Ethereum
Ethereum rallied by 3.92% on Wednesday. Following a 0.08% gain on Tuesday, Ethereum ended the day at $1.852.00.
A bearish start to the day saw Ethereum slide to an early morning intraday low $1,733.87 before finding support.
Steering clear of the first major support level at $1,730 Ethereum rallied to a late intraday high $1,857.61 before easing back.
Ethereum broke through the first major resistance level at $1,830 to end the day at $1,850 levels.
At the time of writing, Ethereum was up by 0.32% to $1,858.00. A bullish start to the day saw Ethereum rise from an early morning low $1,851.47 to a high $1,864.00.
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 $1,815 to support a run at the first major resistance level at $1,895.
Support from the broader market would be needed, however, for Ethereum to break out from last week’s swing hi $1,877.88.
Barring an extended crypto rally, the first major resistance level resistance at $1,900 would likely cap any upside.
In the event of an extended crypto rally, Ethereum could test resistance at the second major resistance level at $1,938.
Failure to avoid a fall through the $1,815 pivot would bring the first major support level at $1,771 into play.
Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,700 levels. The second major support level sits at $1,691.
Looking at the Technical Indicators
First Major Support Level: $1,771
Pivot Level: $1,815
First Major Resistance Level: $1,895
23.6% FIB Retracement Level: $1,454
38.2% FIB Retracement Level: $1,191
62% FIB Retracement Level: $767
Litecoin
Litecoin rallied by 13.02% on Wednesday. Following a 0.99% gain on Tuesday, Litecoin ended the day at $237.54.
A mixed start to the day saw Litecoin fall to an early morning low $203.52 before making a move.
Steering clear of the first major support level at $199.58, Litecoin rallied to a late intraday high and a new swing hi $237.59.
Litecoin broke through the first major resistance level at $221.35 and the second major resistance level at $232.54 to end the day at $237 levels.
At the time of writing, Litecoin was down by 1.11% to $234.90. A mixed start to the day saw Litecoin rise to early morning high $239.11 before falling to a low $233.73.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $226.22 pivot level to support a run at the first major resistance level at $248.91.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s new swing hi $237.59.
Barring an extended crypto rally, the first major resistance level and resistance at $250 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $260.29.
Failure to avoid a fall through the $226.22 pivot level would bring the first major support level at $214.84 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$200 and the second major support level at $192.15.
Looking at the Technical Indicators
First Major Support Level: $214.84
Pivot Level: $226.22
First Major Resistance Level: $248.91
23.6% FIB Retracement Level: $187
38.2% FIB Retracement Level: $156
62% FIB Retracement Level: $106
Ripple’s XRP
Ripple’s XRP rose by 2.60% on Wednesday. Partially reversing a 5.35% slide from Tuesday, Ripple’s XRP ended the day at $0.53367.
Tracking the broader market, Ripple’s XRP fell through the 23.6% FIB of $0.5320 to an early morning intraday low $0.49394 before making a move.
Steering clear of the first major support level at $0.4745, Ripple’s XRP rose to a late afternoon intraday high $0.55741.
Falling short of the first major resistance level at $0.5726, Ripple’s XRP eased back to end the day at $0.53 levels.
The 23.6% FIB of $0.5320 delivered support late in the day.
At the time of writing, Ripple’s XRP was up by 2.47% to $0.54673. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.53489 to a high $0.54775.
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 23.6% FIB of $0.5320 and the $0.5283 pivot level to bring the first major resistance level at $0.5627 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.55741.
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 $0.60 before any pullback. The second major resistance level sits at $0.5918.
Failure to avoid a fall through the 23.6% FIB and the $0.5283 pivot would bring and the first major support level at $0.4993 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.4649.
Looking at the Technical Indicators
First Major Support Level: $0.4993
Pivot Level: $0.5283
First Major Resistance Level: $0.5627
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
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Thanks, Bob
This article was originally posted on FX Empire