Ethereum
Ethereum rose by 2.79% on Thursday. Following on from a 0.26% gain on Wednesday, Ethereum ended the day at $351.25.
A bearish start to the day saw Ethereum slide to a late morning intraday low $334.29 before making a move.
Ethereum fell through the first major support level at $335.42 before rallying to a late intraday high $353.34.
The rally saw Ethereum break through the first major resistance level at $345.38 and the second major resistance level at $349.09.
A late pullback saw Ethereum briefly dip to sub-$350 before wrapping up the day at $351 levels. The second major resistance level delivered support late in the day.
At the time of writing, Ethereum was down by 0.08% to $350.97. A mixed start to the day saw Ethereum fall to an early morning low $350.41 before rising to a high $351.47.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $346.29 pivot to support a run at the first major resistance level at $358.30.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $353.34.
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 $365.34 would likely come into play.
Failure to avoid a fall through the $346.29 pivot would bring the first major support level at $339.25 into play.
Barring another extended sell-off, however, Ethereum should continue to avoid sub-$330 levels. The second major support level sits at $327.24.
Looking at the Technical Indicators
First Major Support Level: $339.25
Pivot Level: $346.29
First Major Resistance Level: $358.30
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin rose by 1.50% on Thursday. Following on from a 1.22% gain on Wednesday, Litecoin ended the day at $47.26.
Tracking the broader market, Litecoin slid to a late morning intraday low $45.50 before making a move.
Steering clear of the first major support level at $45.43, Litecoin rallied to a late afternoon intraday high $47.49.
Litecoin broke through the first major resistance level at $47.32 before falling back to sub-$47 levels.
Finding late support, however, Litecoin moved back to $47 levels to deliver the upside for the day. The first major resistance level pinned Litecoin back late in the day.
At the time of writing, Litecoin was down by 0.19% to $47.17. A mixed start to the day saw Litecoin rise to an early morning high $47.27 before falling to a low $47.13.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $46.75 pivot to support a run at the first major resistance level at $48.00.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $47.49.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Litecoin could test the second major resistance level at $48.74.
Failure to avoid a fall through the $46.75 pivot level would bring the first major support level at $46.01 into play.
Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$45 levels. The second major support level sits at $44.76.
Looking at the Technical Indicators
First Major Support Level: $46.01
Pivot Level: $46.75
First Major Resistance Level: $48.00
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 1.01% on Thursday. Following a 1.31% gain on Wednesday, Ripple’s XRP ended the day at $0.25145.
It was also a bearish start to the day. Ripple’s XRP fell to a late morning intraday low $0.24225 before making a move.
Finding support at the first major support level at $0.2428, Ripple’s XRP rose to a late intraday high $0.25300.
Coming up against the first major resistance level at $0.2530, Ripple’s XRP eased back to end the day at sub-$0.2514 levels.
At the time of writing, Ripple’s XRP was up by 0.11% to $0.25173. A relatively bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25142 to a high $0.25192.
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 $0.2489 pivot to support a run at the first major resistance level at $0.2556.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.25300.
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 $0.2597 would likely come into play. Resistance at $0.26 would likely pin Ripple’s XRP back, however.
Failure to avoid a fall through the $0.2489 pivot would bring the first major support level at $0.2448 into play.
Barring another extended crypto sell-off, Ripple’s XRP should continue to steer clear of sub-$0.24 levels. The second major support level sits at $0.2382.
Looking at the Technical Indicators
First Major Support Level: $0.2448
Pivot Level: $0.2489
First Major Resistance Level: $0.2556
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