Ethereum
Ethereum rose by 0.32% on Thursday. Partially reversing a 5.19% slide from Wednesday, Ethereum ended the day at $1,587.08.
A bearish start to the day saw Ethereum fall to an early morning intraday low $1,548.69 before making a move.
While steering clear of the first major support level at $1,508, Ethereum fell through the 23.6% FIB of $1,579.
Finding support in the early hours, however, Ethereum rallied to a late morning intraday high $1,622.27 before hitting reverse.
While falling short of the first major resistance level at $1,699, Ethereum broke back through the 23.6% FIB.
The reversal, however, saw Ethereum revisit sub-$1,560 levels before ending the day at $1,587 levels.
At the time of writing, Ethereum was up by 1.02% to $1,603.21. A mixed start to the day saw Ethereum fall to an early morning low $1,586.81 before rising to a high $1,604.43.
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 $1,586 to support a run at the first major resistance level at $1,623.
Support from the broader market would be needed, however, for Ethereum to break back through to $1,620 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $1,622.27 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $1,700 before any pullback. The second major resistance level sits at $1,660.
Failure to avoid a fall through the $1,586 pivot would bring the 23.6% FIB of $1,579 and the first major support level at $1,550 into play.
Barring another extended sell-off, however, Ethereum should steer clear of $1,500 levels. The second major support level at $1,512 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1,550
Pivot Level: $1,586
First Major Resistance Level: $1,623
23.6% FIB Retracement Level: $1,579
38.2% FIB Retracement Level: $1,292
62% FIB Retracement Level: $830
Litecoin
Litecoin fell by 2.54% on Thursday. Following on from a 5.33% slide on Wednesday, Litecoin ended the day at $171.48.
A mixed start to the day saw Litecoin rise to an early morning intraday high $178.24 before hitting reverse.
Falling short of the first major resistance level at $191, Litecoin slid to a mid-day intraday low $167.78.
Steering clear of the first major support level at $167, Litecoin revisited $175 levels before easing back.
At the time of writing, Litecoin was up by 1.08% to $173.34. A bullish start to the day saw Litecoin rise from an early morning low $171.47 to a high $173.39.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall back through the $173 pivot level to support a run at the first major resistance level at $177.
Support from the broader market would be needed, however, for Litecoin to break out from $175 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $178.24 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $190 before any pullback. The second major resistance level sits at $183.
Failure to move through the $173 pivot level would bring the first major support level at $167 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$160 levels.
The 38.2% FIB of $163 and the second major support level at $162 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $167
Pivot Level: $173
First Major Resistance Level: $177
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP
Ripple’s XRP rallied by 6.66% on Thursday. Partially reversing a 12.77% tumble from Wednesday, Ripple’s XRP ended the day at $0.51231.
A bearish start saw Ripple’s XRP slide to an early morning intraday low $0.45701 before making a move.
While steering clear of the first major support level at $0.4341, Ripple’s XRP fell through the 38.2% FIB of $0.4632.
Finding early morning support, however, Ripple’s XRP rallied to a late intraday high $0.52400.
In spite of the rebound, Ripple’s XRP fell short of the 23.6% FIB of $0.5320 and the first major resistance level at $0.5435.
The recovery did see Ripple’s XRP break back through the 38.2% FIB of $0.4632, however, to end the day at $0.51 levels.
At the time of writing, Ripple’s XRP was up by 2.66% to $0.52595. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.51053 to a high $0.52842.
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 $0.4978 pivot level to bring 23.6% FIB of $0.5320 and the first major resistance level at $0.5385 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.53 levels.
Barring an extended crypto rally, the 23.6% FIB and first major resistance level would cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.58 levels before any pullback. The second major resistance level sits at $0.5648.
Failure to avoid a fall through the $0.4978 pivot would bring the first major support level at $0.4715 and the 38.2% FIB of $0.4632 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.45 levels. The second major support level sits at $0.4308.
Looking at the Technical Indicators
First Major Support Level: $0.4715
Pivot Level: $0.4978
First Major resistance Level: $0.5385
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