Ethereum
Ethereum rose by 5.13% on Wednesday. Following on from a 3.94% gain on Tuesday, Ethereum ended the day at $2,276.72.
A mixed start to the day saw Ethereum fall to an early morning intraday low $2,089.16 before making a move.
Steering clear of the first major support level at $2,078, Ethereum rallied to a late intraday high $2,288.00.
Ethereum broke through the first major resistance level at $2,251 to end the day at $2,270 levels.
At the time of writing, Ethereum was down by 1.70% to $2,237.91. A mixed start to the day saw Ethereum rise to an early morning high $2,277.44 before falling to a low $2,235.25.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $2,218 pivot to bring the first major resistance level at $2,347 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $2,288.00.
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 $2,500. The second major resistance level sits at $2,417.
A fall through the $2,218 pivot would bring the first major support level at $2,148 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,019 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,148
Pivot Level: $2,218
First Major Resistance Level: $2,347
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 0.12% on Wednesday. Following a 4.70% gain on Tuesday, Litecoin ended the day at $144.36.
A mixed start to the day saw Litecoin rise to an early morning intraday high $146.94 before hitting reverse.
Falling short of the first major resistance level at $150, Litecoin fell to a late afternoon intraday low $136.09.
Litecoin fell through the first major support level at $138 before a late move back through to $144 levels.
At the time of writing, Litecoin was by 1.24% to $142.57. A bearish start to the day saw Litecoin fall from an early morning high $144.43 to a low $142.18.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $143 pivot to bring the first major resistance level at $149 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $146.94.
Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $160. The second major resistance level sits at $153.
Failure to move back through the $143 pivot would bring the first major support level at $138 into play.
Barring an extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level at $132 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $138
Pivot Level: $143
First Major Resistance Level: $149
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 0.60% on Wednesday. Partially reversing a 9.51% rally from Tuesday, Ripple’s XRP ended the day at $0.70304.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.71322 before hitting reverse.
Falling short of the first major resistance level at $0.7443, Ripple’s XRP slid to a late afternoon intraday low $0.64855.
Ripple’s XRP fell through the first major support level at $0.6546 before a partial recovery to $0.70 levels.
At the time of writing, Ripple’s XRP was down by 1.48% to $0.69262. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.70433 to a low $0.69236.
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 $0.6883 pivot to bring the first major resistance level at $0.7280 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.71322.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Ripple’s XRP could test resistance at $0.80. The second major resistance level sits at $0.7529.
A fall through the $0.6883 pivot would bring the first major support level at $0.6633 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6236.
Looking at the Technical Indicators
First Major Support Level: $0.6633
Pivot Level: $0.6883
First Major resistance Level: $0.7280
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
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Thanks, Bob
This article was originally posted on FX Empire