Ethereum
Ethereum rallied by 3.30% on Monday. Following on from a 0.98% gain on Sunday, Ethereum ended the day at $386.74.
It was a mixed start to the day. Ethereum fell to a late morning intraday low $365.77 before making a move.
Falling through the first major support level at $369.77 and the 38.2% FIB of $367, Ethereum found support at the second major support level at $365.16.
Rebounding through the afternoon, Ethereum rallied to a late intraday high $395.18.
Ethereum broke through the day’s major resistance levels before a late pullback to sub-$390 levels. The late pullback saw Ethereum fall back through the third major resistance level at $390.57.
At the time of writing, Ethereum was down by 0.16% to $386.11. A mixed start to the day saw Ethereum rise to an early morning high $387.88 before falling to a low $385.85.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $382.56 pivot to support a run at the first major resistance level at $399.36.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $395.18.
Barring another extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, Ethereum could test the second major resistance level at $411.97.
Failure to avoid a fall through the $382.56 pivot would bring the first major support level at $369.95 into play.
Barring another extended sell-off, however, Ethereum should avoid the second major support level at $353.15. The 38.2% FIB of $367 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $369.95
Pivot Level: $382.56
First Major Resistance Level: $399.36
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin rose by 0.28% on Monday. Following a 3.32% rally on Sunday, Litecoin ended the day at $50.61.
Tracking the broader market, Litecoin fell to a late morning intraday low $49.29 before making a move.
Steering clear of the first major support level at $49.04, Litecoin rallied to a late intraday high $51.55.
Coming up against the first major resistance level at $51.58, Litecoin fell back to end the day at sub-$51 levels.
At the time of writing, Litecoin was down by 0.91% to $50.15. A mixed start to the day saw Litecoin rise to an early morning high $50.72 before sliding to a low $50.09.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $50.48 pivot to support a run at the first major resistance level at $51.68.
Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $51.55.
Barring an extended crypto rally, Monday’s high and the first major resistance level would likely cap any upside.
In the event of another breakout, Litecoin would likely test the second major resistance level at $52.74.
Failure to move back through the $50.48 pivot level would bring the first major support level at $49.42 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $48.22.
Looking at the Technical Indicators
First Major Support Level: $49.42
Pivot Level: $50.48
First Major Resistance Level: $51.68
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP rose by 0.30% on Monday. Partially reversing a 0.54% gain from Sunday, Ripple’s XRP ended the day at $0.25622.
A bearish start to the day saw Ripple’s XRP slide to a late morning intraday low $0.24900 before making a move.
Ripple’s XRP fell through the first major support level at $0.2532 and the second major support level at $0.2510.
The visit to sub-$0.25 levels was brief, however. Ripple’s XRP rallied to a late intraday high $0.25843 before easing back.
Ripple’s XRP came up against the first major resistance level at $0.2581 before easing back to sub-$0.0255 levels.
Finding late support, however, Ripple’s XRP moved back through to $0.256 levels to deliver the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.29% to $0.25548. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25615 to a low $0.25528.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.2546 pivot to support a run at the first major resistance level at $0.2601.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.25843.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, the second major resistance level at $0.2640 would likely come into play.
Failure to avoid a fall through the $0.2546 pivot would bring the first major support level at $0.2507 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level at $0.2451 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.2507
Pivot Level: $0.2546
First Major Resistance Level: $0.2601
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
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Thanks, Bob
This article was originally posted on FX Empire