Altcoins Weekly Analysis – EOS, ETH and XLM – 28/04/19

The crypto bears took a bite out of the market last week. Moves through key levels early in the week would support a partial recovery in the week ahead.
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

EOS

EOS slid by 8.05% in the week ending 27th April. Reversing a 2.39% gain from the previous week, EOS ended the week at $4.8394.

A bearish start to the week saw EOS slide from a Sunday intraweek high $5.4892 to a Thursday intraweek low $4.53.

The reversal saw EOS slide through the first major support level at $5.2383 and second major support level at $5.0065. Heavier losses avoided, with support coming at the third major support level at $4.5638.

The start of the week high fell well short of the week’s first major resistance level at $5.6810.

A 5.8% rally on Friday back through to $4.80 levels limited the downside for the week.

For the bears, EOS saw red on 5 of the 7 days. EOS saw its heaviest loss of 6.29% on Wednesday. More significantly, it’s been downhill since 10th April’s current year high of $6.0726…

For the week ahead,

A move through $4.95 levels would bring $5.00 levels back into play on the week. Support from the broader market would be needed, however, for EOS to breakout from $5.00 levels. A move through to $5.20 would bring the first major resistance level at $5.3757 into play before any pullback.

Barring a broad-based crypto rally, EOS would likely come up short of $6.00 levels. The second major resistance level at $5.9121 would cap the upside in the week.

Failure move through to $4.95 levels could see EOS slide back through last week’s low $4.53.  A pullback through to $4.50 would bring the first major support level at $4.4165 into play before any recovery.

Barring a crypto meltdown, EOS would likely steer well clear of sub-$4.00 support levels on the week.

At the time of writing, EOS was up by 0.35% to $4.8561.

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Ethereum

Ethereum tumbled by 10.41% in the week ending 27th April. Reversing a 6.09% gain from the previous week, Ethereum ended the week at $155.66.

A relatively choppy start to the week saw Ethereum recover from a Sunday low $166.33 to a Tuesday intraweek high $176.94.

Falling short of the first major resistance level at $173, Ethereum slid to Thursday intraweek low $146.00. 3 consecutive days in the red that included an 8.3% sell-off on Thursday did the damage.

The reversal saw Ethereum fall through the first major support level at $160.54 and second major support level at $147.35.

A partial recovery on Friday and Saturday through to $155 levels reduced the deficit for the week.

For the week ahead,

A move through to $159.50 levels would support a partial recovery of last week’s losses. Support from the broader market would be needed, however, for Ethereum to take a run at $170 levels.

Barring a broad-based crypto rally, Ethereum would likely struggle to break out from $165 levels in the event of a move through to $160 levels. In the event of a broad-based crypto rebound, the first major resistance level at $173 would likely cap the upside on the week.

Failure to move through to $159.50 levels could see Ethereum take another weekly hit. A pullback through to sub-$150 levels could see Ethereum slide through the morning low $146 before any recovery.

Barring a broad-based crypto sell-off, however, Ethereum would likely hold above the week’s first major support level at $142.16.

At the time of writing, Ethereum was up 0.23% to $156.02.

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Stellar’s Lumen

Stellar’s Lumen slumped by 11.49% in the week ending 27th April. Following on from a 1.19% fall from the previous week, Stellar’s Lumen ended the week at $0.1021.

A bearish start to the week saw Stellar’s Lumen fall from an intraweek high $0.11586 to a Sunday low $0.10935 before recovering to $0.11 levels.

The partial recovery to $0.11 levels left Stellar’s Lumen well short of the first major resistance level at $0.1203. Succumbing to market forces, Stellar’s Lumen tumbled to a Thursday intraweek low $0.09509 before finding support.

The reversal saw Stellar’s Lumen fall through the first major support level at $0.1105 and second major support level at $0.1057. The third major support level at $0.09590 limited the downside on the week.

2 consecutive days in the green at the end of the week reduced the deficit for the week.

For the week ahead,

A move through to $0.1045 levels would be needed to support a partial recovery of last week’s losses.

Having tracked the market through the last week, support from the broader market would be needed for Stellar’s Lumen to breakout from $0.1045 levels.

A broad-based crypto rebound would bring $0.11 levels and the first major resistance level at $0.1136 into play. Stellar’s Lumen would likely fall short of a return to $0.12 levels, however. Last week’s high $0.11586 would likely cap the upside on the week.

Failure to move through to $0.1045 levels could see Stellar’s Lumen take another hit in the week ahead.

A fall through to sub-$0.10 levels would bring the first major support level at $0.0928 into play before any recovery.

Barring another crypto meltdown, however, Stellar’s Lumen would likely steer clear of sub-$0.090 support levels.

At the time of writing, Stellar’s Lumen was up by 0.83% to $0.10384.

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