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

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.

ADA/USD 30/12/18 Weekly Chart

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.

EOS/USD 30/12/18 Weekly Chart

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.

XLM/USD 30/12/18 Weekly Chart

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

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