Ethereum
Ethereum slid by 3.42% on Monday. Reversing a 2.63% gain from Sunday, Ethereum ended the day at $383.33.
It was a mixed start to the day. Ethereum rose to an early morning intraday high $404.57 before hitting reverse.
Ethereum broke through the first major resistance level at $401.34 before sliding to a mid-day intraday low $378.36.
The sell-off saw Ethereum fall through the first major support level at $388.78 and the second major support level at $380.66.
Steering well clear of sub-$370 levels, Ethereum briefly revisited $388 levels before easing back to sub-$384 levels.
While breaking back through the second major support level, the first major support level pinned Ethereum back.
At the time of writing, Ethereum was down by 0.2% to $382.57. A bearish start to the day saw Ethereum fall from an early morning high $383.39 to a low $382.17.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the pivot level at $388.75 to support a run at the first major resistance level at $399.15.
Support from the broader market would be needed, however, for Ethereum to break out from $395 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $400 would likely cap any upside.
In the event of a further breakout, Ethereum could test resistance at $410 before any pullback. The second major resistance level sits at $414.96.
Failure to move through the $388.75 pivot would bring the first major support level at $372.94 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $362.54. The 38.2% FIB of $367 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $372.94
Pivot Level: $388.75
First Major Resistance Level: $399.15
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin slid by 3.18% on Monday. Following on from a 0.23% decline on Sunday, Litecoin ended the day at $53.90.
A bullish start to the day saw Litecoin strike an early morning intraday high $56.85 before hitting reverse.
Litecoin broke through the first major resistance level at $56.53 before sliding to a mid-day intraday low $53.12.
Litecoin fell through the first major support level at $54.44 and the 23.6% FIB of $54.00.
Finding support at the second major support level at $53.23, Litecoin revisited $54.5 levels before easing back.
While the first major support level pinned Litecoin back, the 23.6% FIB provided support late in the day.
At the time of writing, Litecoin was down by 0.33% to $53.72. A bearish start to the day saw Litecoin fall from an early morning high $53.93 to a low $53.66.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the 23.6% FIB and the $54.62 pivot to support a run at the first major resistance level at $56.13.
Support from the broader market would be needed, however, for Litecoin to break back through to $56 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin would likely test resistance at $57 before any pullback. The second major resistance level sits at $58.35.
Failure to move through the 23.6% FIB and the $54.62 pivot level would bring the first major support level at $52.40 into play.
Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.89 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $52.40
Pivot Level: $54.62
First Major Resistance Level: $56.13
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 2.12% on Monday. Reversing a 0.14% gain from Sunday, Ripple’s XRP ended the day at $0.23549.
It was a bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.24489 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.2421 and the second major resistance level at $0.2441.
Falling short of the third major resistance level at $0.2487, Ripple’s XRP slid to a mid-day intraday low $0.23297.
Ripple’s XRP fell through the first major support level at $0.2375 and the second major support level at $0.2349.
Steering clear of the third major support level at $0.2303, Ripple’s XRP briefly recovered to $0.236 levels before easing back.
The first major support level at $0.2375 pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was down by 0.24% to $0.23492. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.23546 to a low $0.23487.
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 $0.2378 pivot level to support a run at the first major resistance level at $0.2426.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.25 before any pullback. The second major resistance level sits at $0.2497.
Failure to move through the $0.2378 pivot would bring the first major support level at $0.2307 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 support levels. The second major support level sits at $0.2259.
Looking at the Technical Indicators
First Major Support Level: $0.2307
Pivot Level: $0.2378
First Major Resistance Level: $0.2426
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