Ethereum
Ethereum rose by 6.66% on Monday. Following on from a 7.42% rally on Sunday, Ethereum ended the day at $729.70.
A mixed start to the day saw Ethereum fall to an early morning intraday low $680.90 before making a move.
Steering clear of the first major support level at $634.42, Ethereum rallied to a late intraday high and a new swing hi $747.00.
Ethereum broke through the first major resistance level at $724.4 to wrap up the day at $729 levels.
At the time of writing, Ethereum was up by 1.01% to $737.10. A mixed start to the day saw Ethereum fall to an early morning low $728.00 before rising to a high $739.66.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the pivot level at $719.20 to support a run at the first major resistance level at $757.40.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $747.00.
Barring another extended crypto rally, the first major resistance level and resistance at $760 would likely cap any upside.
In the event of another extended crypto rally, Ethereum could test resistance at $780 before any pullback. The second major resistance level sits at $783.20.
Failure to avoid a fall through the $719.20 pivot would bring the first major support level at $691.40 into play.
Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level sits $653.10.
Looking at the Technical Indicators
First Major Support Level: $691.40
Pivot Level: $719.20
First Major Resistance Level: $757.50
23.6% FIB Retracement Level: $565
38.2% FIB Retracement Level: $473
62% FIB Retracement Level: $323
Litecoin
Litecoin rose by 1.58% on Monday. Reversing a 1.51% fall from Sunday, Litecoin ended the day at $129.69.
It was a bullish start to the day. Litecoin rose from an early morning intraday low $126.21 to a late morning intraday high $136.99.
Falling short of the first major resistance level at $137.42, Litecoin fell back to sub-$130 levels.
Finding late support, however, Litecoin revisited $131 levels before easing back to sub-$130 levels.
At the time of writing, Litecoin was up by 0.59% to $130.46. A mixed start to the day saw Litecoin fall to an early morning low $129.10 before rising to a high $130.67.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $130.96 pivot to support a run at the first major resistance level at $135.72.
Support from the broader market would be needed, however, for Litecoin to break back through to $135 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $136.99 would likely cap any upside.
In the event of another extended breakout, Litecoin could test resistance at $145 before any pullback. The second major resistance level sits at $141.74.
Failure to move through the $130.96 pivot level would bring the first major support level at $124.94 into play.
Barring an extended sell-off on the day, however, Litecoin should steer of sub-$120 levels. The second major support level at $120.18 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $124.94
Pivot Level: $130.96
First Major Resistance Level: $135.72
23.6% FIB Retracement Level: $112
38.2% FIB Retracement Level: $96
62% FIB Retracement Level: $69
Ripple’s XRP
Ripple’s XRP tumbled by 12.73% on Monday. Following on from a 3.76% slide on Sunday, Ripple’s XRP ended the day at $0.24745. It was a 4th consecutive day in the red for Ripple’s XRP.
Recovering from an early morning low $0.2700, Ripple’s XRP rose to a late morning intraday high $0.30942 before hitting reverse.
Coming up against the first major resistance level at $0.3080 and resistance at $0.31, Ripple’s XRP slid to a late intraday low $0.23336.
Ripple’s XRP fell through the first major support level at $0.2622 and the second major support level at $0.2410.
Finding late support, however, Ripple’s XRP moved back through the second major support level to end the day at $0.247 levels.
At the time of writing, Ripple’s XRP was down by 1.54% to $0.24364. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24775 to a low $0.24100.
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 $0.2634 pivot level to bring the first major resistance level at $0.2935 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.29 levels.
Barring another extended crypto rally, the first major resistance would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.32. The second major resistance sits at $0.3395.
Failure to move through the $0.2634 pivot would bring the first major support level at $0.2174 into play.
Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.20 levels. The second major support level sits at $0.1874.
Looking at the Technical Indicators
First Major Support Level: $0.2174
Pivot Level: $0.2634
First Major Resistance Level: $0.2935
23.6% FIB Retracement Level: $0.6274
38.2% FIB Retracement Level: $0.5285
62% FIB Retracement Level: $0.3687
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire
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