Ethereum
Ethereum fell by 0.79% on Wednesday. Partially reversing a 4.73% rally from Tuesday, Ethereum ended the day at $478.96.
It was a bullish start to the day. Ethereum rallied to an early morning intraday high $495.68 before hitting reverse.
Ethereum broke through the first major resistance level at $491.77 before sliding to a mid-morning intraday low $456.5.
The sell-off saw Ethereum fall through the first major support level at $466.82 to sub-$460 before finding support.
Ethereum briefly revisited $482 levels before sliding back into the red. Late support limited the downside on the day, however.
At the time of writing, Ethereum was down by 0.51% to $476.53. A mixed start to the day saw Ethereum rise to an early morning high $480.88 before falling to a low $474.27.
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 $477.05 to support a run at the first major resistance level at $497.59.
Support from the broader market would be needed, however, for Ethereum to break back through to $490 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $495.68 would likely cap any upside.
In the event of another breakout, Ethereum could test resistance at $510 before any pullback. The second major resistance level sits at $516.23.
Failure to move back through the $477.05 pivot would bring the first major support level at $458.41 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$450 levels. The second major support level sits at $437.87.
Looking at the Technical Indicators
First Major Support Level: $458.41
Pivot Level: $477.05
First Major Resistance Level: $497.59
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin slid by 3.78% on Wednesday. Reversing a 3.51% rally from Tuesday, Litecoin ended the day at $73.48.
It was a bearish start to the day. Litecoin slid from an early morning intraday high $77.17 to a mid-morning intraday low $68.34.
The sell-off saw Litecoin fall through the first major support level at $72.91 and the second major support level at $69.42. More significantly, Litecoin also fell through the 38.2% FIB of $71.00.
Finding late support, however, Litecoin briefly revisited $74 levels before wrapping up the day at $73 levels.
The late recovery saw Litecoin break back through the support levels and the 38.2% FIB.
At the time of writing, Litecoin was up by 0.38% to $73.76. A mixed start to the day saw Litecoin fall to an early morning low $72.87 before rising to a high $73.99.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall back through the $73.00 pivot to support a run at the first major resistance level at $77.66.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $77.18.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another extended breakout, Litecoin would likely test resistance at $80 before any pullback. The second major resistance level sits at $81.84.
Failure to avoid a fall through the $73.00 pivot level would bring the 38.2% FIB of $71and the first major support level at $68.82 into play.
Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$68. The second major support level sits at $64.16.
Looking at the Technical Indicators
First Major Support Level: $68.82
Pivot Level: $73.00
First Major Resistance Level: $77.66
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP slid by 3.01% on Wednesday. Partially reversing a 5.08% gain from Tuesday, Ripple’s XRP ended the day at $0.29366.
It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.30820 before hitting reverse.
Falling short of the first major resistance level at $0.3096, Ripple’s XRP slid to a mid-morning intraday low $0.28049.
Ripple’s XRP fell through the first major support level at $0.2918 before a late recovery to $0.29 levels.
Off the back of the late support, Ripple’s XRP broke back through the first major support level at $0.2918.
At the time of writing, Ripple’s XRP was down by 0.61% to $0.29186. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29431 before falling to a low $0.29007.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move back through the $0.2941 pivot level to support a run at the first major resistance level at $0.3077.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.
Barring an extended crypto rally, the first major resistance level Wednesday’s high $0.30820 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.31 before any pullback. The second major resistance level sits at $0.3218.
Failure to move back through the $0.2941 pivot would bring the first major support level at $0.2800 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.27 levels. The second major support level sits at $0.2664.
Looking at the Technical Indicators
First Major Support Level: $0.2800
Pivot Level: $0.2941
First Major Resistance Level: $0.3077
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