of writing, Stellar’s Lumen was down 0.47% to $0.11964.

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