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Ethereum
Ethereum rose by 3.01% on Wednesday. Partially reversing Tuesday’s 11.27% slide, Ethereum ended the day at $1,625.3.
A mixed start to the day saw Ethereum slide to an early morning intraday low $1,500.28 before finding support.
Steering clear of the first major support level at $1,362, Ethereum rallied to late morning intraday high $1,714.00.
While falling short of the first major resistance level at $1,789, Ethereum broke back through the 23.6% FIB of $1,579.
Through the 2nd half of the day, Ethereum briefly fell back through the 23.6% FIB before wrapping up the day at $1,600 levels.
At the time of writing, Ethereum was down by 0.05% to $1,624.49. A mixed start to the day saw Ethereum rise to an early morning high $1,634.99 before falling to a low $1,621.00
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 $1,613 to support a run at the first major resistance level at $1,726.
Support from the broader market would be needed, however, for Ethereum to break out Tuesday’s high $1,714.00.
Barring an extended crypto rally, the first major resistance level and resistance at $1,750 would likely cap any upside.
In the event of a breakout, Ethereum could test the second major resistance level at $1,827 before any pullback.
Failure to avoid a fall through the $1,613 pivot would bring the 23.6% FIB of $1,579 and the first major support level at $1,512 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,500 levels. The second major support level sits at $1,400.
Looking at the Technical Indicators
First Major Support Level: $1,512
Pivot Level: $1,613
First Major Resistance Level: $1,726
23.6% FIB Retracement Level: $1,528
38.2% FIB Retracement Level: $1,251
62% FIB Retracement Level: $804
Litecoin
Litecoin rose by 2.37% on Wednesday. Partially reversing a 14.71% stumble from Tuesday, Litecoin ended the day at $181.70.
It was a bearish start to the day. Litecoin slid to an early morning intraday low $168.89 before making a move.
In spite of the sell-off, Litecoin steered clear of the 38.2% FIB of $163 and the first major support level at $154.55.
Finding support through the morning, Litecoin rose to a mid-day intraday high $189.69.
Falling well short of the 23.6% FIB of $195 and the first major resistance level at $204.79, Litecoin slid back to $172 levels.
A late move back through to $181 levels delivered the upside on the day, however.
At the time of writing, Litecoin was up by 0.02% to $181.74. A mixed start to the day saw Litecoin fall to an early morning low $181.05 before rising to a high $182.17.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $180.09 pivot level to support a run at the first major resistance level at $191.30 and the 23.6% FIB of $195.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $189.69.
Barring an extended crypto rally, the first major resistance level and the 23.6% FIB would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $200.89.
Failure to avoid a fall through the $180.09 pivot level would bring the first major support level at $170.50 into play.
Barring another extended sell-off, Litecoin should steer clear of the 38.2% FIB of $163 and the second major support level at $159.29.
Looking at the Technical Indicators
First Major Support Level: $170.50
Pivot Level: $180.09
First Major Resistance Level: $191.30
23.6% FIB Retracement Level: $191
38.2% FIB Retracement Level: $159
62% FIB Retracement Level: $108
Ripple’s XRP
Ripple’s XRP fell by 0.38% on Wednesday. Following on from a 15.90% slump from Tuesday, Ripple’s XRP ended the day at $0.46923.
A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.45782 before making a move.
While steering clear of the first major support level at $0.3720, Ripple’s XRP fell through the 38.2% FIB of $0.4632.
Finding support through the morning, Ripple’s XRP broke back through the 38.2% FIB to strike an intraday high $0.50044.
Falling well short of the 23.6% FIB of $0.5320 and the first major resistance level at $0.5759, Ripple’s XRP fell back to $0.45 levels.
The pullback saw Ripple’s XRP briefly fall back through the 38.2% FIB before ending the day at $0.469 levels.
At the time of writing, Ripple’s XRP was down by 0.23% to $0.46813. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.47014 before falling to a low $0.46778.
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 $0.4737 pivot level to bring the first major resistance level at $0.4960 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.49 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.050044 should cap any upside.
In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.5228. The 23.6% FIB of $0.5320 would likely cap any upside, however.
Failure to move through the $0.4737 pivot would bring the 38.2% FIB of $0.4632 and the first major support level at $0.4469 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer well clear of the second major support level at $0.4245.
Looking at the Technical Indicators
First Major Support Level: $0.4469
Pivot Level: $0.4737
First Major resistance Level: $0.4960
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire
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