Ethereum
Ethereum rose by 1.82% on Wednesday. Partially reversing a 4.55% loss from Tuesday, Ethereum ended the day at $3,228.51.
A mixed start to the day saw Ethereum fall to a mid-morning intraday low $3,079.92 before making a move.
Ethereum fell through the first major support level at $3,083 before rallying to a late afternoon intraday high $3,249.00.
Falling short of the first major resistance level at $3,310, however, Ethereum slipped back to sub-$3,200 levels before ending the day at $3,220 levels.
At the time of writing, Ethereum was up by 0.03% to $3,229.63. A mixed start to the day saw Ethereum rise to an early morning high $3,237.47 before falling to a low $3,210.10.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,186 pivot to bring the first major resistance level at $3,292 into play.
Support from the broader market would be needed, however, for Ethereum to break out from $3,250 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $3,300 would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,355.
A fall through the $3,186 pivot would bring the first major support level at $3,123 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level at $3,017 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $3,123
Pivot Level: $3,186
First Major Resistance Level: $3,292
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 2.58% on Wednesday. Partially reversing a 7.18% slide from Tuesday, Litecoin ended the day at $177.87.
A mixed start to the day saw Litecoin fall to a late morning intraday low $169.21 before making a move.
Steering clear of the first major support level at $168, Litecoin rallied to a late afternoon intraday high $178.95.
While falling short of the first major resistance level at $184, Litecoin broke back through the 23.6% FIB of $178.
A late pullback, however, saw Litecoin fall back through the 23.6% FIB to end the day at $177 levels.
At the time of writing, Litecoin was up by 0.37% to $178.52. A mixed start to the day saw Litecoin fall to an early morning low $176.85 before rising to a high $178.69.
While leaving the major support and resistance levels untested early on, Litecoin broke back through the 23.6% FIB of $178.
For the day ahead
Litecoin would need to avoid a fall through the 23.6% FIB and the $175 pivot to bring the first major resistance level at $182 into play.
Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $178.
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 $190 before any pullback. The second major resistance level at sits $185.
A fall through the 23.6% FIB and the $175 pivot would bring the first major support level at $172 into play.
Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $166.
Looking at the Technical Indicators
First Major Support Level: $172
Pivot Level: $175
First Major Resistance Level: $182
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP rose by 3.37% on Wednesday. Partially reversing an 8.63% tumble from Tuesday, Ripple’s XRP ended the day at $1.17400.
A mixed start to the day saw Ripple’s XRP fall to a late morning intraday low $1.10831 before making a move.
Steering clear of the first major support level at $1.0840, Ripple’s XRP rallied to a late afternoon intraday high $1.17773.
Falling short of the first major resistance level at $1.2274, Ripple’s XRP slipped back to end the day at sub-$1.18 levels.
At the time of writing, Ripple’s XRP was up by 0.68% to $0.18200. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.16849 before rising to a high $1.18513.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid the $1.1533 pivot to bring first major resistance level at $1.1984 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $1.18513.
Barring an extended crypto rally, the first major resistance level and resistance at $1.20 would likely cap any upside.
In the event of another breakout, Ripple’s XRP could test resistance at $1.25 before any pullback. The second major resistance level sits at $1.2228.
A fall through the $1.1533 pivot would bring the first major support level at $1.1290 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 38.2% FIB of $1.0659. The second major support level at $1.0839 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.1290
Pivot Level: $1.1533
First Major resistance Level: $1.1984
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
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Thanks, Bob
This article was originally posted on FX Empire