Ethereum
Ethereum declined by 0.28% on Thursday. Following on from a 0.63% fall on Wednesday, Ethereum ended the day at $377.94.
It was another mixed start to the day. Ethereum rose to a mid-morning high $381.14 before hitting reverse.
Falling short of the major resistance levels, Ethereum fell to a late morning intraday low $370.06.
The pullback saw Ethereum fall through the first major support level before striking a late intraday high $381.99.
Falling short of the first major resistance level at $386.64, Ethereum fell back to sub-$379 levels and into the red.
At the time of writing, Ethereum was down by 0.34% to $376.65. A Bearish start to the day saw Ethereum fall from an early morning high $377.94 to a low $376.65.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through the $376.66 pivot to support a run at the first major resistance level at $383.27.
Support from the broader market would be needed, however, for Ethereum to break back through to $380 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Ethereum could test the second major resistance level at $388.59. Resistance at $390 would likely pin Ethereum back, however.
Failure to move back through the $376.66 pivot would bring the first major support level at $371.34 into play.
Barring another extended sell-off, however, Ethereum should continue to avoid the 38.2% FIB of $367. The second major support level sits at $364.73.
Looking at the Technical Indicators
First Major Support Level: $371.34
Pivot Level: $376.66
First Major Resistance Level: $383.27
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin fell by 0.46% on Thursday. Following on from a 0.24% loss on Wednesday, Litecoin ended the day at $49.58.
A relatively bullish start to the day saw Litecoin rise to a mid-morning intraday high $50.26 before hitting reverse.
Falling short of the first major resistance level at $50.82, Litecoin slid to a late morning intraday low $48.88.
Litecoin fell through the first major support level at $49.07 before revisiting $49.9 levels.
A bearish end to the day, however, saw Litecoin fall back to sub-$49.80 levels and into the red. Resistance at $50 had pinned Litecoin back late in the day.
At the time of writing, Litecoin was down by 0.42% to $49.37. A bearish start to the day saw Litecoin fall from an early morning high $49.55 to a low $49.37.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $49.57 pivot to support a run at the first major resistance level at $50.27.
Support from the broader market would be needed, however, for Litecoin to break back through to $50 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $50.26 would likely cap any upside.
In the event of another breakout, Litecoin would likely test the second major resistance level at $50.95. Resistance at $51 would likely cap any upside, however.
Failure to move through the $49.57 pivot level would bring the first major support level at $48.89 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $48.19.
Looking at the Technical Indicators
First Major Support Level: $48.89
Pivot Level: $49.57
First Major Resistance Level: $50.27
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP fell by 1.23% on Thursday. Following on from a 2.83% slide on Wednesday, Ripple’s XRP ended the day at $0.24604.
It was a choppy start to the day. Ripple’s XRP recovered from an early dip to strike a mid-morning intraday high $0.25032 before hitting reverse.
Falling well short of the first major resistance level at $0.2566, Ripple’s XRP slid to an early afternoon intraday low $0.24294.
Ripple’s XRP fell through the first major support level at $0.2442 before revisiting $0.2480 levels.
A bearish end to the day, however, left Ripple’s XRP down at $0.2460 levels and in the red.
At the time of writing, Ripple’s XRP was down by 0.28% to $0.24536. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24586 to a low $0.24512.
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 $0.2464 pivot to support a run at the first major resistance level at $0.2499.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2490 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.25032 would likely cap any upside.
In the event of an extended rally, the second major resistance level at $0.2538 would likely come into play.
Failure to move through the $0.2464 pivot would bring the first major support level at $0.2425 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level sits at $0.2391.
Looking at the Technical Indicators
First Major Support Level: $0.2425
Pivot Level: $0.2464
First Major Resistance Level: $0.2499
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