Ethereum
Ethereum slid by 4.09% on Wednesday. Reversing a 2.02% gain from Tuesday, Ethereum ended the day at $1,795.37.
A mixed start to the day saw Ethereum rise to an early morning intraday high $1,879.00 before hitting reverse.
Falling short of the first major resistance level at $1,896, Ethereum fell to an early morning intraday low $1,756.29.
The sell-off saw Ethereum fall through the first major support level at $1,824 and the second major support level at $1,776.
Finding late morning support, Ethereum broke back through the support levels to briefly revisit $1,860 levels.
A bearish end to the day, however, saw Ethereum fall back through the first major support level to end the day at sub-$1,800.
At the time of writing, Ethereum was down by 0.84% to $1,780.20. A mixed start to the day saw Ethereum rise to an early morning high $1,798.23 before falling to a low $1,770.00
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the pivot level at $1,810 to support a run at the first major resistance level at $1,864.
Support from the broader market would be needed, however, for Ethereum to break back through to $1,850 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $1,900 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $1,950 before any pullback. The second major resistance level sits at $1,933.
Failure to move through the $1,810 pivot would bring the first major support level at $1,741 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,688.
Looking at the Technical Indicators
First Major Support Level: $1,741
Pivot Level: $1,810
First Major Resistance Level: $1,864
23.6% FIB Retracement Level: $1,579
38.2% FIB Retracement Level: $1,292
62% FIB Retracement Level: $830
Litecoin
Litecoin fell by 1.86% on Wednesday. Partially reversing a 6.29% rally from Tuesday, Litecoin ended the day at $200.23.
A mixed start to the day saw Litecoin fall from an early morning high $207.79 to an early morning intraday low $191.23.
Litecoin fell through the 23.6% FIB of $195 and the first major support level at $194 before striking a late intraday high $208.00.
Falling short of the first major resistance level at $210, Litecoin slid back to $196 levels before ending the day at $200 levels.
At the time of writing, Litecoin was down by 0.81% to $198.60. A mixed start to the day saw Litecoin rise to an early morning high $201.69 before falling to a low $197.68.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $200 pivot level to support a run at the first major resistance level at $208.
Support from the broader market would be needed, however, for Litecoin to break out from $205 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $217.
Failure to move back through the $200 pivot level would bring 23.6% FIB of $195 and the first major support level at $192 into play.
Barring an extended sell-off, Litecoin should steer clear of the second major support level at $183.
Looking at the Technical Indicators
First Major Support Level: $192
Pivot Level: $200
First Major Resistance Level: $208
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP
Ripple’s XRP slid by 4.77% on Wednesday. Reversing a 2.38% gain from Tuesday, Ripple’s XRP ended the day at $0.46237.
It was another choppy day. Ripple’s XRP rose to an early morning intraday high $0.48865 before hitting reverse.
Falling short of the first major resistance level at $0.4917, Ripple’s XRP tumbled to an early morning intraday low $0.45521.
Ripple’s XRP fell through the first major support level at $0.4754 and the second major support level at $0.4653.
More significantly, Ripple’s XRP also fell through the 38.2% FIB of $0.4632.
Steering clear of sub-$0.45 levels, Ripple’s XRP revisited $0.472 levels before falling back into the deep red.
Ripple’s XRP had briefly broken back through the 38.2% FIB and the second major support level before revisiting sub-$0.46 levels.
A late move back through to $0.46 levels reduced the deficit on the day. The 38.2% FIB pinned Ripple’s XRP back late on, however.
At the time of writing, Ripple’s XRP was down by 0.58% to $0.45971. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.46161 to a low $0.45703.
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 38.2% FIB and the $0.4687 pivot level to bring the first major resistance level at $0.4823 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.48 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $0.49 would cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.50 before any pullback. The second major resistance level sits at $0.5022.
Failure to move through the 38.2% FIB and the $0.4687 pivot would bring the first major support level at $0.4488 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.43 levels. The second major support level at $0.4353 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.4488
Pivot Level: $0.4687
First Major resistance Level: $0.4823
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
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Thanks, Bob
This article was originally posted on FX Empire