Ethereum
Ethereum rallied by 2.86% on Wednesday. Following on from a 1.36% gain on Tuesday, Ethereum ended the day at $463.79.
It was a mixed start to the day. Ethereum fell to an early morning intraday low $449.95 before making a move.
Steering clear of the first major support level at $441.66, Ethereum rallied to a late afternoon intraday high $476.80.
Ethereum broke through the first major resistance level at $457.81 and the second major resistance level at $464.74.
A late pullback, however, saw Ethereum fall back through the second major resistance level to wrap up the day at $463 levels.
At the time of writing, Ethereum was down by 0.47% to $461.59. A mixed start to the day saw Ethereum rise to an early morning high $464.82 before falling to a low $460.03.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through the pivot level at $463.51 to support a run at the first major resistance level at $477.08.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $476.80.
Barring another extended crypto rally, the first major resistance level and resistance at $480 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $490 before any pullback. The second major resistance level sits at $490.36.
Failure to move back through the $463.51 pivot would bring the first major support level at $450.23 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$450 levels. The second major support level sits at $436.66.
Looking at the Technical Indicators
First Major Support Level: $450.23
Pivot Level: $463.51
First Major Resistance Level: $477.08
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin rose by 2.33% on Wednesday. Reversing a 2.23% fall from Tuesday, Litecoin ended the day at $59.34.
It was also a mixed start to the day. Litecoin fell to an early morning intraday low $57.87 before making a move.
Steering clear of the first major support level at $56.85, Litecoin rallied to an early morning high $60.27.
Litecoin broke through the first major resistance level at $59.36 before falling back to sub-$59 levels.
Finding support in the late afternoon, however, Litecoin struck a late afternoon intraday high $60.63.
Litecoin broke back through the first major resistance level to wrap up the day at $59.3 levels.
At the time of writing, Litecoin was down by 1.03% to $58.73. A bearish start to the day saw Litecoin fall from an early morning high $59.40 to a low $58.47.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $59.28 pivot to support a run at the first major resistance level at $60.69.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $60.63.
Barring an extended crypto rally, the first major resistance level and resistance at $61 would likely cap any upside.
In the event of an extended breakout, Litecoin would likely test resistance at $63 before any pullback. The second major resistance level sits at $62.04.
Failure to move back through the $59.28 pivot level would bring the first major support level at $57.93 into play.
Barring an extended sell-off on the day, however, Litecoin should steer well clear of the 23.6% FIB of $54.00. The second major support level at $56.52 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $57.93
Pivot Level: $59.28
First Major Resistance Level: $60.69
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 0.71% on Wednesday. Following on from a 1.41% gain on Tuesday, Ripple’s XRP ended the day at $0.25612.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.25274 before making a move.
Steering clear of the first major support level at $0.2467, Ripple’s XRP rallied to an early afternoon intraday high $0.2600.
Falling short of the first major resistance level at $0.2631, Ripple’s XRP fell back to $0.255 levels before finding support.
A late move back through to $0.256 levels delivered the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.38% to $0.25514. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25613 to a low $0.25514.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through the $0.2563 pivot level to support a run at the first major resistance level at $0.2598.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2590 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.2600 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2635.
Failure to move through the $0.2563 pivot would bring the first major support level at $0.2526 into play.
Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2450 levels. The second major support level at $0.2490 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.2426
Pivot Level: $0.2563
First Major Resistance Level: $0.2598
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