Ethereum
Ethereum slid by 5.04% on Wednesday. Following a 2.12% decline on Tuesday, Ethereum ended the day at $3,923.94.
A bullish start saw Ethereum rise to an early morning intraday high $4,314.63 before hitting reverse.
Ethereum broke through the first major resistance level at $4,249 before sliding to a late morning intraday low $3,940.00.
The sell-off saw Ethereum fall through the first major support level at $4,061 and the second major support level at $3,991.
Steering clear of sub-$3,900 levels, Ethereum briefly broke back through the second major support level before ending the day at sub-$3,930.
At the time of writing, Ethereum was up by 0.52% to $3,944.16. A mixed start to the day saw Ethereum fall to an early morning low $3,922.60 before rising to a high $3,952.39.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $4,060 pivot to bring the first major resistance level at $4,179 play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,100 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,500 levels before any pullback. The second major resistance level sits at $4,434. Ethereum would need plenty of support, however, to breakout from May’s all-time high $4,383.4.
Failure to move through the $4,060 pivot would bring the first major support level at $3,804 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,700 levels. The second major support level sits at $3,685.
Looking at the Technical Indicators
First Major Support Level: $3,804
Pivot Level: $4,060
First Major Resistance Level: $4,179
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin slid by 9.22% on Wednesday. Reversing a 1.04% gain from Tuesday, Litecoin ended the day at $179.35.
A bullish start to the day saw Litecoin rise to an early morning intraday high $205.03 before hitting reverse.
Litecoin broke through the first major resistance level at $201.
Coming up against the second major resistance level at $205, Litecoin tumbled to a late morning intraday low $172.40.
The sell-off saw Litecoin fall through the day’s major support levels and through the 23.6% FIB of $178.
Finding late morning support, however, Litecoin broke back through the third major support level and the 23.6% FIB of $178 to end the day at $179 levels.
The second major support level at $187 pegged Litecoin back in the early afternoon.
At the time of writing, Litecoin was up by 1.31% to $181.70. A mixed start to the day saw Litecoin fall to an early morning low $179.11 before rising to a high $181.84.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $186 pivot to bring the first major resistance level at $199 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 Wednesday’s high $205.03 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $218.
Failure to move through the $186 pivot would bring the 23.6% FIB of $178 and the first major support level at $166 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$165. The second major support level sits at $153.
Looking at the Technical Indicators
First Major Support Level: $166
Pivot Level: $186
First Major Resistance Level: $199
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP tumbled by 10.03% on Wednesday. Reversing a 1.06% gain from Tuesday, Ripple’s XRP ended the day at $0.99432.
A mixed start saw Ripple’s XRP rise to an early intraday high $1.12399 before hitting reverse.
Falling short of the first major resistance level at $1.1473, Ripple’s XRP slumped to a late morning intraday low $0.95242.
The extended sell-off saw Ripple’s XRP fall through the day’s major support levels and through the 38.2% FIB of $1.0659.
Finding late morning support, however, Ripple’s XRP broke back through the third major support level at $0.9823 to end the day at $0.99 levels.
At the time of writing, Ripple’s XRP was up by 0.91% to $1.00333. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.99432 before rising to a high $1.00333.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to move through the $1.0236 pivot to bring the first major resistance level at $1.0947 into play.
Support would be needed, however, for Ripple’s XRP to break out from the 38.2% FIB of $1.0659.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.15 levels before any pullback. The second major resistance level sits at $1.1951.
Failure to move through the $1.0236 pivot would bring the first major support level at $0.9232 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid the 23.6% FIB of $0.8533 and the second major support level at $0.8520.
Looking at the Technical Indicators
First Major Support Level: $0.9232
Pivot Level: $1.0236
First Major resistance Level: $1.0947
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
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