Ethereum
Ethereum rallied by 7.65% on Wednesday. Reversing a 3.56% loss from Tuesday, Ethereum ended the day at $1,130.80.
A bearish start to the day saw Ethereum fall to an early morning low $980.00 before making a move.
Finding support at the first major support level at $988, Ethereum rallied to a late intraday high $1,137.75.
Ethereum broke through the 23.6% FIB of $1,051 to wrap up the day at $1,120 levels. The first major resistance level at $1,131 pinned Ethereum back late in the day.
At the time of writing, Ethereum was up by 1.30% to $1,145.48. A bullish start to the day saw Ethereum rise from an early morning low $1,130.44 to a high $1,145.76.
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 $1,083 to support a run at the first major resistance level at $1,186.
Support from the broader market would be needed, however, for Ethereum to break out from $1,150 levels.
Barring an extended crypto rally, the first major resistance level and resistance $1,200 would likely cap any upside.
In the event of an extended crypto rally, Ethereum could test resistance at $1,350 before any pullback. The second major resistance level sits at $1,241.
Failure to avoid a fall through the $1,083 pivot would bring the 23.6% FIB of $1,051 and the first major support level at $1,028 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $925.
Looking at the Technical Indicators
First Major Support Level: $1,028
Pivot Level: $1,083
First Major Resistance Level: $1,186
23.6% FIB Retracement Level: $1,051
38.2% FIB Retracement Level: $866
62% FIB Retracement Level: $566
Litecoin
Litecoin jumped by 10.61% on Wednesday. Reversing a 4.28% decline from Tuesday. Litecoin ended the day at $147.51.
A mixed start to the day saw Litecoin slide to an early morning intraday low $125.70 before making a move.
Coming within range of the first major support level and 38.2% FIB of $125, Litecoin rallied to a final hour intraday high $148.50.
Litecoin broke through the first major resistance level at $144 to come up against the 23.6% FIB of $148 before easing back.
At the time of writing, Litecoin was up by 1.55% to $149.80. A bullish start to the day saw Litecoin rise from an early morning low $147.46 to a high $149.99.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $140.5 pivot level to support a run at the first major resistance level at $155.3.
Support from the broader market would be needed, however, for Litecoin to break out from $150 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $170. The second major resistance level at $163.1.
Failure to avoid a fall through the $140.5 pivot level would bring the first major support level at $132.7 into play.
Barring an extended sell-off, Litecoin should avoid the second major support level at $117.9. The 38.2% FIB of $125 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $132.7
Pivot Level: $140.5
First Major Resistance Level: $155.3
23.6% FIB Retracement Level: $148
38.2% FIB Retracement Level: $125
62% FIB Retracement Level: $87
Ripple’s XRP
Ripple’s XRP rallied by 4.54% on Wednesday. Following on from a 1.66% gain on Tuesday, Ripple’s XRP ended the day at $0.30578.
It was a bearish start to the day. Ripple’s XRP fell to an early morning intraday low $0.2840 before making a move.
Steering clear of the first major support level at $0.2767, Ripple’s XRP rallied to a late intraday high $0.30984.
Ripple’s XRP came up against the first major resistance level at $0.3092 before easing back.
At the time of writing, Ripple’s XRP was up by 0.83% to $0.30833. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.30578 to a high $0.30906.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.2999 pivot level to bring the first major resistance level at $0.3157 and the 23.6% FIB of $0.3172 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.31 levels.
Barring another extended crypto rally, the first major resistance and the 23.6% FIB would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at $0.33 before any pullback. The second major resistance sits at $0.3257.
Failure to avoid a fall through the $0.2999 pivot would bring the first major support level at $0.2899 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.28 levels. The second major support level sits at $0.2740.
Looking at the Technical Indicators
First Major Support Level: $0.2899
Pivot Level: $0.2999
First Major Resistance Level: $0.3157
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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