Ethereum
Ethereum slid by 5.81% on Friday. Reversing a 5.53% gain from Thursday, Ethereum ended the day at $2,690.68.
A mixed start to the day saw Ethereum rise to an early morning intraday high $2,859.89 before hitting reverse.
Falling short of the first major resistance level at $2,944, Ethereum slid to a mid-day intraday low $2,555.01.
Ethereum fell through the first major support level at $2,717 and the second major support level at $2,576.
More significantly, Ethereum also fell through the 38.2% FIB of $2,740 before finding support.
Through the afternoon, Ethereum revisited $2,741 levels before easing back. The 38.2% FIB pinned Ethereum back late in the day.
At the time of writing, Ethereum was up by 1.05% to $2,719.05. A mixed start to the day saw Ethereum fall to an early morning low $2,674.76 before rising to a high $2,726.39.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall back through the $2,702 pivot to bring 38.2% FIB and the first major resistance level at $2,849 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,800 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $2,859.89 would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,100. The second major resistance level sits at $3,007.
A fall back through the $2,702 pivot would bring the first major support level at $2,544 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $2,397.
Looking at the Technical Indicators
First Major Support Level: $2,544
Pivot Level: $2,702
First Major Resistance Level: $2,849
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin slid by 7.71% on Friday. Reversing a 3.41% gain from Thursday, Litecoin ended the day at $178.63.
A bearish start to the day saw Litecoin fall from an early intraday high $193.8 to a mid-day intraday low $169.18.
Litecoin fell through the first major support level at $185 and the second major support level at $176.
More significantly, Litecoin also fell through the 62% FIB of $174 before finding support.
Through the afternoon, Litecoin broke back through the 62% FIB and the second major support level to end the day at $178 levels.
At the time of writing, Litecoin was up by 1.73% to $181.72. A mixed start to the day saw Litecoin fall to an early morning low $177.50 before rising to a high $182.00.
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 $181 pivot to bring the first major resistance level at $192 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $193.80 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $210. The second major resistance level sits at $205.
A fall back through the $181 pivot would bring the 38.2% FIB of $174 and the first major support level at $167 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $156.
A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $167
Pivot Level: $181
First Major Resistance Level: $192
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP slid by 7.09% on Friday. Reversing a 2.06% gain from Thursday. Ripple’s XRP ended the day at $0.96904.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.04382 before hitting reverse.
Falling short of the first major resistance level at $1.0793, Ripple’s XRP slid to a late morning intraday low $0.91692.
The sell-off saw Ripple’s XRP fall through the first major support level at $1.0095 and the second major support level at $0.9738.
Steering clear of the third major support level at $0.9040, Ripple’s XRP revisited $0.98 before a bearish end to the day.
Ripple’s XRP briefly broke back through the second major support level at $0.9738 before ending the day at sub-$0.97 levels.
At the time of writing, Ripple’s XRP was up by 0.86% to $0.97742. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.96370 before rising to a high $0.97742.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall back through the $0.9766 pivot to bring the first major resistance level at $1.0363 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.00 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $1.04382 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $1.15. The second major resistance level sits at $1.1035.
A fall back through the $0.9766 pivot would bring the first major support level at $0.9094 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 62% FIB of $0.8573. The second major support level sits at $0.8497.
A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.
Looking at the Technical Indicators
First Major Support Level: $0.9094
Pivot Level: $0.9766
First Major resistance Level: $1.0363
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