Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP
Ethereum
Ethereum fell by 1.07% on Wednesday. Partially reversing a 4.16% rally from Tuesday, Ethereum ended the day at $4,587.
A bullish morning saw Ethereum rise to a late morning intraday high $4,785 before hitting reverse. Falling short of the first major resistance level at $4,812, Ethereum slid to a late intraday low $4,527.
Steering clear of the first major support level at $4,404, however, Ethereum found support to end the day at $4,500 levels.
At the time of writing, Ethereum was down by 0.04% to $4,585. A mixed start to the day saw Ethereum rise to an early morning high $4,589 before falling to a low $4,563.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $4,633 pivot to bring the first major resistance level at $4,739 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,700 levels. Barring an extended rally, the first major resistance level and Tuesday’s high $4,785 should limit the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at the ATH $4,868 before any pullback. The second major resistance level sits at $4,890.
Failure to move through the $4,633 pivot would bring the first major support level at $4,481 into play. Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,300 levels. The second major support level at $4,375 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $4,481
Pivot Level: $4,633
First Major Resistance Level: $4,739
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin rose by 0.43% on Wednesday. Following a 1.05% gain on Tuesday, Litecoin ended the day at $208.91.
A bullish start to the day saw Litecoin rise to an early afternoon intraday high $217.97 before hitting reverse. Falling short of the first major resistance level at $220, Litecoin slid to a late intraday low $205.29.
Steering clear of the first major support level at $197, however, Litecoin moved back through to $208 levels to end the day in the green.
At the time of writing, Litecoin was down by 0.26% to $208.37. A mixed start to the day saw Litecoin rise to an early morning high $209.18 before falling to a low $208.19.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $211 pivot to bring the first major resistance level at $216 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $215 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $217.97 would likely cap the upside.
In the event of an extended rally, Litecoin could test the second major resistance level at $223 and the 38.2% FIB of $223 before any pullback.
Failure to move through the $211 pivot would bring the first major support level at $204 into play. Barring an extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level sits at $198.
Looking at the Technical Indicators
First Major Support Level: $204
Pivot Level: $211
First Major Resistance Level: $216
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 0.66% on Wednesday. Partially reversing a 0.86% gain from Tuesday, Ripple’s XRP ended the day at $0.9912.
A mixed morning saw Ripple’s XRP rise to a late morning intraday high $1.0178 before hitting reverse. Falling short of the first major resistance level at $1.0292, Ripple’s XRP slid to a late intraday low $0.9808.
Steering clear of the first major support level at $0.9707, Ripple’s XRP found support to end the day at $0.99 levels.
At the time of writing, Ripple’s XRP was down by 0.54% to $0.9858. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.9901 to a low $0.9858.
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 $0.9966 pivot to bring the first major resistance level at $1.0123 into play.
Support 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 Wednesday’s high $1.0178 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at the 38.2% FIB of $1.0659 before any pullback. The second major resistance level sits at $1.0335.
Failure to move through the $0.9966 pivot would bring first major support level at $0.9754 into play. Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$0.95 levels. The second major support level at $0.9597 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.9754
Pivot Level: $0.9966
First Major resistance Level: $1.0123
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
This article was originally posted on FX Empire