Ethereum
Ethereum fell by 0.01% on Wednesday. Following a 1.76% gain on Tuesday, Ethereum ended the month down by 17.05% to $359.89.
It was another choppy day on Wednesday. Ethereum rose to an early morning high $360.1 before hitting reverse.
Falling short of the first major resistance level at $363.60, Ethereum slid to a midday intraday low $351.38.
Ethereum fell through the first major support level at $353.20 before bouncing back to a final hour intraday high $361.51.
Coming up short of the major resistance levels once more, Ethereum slipped back to sub-$360 levels and into the red.
At the time of writing, Ethereum was up by 0.01% to $359.91. A bullish start to the day saw Ethereum rise to an early morning high $361.42 before falling to a low $359.91
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $357.59 pivot to support a run at the first major resistance level at $363.81.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $361.51.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $357.59 pivot would bring the first major support level at $353.68 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $347.46.
Looking at the Technical Indicators
First Major Support Level: $353.68
Pivot Level: $357.59
First Major Resistance Level: $363.81
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin rose by 1.29% on Wednesday. Following on from a 1.08% gain on Tuesday, Litecoin ended the month down by 24.08% to $46.26.
It was also a mixed start to the day. Litecoin slipped to an early morning intraday low $45.43 before making a move.
Steering clear of the first major support level at $45.15, Litecoin rallied to a late afternoon intraday high $46.69.
Litecoin broke through the first major resistance level at $46.02 and the second major resistance level at $46.36.
A late pullback saw Litecoin fall back through the resistance levels to sub-$46 before a late rally.
The late rally saw Litecoin break back through the first major resistance level to end the day at $46.2 levels. Late in the day, the second major resistance level pinned Litecoin back.
At the time of writing, Litecoin was up by 0.15% to $46.33. A bullish start to the day saw Litecoin rise from an early morning low $46.27 to a high $46.46.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $46.13 pivot to support a run at the first major resistance level at $46.82.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $46.69.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, the second major resistance level at $47.39 could come into play.
Failure to avoid a fall through the $46.13 pivot level would bring the first major support level at $45.56 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$44 levels. The second major support level at $44.87 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $45.56
Pivot Level: $46.13
First Major Resistance Level: $46.82
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP fell by 0.28% on Wednesday. Partially reversing a 0.83% gain from Tuesday, Ripple’s XRP ended the month down by 14.06% to $0.24184.
It was a bearish start to the day. Ripple’s XRP fell from an early morning intraday high $0.24253 to a midday intraday low $0.23786.
Ripple’s XRP fell through the first major support level at $0.2385 before striking a final hour high $0.24236.
Failing to move back into positive territory, Ripple’s XRP fell back to wrap up the day at sub-$0.242 levels.
At the time of writing, Ripple’s XRP was up by 0.08% to $0.24204. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.24190 before rising to a high $0.24247.
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 $0.2407 pivot to support a run at the first major resistance level at $0.2436.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.24253.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $0.2407 pivot would bring the first major support level at $0.2390 into play.
Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2350 levels. The second major support level at $0.2361 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.2390
Pivot Level: $0.2407
First Major Resistance Level: $0.2436
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