Ethereum
Ethereum rose by 4.63% on Wednesday. Reversing a 0.20% loss from Tuesday, Ethereum ended the day at $1,968.37.
A mixed start to the day saw Ethereum fall to an early morning intraday low $1,823.97 before making a move.
Steering clear of the first major support level at $1,722, Ethereum rallied to a mid-morning intraday high $2,045.00.
Ethereum broke through the first major resistance level at $2,019 before falling back to sub-$2,000 levels.
At the time of writing, Ethereum was up by 0.11% to $1,970.50. A mixed start to the day saw Ethereum fall to an early morning low $1,955.46 before rising to a high $1,978.72.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $1,946 pivot to bring the first major resistance level at $2,068 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $2,045.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,200. The second major resistance level sits at $2,167.
A fall through the $1,946 pivot would bring the first major support level at $1,847 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the 62% FIB of $1,725 and the second major support level at $1,725.
Looking at the Technical Indicators
First Major Support Level: $1,847
Pivot Level: $1,946
First Major Resistance Level: $2,068
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rallied by 7.86% on Wednesday. Reversing a 3.67% fall from Tuesday, Litecoin ended the day at $129.20.
Tracking the broader market, Litecoin fell to an early morning intraday low $115.55 before making a move.
Steering clear of the first major support level at $106, Litecoin rallied to an early afternoon intraday high $133.76.
Coming up against the first major resistance level at $134 Litecoin eased back to end the day at $129 levels.
At the time of writing, Litecoin was up by 0.19% to $129.45. A mixed start to the day saw Litecoin rise to an early high $130.07 before falling to a low $128.47.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $126 pivot to bring the first major resistance level at $137 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $133.76.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $144.
A fall through the $126 pivot would bring the first major support level at $119 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$110 levels. The second major support level sits at $108.
A sustained fall through the 62% FIB of $174 led to a near-term bearish trend formation from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $119
Pivot Level: $126
First Major Resistance Level: $137
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP jumped by 16.72% on Wednesday. Reversing a 10.79% slide from Tuesday, Ripple’s XRP ended the day at $0.6060.
A mixed start to the day saw Ripple’s XRP slide to an early morning intraday low $0.51500 before making a move.
Steering clear of the first major support level at $0.4875, Ripple’s XRP rallied to an early afternoon intraday high $0.66522.
Ripple’s XRP broke through the first major resistance level at $0.6274 before a fall back to $0.60092.
Avoiding sub-$0.60 levels, Ripple’s XRP broke back through the first major resistance level to end the day at $0.637 levels.
At the time of writing, Ripple’s XRP was up by 2.84% to $0.65585. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.64032 to a high $0.65705.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid the $0.6060 pivot to bring the first major resistance level at $0.6970 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.66522.
Barring an extended crypto rally, the first major resistance level and resistance at $0.70 would likely cap any upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.80. The second major resistance level sits at $0.7562.
A fall through the $0.6060 pivot would bring the first major support level at $0.5467 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.50 levels. The second major support level sits at $0.4558.
A sustained fall through the 62% FIB of $0.8573 led to the formation of a near-term bearish trend from 14th April’s swing hi $1.96598.
Looking at the Technical Indicators
First Major Support Level: $0.5467
Pivot Level: $0.6060
First Major resistance Level: $0.6970
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire