Ethereum
Ethereum rose by 1.07% on Wednesday. Following on from a 7.81% rally on Tuesday, Ethereum ended the day at $2,357.21.
A bearish start to the day saw Ethereum fall to a late morning intraday low $2,237.02 before making a move.
Steering clear of the first major support level at $2,141, Ethereum rallied to a late afternoon intraday high $2,471.72.
Ethereum broke through the first major resistance level at $2,437 before easing back to end the day at sub-$2,400 levels.
At the time of writing, Ethereum was down by 0.43% to $2,347.01. A mixed start to the day saw Ethereum rise to an early morning high $2,379.26 before falling to a low $2,317.25.
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 $2,355 to support a run at the first major resistance level at $2,474.
Support from the broader market would be needed, however, for Ethereum to break out from $2,450 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2,471.72 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at last week’s new swing hi $2,548.0 and resistance at $2,600. The second major resistance level sits at $2,590.
Failure to move back through the $2,355 pivot would bring the first major support level at $2,239 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $1,966. The second major support level at $2,121 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,239
Pivot Level: $2,355
First Major Resistance Level: $2,474
23.6% FIB Retracement Level: $1,966
38.2% FIB Retracement Level: $1,606
62% FIB Retracement Level: $1,023
Litecoin
Litecoin fell by 1.18% on Wednesday. Following a 0.26% decline from Tuesday, Litecoin ended the day at $257.78.
A mixed start to the day saw Litecoin fall to a late morning intraday low $251.17 before making a move.
Steering clear of the first major support level at $238, Litecoin rallied to a late afternoon intraday high $276.97.
While falling short of the first major resistance level at $280, Litecoin broke through the 23.6% FIB of $262.
A bearish end to the day, however, saw Litecoin fall back through the 23.6% FIB to end the day at sub-$260 levels.
At the time of writing, Litecoin was down by 0.66% to $256.09. A mixed start to the day saw Litecoin rise to an early morning high $260.89 before falling to a low $252.45.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $262 pivot level and the 23.6% FIB of $262 to support a run at the first major resistance level at $273.
Support from the broader market would be needed, however, for Litecoin to break back through to $270 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $276.97 would likely cap any upside.
In the event of a bounce back, Litecoin could test resistance at $300. The second major resistance level sits at $288.
Failure to move through the $262 pivot level and the 23.6% FIB of $262 would bring the first major support level at $247 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $236.
Looking at the Technical Indicators
First Major Support Level: $247
Pivot Level: $262
First Major Resistance Level: $273
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138
Ripple’s XRP
Ripple’s XRP slid by 6.95% on Wednesday. Reversing a 5.76% gain from Tuesday, Ripple’s XRP ended the day at $1.29017.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $1.46406 before hitting reverse.
Falling short of the first major resistance level at $1.4980, Ripple’s XRP slid to a late morning intraday low $1.28153.
Steering clear of the 38.2% FIB of $1.2807 and the first major support level at $1.2235, Ripple’s XRP revisited $1.41 levels before falling back into the deep red.
At the time of writing, Ripple’s XRP was up by 0.44% to $1.29580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.26656 before rising to a high $1.30498.
While leaving the major support and resistance levels untested early on, Ripple’s XRP briefly fell through the 38.2% FIB of $1.2807.
For the day ahead
Ripple’s XRP will need to move through the $1.3453 pivot level to bring the first major resistance level at $1.4090 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.40 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $1.46406 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at the 23.6% FIB of $1.5426. The second major resistance level sits at $1.5278.
Failure to move through the $1.3453 pivot would bring the 38.2% FIB of $1.2807 and the first major support level at $1.2264 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.20 levels. The second major support level sits at $1.1627.
Looking at the Technical Indicators
First Major Support Level: $1.2264
Pivot Level: $1.3453
First Major resistance Level: $1.4090
23.6% FIB Retracement Level: $1.5426
38.2% FIB Retracement Level: $1.2807
62% FIB Retracement Level: $0.8573
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Thanks, Bob
This article was originally posted on FX Empire