Ethereum
Ethereum rose by 1.59% on Wednesday. Partially reversing a 4.12% loss from Tuesday, Ethereum ended the day at $2,850.14.
After a mixed start to the day, Ethereum rallied to a mid-day intraday high $2,950.60 before hitting reverse.
Ethereum broke through the first major resistance level at $2,924 before falling to a late intraday low $2,781.99.
Steering clear of the 38.2% FIB of $2,740 and the first major support level at $2,735, Ethereum bounced back to end the day $2,850 levels.
At the time of writing, Ethereum was down by 0.25% to $2,842.91. A mixed start to the day saw Ethereum fall to an early morning low $2,840.15 before rising to a high $2,856.59.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $2,861 pivot to bring the first major resistance level at $2,940 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,900 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2,950.60 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,100 before any pullback. The second major resistance level sits at $3,030.
Failure to move through the $2,861 pivot would bring the first major support level at $2,771 and the 38.2% FIB of $2,740 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,700 levels. The second major support level sits at $2,692.
Looking at the Technical Indicators
First Major Support Level: $2,771
Pivot Level: $2,861
First Major Resistance Level: $2,940
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 3.01% on Wednesday. Reversing a 3.12% fall from Tuesday, Litecoin ended the day at $144.78.
A mixed start to the day saw Litecoin fall to an early morning intraday low $139.77 before making a move.
Steering clear of the first major support level at $137, Litecoin rallied to a mid-day intraday high $150.40.
Litecoin broke through the first major resistance level at $146 before briefly falling back to $142 levels.
At the time of writing, Litecoin was down by 0.28% to $144.37. A bearish start to the day saw Litecoin fall from an early morning high $144.76 to a low $144.14.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $145 pivot to bring the first major resistance level at $150 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $150 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $150.40 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $160 before any pullback. The second major resistance level sits at $156.
Failure to move through the $145 pivot would bring the first major support level at $140 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $134.
Looking at the Technical Indicators
First Major Support Level: $140
Pivot Level: $145
First Major Resistance Level: $150
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP rose by 3.91% on Tuesday. Reversing a 3.07% decline from Tuesday, Ripple’s XRP ended the day at $0.92751.
A mixed start saw Ripple’s XRP fall to an early morning intraday low $0.88657 before making a move.
Steering clear of the first major support level at $0.8757, Ripple’s XRP rallied to an early afternoon intraday high $0.99191.
Ripple’s XRP broke through the first major resistance level at $0.9270 and the second major resistance level at $0.9603.
Falling short of $1.00 levels, however, Ripple’s XRP slid back to sub-$0.91 levels before finding late support.
Ripple’s XRP broke back through the first major resistance level to end the day at $0.9275 levels.
At the time of writing, Ripple’s XRP was down by 0.30% to $0.92469. A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.92599 before falling to a low $0.92405.
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 $0.9353 pivot to bring the first major resistance level at $0.9841 into play.
Support would be needed, however, for Ripple’s XRP to break out from $0.95 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.99191 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.0407.
Failure to move through $0.9353 pivot would bring the first major support level at $0.8788 into play.
Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.8300. The 23.6% FIB of $0.8533 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.8788
Pivot Level: $0.9353
First Major resistance Level: $0.9841
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire