Ethereum
Ethereum fell by 1.40% on Tuesday. Partially reversing a 3.30% rally from Monday, Ethereum ended the day at $381.37.
It was a mixed start to the day. Ethereum rose to an early morning intraday high $387.88 before hitting reverse.
Falling short of the first major resistance level at $399.36, Ethereum fell to an early afternoon intraday low $374.29.
Steering clear of the first major support level at $369.95, Ethereum revisited $383 levels before easing back.
At the time of writing, Ethereum was down by 0.04% to $381.23. A mixed start to the day saw Ethereum rise to an early morning high $382.21 before falling to a low $380.56.
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 $381.18 pivot to support a run at the first major resistance level at $388.07.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $387.88.
Barring another extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, Ethereum could test the second major resistance level at $394.77. Resistance at $400 would likely pin Ethereum back, however.
Failure to avoid a fall back through the $381.18 pivot would bring the first major support level at $374.48 into play.
Barring another extended sell-off, however, Ethereum should avoid the second major support level at $367.59 and the 38.2% FIB of $367.
Looking at the Technical Indicators
First Major Support Level: $374.48
Pivot Level: $381.18
First Major Resistance Level: $388.07
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin fell by 1.30% on Tuesday. Reversing a 0.28% gain from Monday, Litecoin ended the day at $49.94.
Tracking the broader market, Litecoin rose to an early morning intraday high $50.72 before hitting reverse.
Falling short of the first major resistance level at $51.68, Litecoin fell to an early afternoon intraday low $48.86.
Litecoin fell through the first major support level at $49.42 before a recovery to $50 levels.
A bearish end to the day, however, left Litecoin at sub-$50 at the day end.
At the time of writing, Litecoin was down by 0.04% to $49.92. A mixed start to the day saw Litecoin rise to an early morning high $49.97 before falling to a low $49.86.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $49.84 pivot to support a run at the first major resistance level at $50.82.
Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $50.72.
Barring an extended crypto rally, Tuesday’s high and the first major resistance level would likely cap any upside.
In the event of another breakout, Litecoin would likely test the second major resistance level at $51.70. Resistance at $52 would likely cap any upside, however.
Failure to avoid a fall through the $49.84 pivot level would bring the first major support level at $48.96 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $47.98.
Looking at the Technical Indicators
First Major Support Level: $48.96
Pivot Level: $49.84
First Major Resistance Level: $50.82
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP rose by 0.25% on Tuesday. Following on from a 0.30% gain on Monday, Ripple’s XRP ended the day at $0.25678.
A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $0.25998 before hitting reverse.
Coming up against the first major resistance level at $0.2601, Ripple’s XRP slid to an early afternoon intraday low $0.25261.
Steering clear of the first major support level at $0.2507, Ripple’s XRP recovered to $0.256 levels to end the day in the green.
At the time of writing, Ripple’s XRP was down by 0.35% to $0.25588. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25662 to a low $0.25588.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through the $0.2565 pivot to support a run at the first major resistance level at $0.2603.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.25998.
Barring an extended crypto rally, the Tuesday’s high and the first major resistance level would likely cap any upside.
In the event of an extended rally, the second major resistance level at $0.2638 would likely come into play.
Failure to move through the $0.2565 pivot would bring the first major support level at $0.2529 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2450 levels. The second major support level at $0.2491 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.2529
Pivot Level: $0.2565
First Major Resistance Level: $0.2603
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
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Thanks, Bob
This article was originally posted on FX Empire