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Ethereum
Ethereum slid by 5.85% on Friday. Reversing a 0.21% gain from Thursday, Ethereum ended the day at $2,234.47.
A mixed start to the day saw Ethereum rise to an early morning intraday high $2,377.80 before hitting reverse.
Falling short of the first major resistance level at $2,453, Ethereum slid to a late afternoon intraday low $2,125.12.
Ethereum fell through the first major support level at $2,300 and the second major support level at $2,227.
Steering clear of sub-$2,100 support levels, Ethereum moved broke back through the second major support level at $2,227 late in the day.
At the time of writing, Ethereum was up by 0.61% to $2,248.10. A mixed start to the day saw Ethereum fall to an early morning low $2,223.83 before rising to a high $2,248.61.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall back through the $2,246 pivot to bring the first major resistance level at $2,367 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,300 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $2,377.80 would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $2,499.
A fall back through the $2,246 pivot would bring the first major support level at $2,114 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level sits at $1,993.
Looking at the Technical Indicators
First Major Support Level: $2,114
Pivot Level: $2,246
First Major Resistance Level: $2,367
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin slid by 6.44% on Friday. Reversing a 0.36% gain from Thursday, Litecoin ended the day at $156.41.
A mixed start to the day saw Litecoin rise to a mid-morning intraday high $167.39 before hitting reverse.
Falling short of the first major resistance level at $173, Litecoin slid to a late afternoon intraday low $151.11.
Litecoin fell through the first major support level at $162 and the second major support level at $157.
Steering clear of sub-$150, Litecoin ended the day at $156 levels.
At the time of writing, Litecoin was up by 0.50% to $157.19. A mixed start to the day saw Litecoin fall to an early morning low $155.66 before rising to a high $157.20.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $158 pivot to bring the first major resistance level at $166 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $167.39 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at and the 62% FIB of $174. The second major resistance level sits at $175.
Failure to move through the $158 pivot would bring the first major support level at $149 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level at $142 should limit the downside.
A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $149
Pivot Level: $158
First Major Resistance Level: $166
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP fell by 5.33% on Friday. Reversing a 0.89% gain from Thursday, Ripple’s XRP ended the day at $0.79529.
A bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $0.84480 before hitting reverse.
Falling short of the 62% FIB of $0.8573 and the first major resistance level at $0.8600, Ripple’s XRP slid to a late afternoon intraday low $0.77000.
The extended sell-off saw Ripple’s XRP slide through the first major support level at $0.8224 and the second major support level at $0.8041.
Steering clear of the third major support level at $0.7665, Ripple’s XRP ended the day at $0.79 levels.
At the time of writing, Ripple’s XRP was up by 0.43% to $0.79874. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.79436 before rising to a high $0.79929.
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 $0.8034 pivot to bring the first major resistance level at $0.8367 and the 62% FIB of $0.8573 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.85 levels.
Barring an extended crypto rally, Friday’s high $0.8448 and the 62% FIB would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at $0.90. The second major resistance level sits at $0.8782.
Failure to move through the $0.8034 pivot would bring the first major support level at $0.7619 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.70 levels. The second major support level at $0.7286 should limit the downside.
A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.
Looking at the Technical Indicators
First Major Support Level: $0.7619
Pivot Level: $0.8034
First Major resistance Level: $0.8367
23.6% FIB Retracement Level: $1.5426
38.2% FIB Retracement Level: $1.2807
62% FIB Retracement Level: $0.8573
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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