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Ethereum
Ethereum slid by 9.04% on Friday. Reversing a 1.04% gain from Thursday, Ethereum ended the day at $1,809.07.
A mixed start to the day saw Ethereum rise to an early morning intraday high $2,019.39 before hitting reverse.
Falling short of the first major resistance level at $2,055, Ethereum slid to a mid-afternoon intraday low $1,792.00.
The sell-off saw Ethereum fall through the first major support level at $1,904 and the second major support level at $1,819.
Steering clear of the 62% FIB of $1,725, Ethereum briefly broke back through the second major support level before ending the day at sub-$1,810 levels.
At the time of writing, Ethereum was down by 0.21% to $1,805.22. A mixed start to the day saw Ethereum rise to an early morning high $1,818.24 before falling to a low $1,799.51.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $1,874 pivot to bring the first major resistance level at $1,955 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $1,900 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $2,019.39 would likely cap any upside.
In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,200. The second major resistance level sits at $2,101.
Failure to move through the $1,874 pivot would bring the first major support level at $1,728 and the 62% FIB of $1,725 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,646.
Looking at the Technical Indicators
First Major Support Level: $1,728
Pivot Level: $1,874
First Major Resistance Level: $1,955
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin slid by 7.09% on Friday. Reversing a 4.11% gain from Thursday, Litecoin ended the day at $125.0.
Tracking the broader market, Litecoin rose to an early morning intraday high $138.45 before hitting reverse.
Falling short of the first major resistance level at $140, Litecoin slid to a late intraday low $124.34.
The extended sell-off saw Litecoin fall through the first major support level at $126.4 before finding support.
Litecoin briefly broke back through the first major support level before ending the day at $125 levels.
At the time of writing, Litecoin was down by 0.44% to $124.45. A mixed start to the day saw Litecoin rise to an early morning high $125.46 before falling to a low $124.00.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $129 pivot to bring the first major resistance level at $134 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $130 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $138.45 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $143.
Failure to move through the $129 pivot would bring the first major support level at $120 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$110 levels. The second major support level at $115 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $120
Pivot Level: $129
First Major Resistance Level: $134
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP slid by 9.39% on Friday. Reversing a 4.65% gain from Thursday, Ripple’s XRP ended the day at $0.61128.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.68823 before hitting reverse.
Falling short of the first major resistance level at $0.7026, Ripple’s XRP slid to a late intraday low $0.60234.
Ripple’s XRP fell through the first major support level at $0.6271 to end the day at $0.61 levels.
At the time of writing, Ripple’s XRP was down by 0.73% to $0.60683. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.61262 before falling to a low $0.60544.
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 $0.6340 pivot to bring the first major resistance level at $0.6656 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.65 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $0.68823 would likely cap any upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.75. The second major resistance level sits at $0.7198.
Failure to move through the $0.6340 pivot would bring the first major support level at $0.5797 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.55 levels. The second major support level sits at $0.5481.
Looking at the Technical Indicators
First Major Support Level: $0.5797
Pivot Level: $0.6340
First Major resistance Level: $0.6656
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
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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