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Ethereum
Ethereum fell by 4.31% on Tuesday. Following a 4.97% slide on Monday, Ethereum ended the day at $3,011.01.
A mixed start to the day saw Ethereum rise to a midday intraday high $3,293.15 before hitting reverse.
Falling short of the first major resistance level at $3,280, Ethereum slid to a late intraday low $2,992.15.
Ethereum fell through the first major support level at $3,074 and the second major support level at $3,001.
Finding late support, however, Ethereum broke back through the second major support level to end the day at $3,011 levels.
At the time of writing, Ethereum was up by 0.42% to $3,023.56. A mixed start to the day saw Ethereum rise to an early morning high $3,046.45 before falling to a low $3,003.69.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through $3,099 pivot to bring the first major resistance level at $3,205 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $3,200 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $3,293.15 would likely cap any upside.
In the event of another broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,400.
Failure to move through the $3,099 pivot would bring the first major support level at $2,904 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,800 levels. The second major support level sits at $2,798.
Looking at the Technical Indicators
First Major Support Level: $2,904
Pivot Level: $3,099
First Major Resistance Level: $3,205
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin slid by 5.28% on Tuesday. Following a 3.69% decline on Monday, Litecoin ended the day at $168.54.
After a choppy start, Litecoin rose to a late morning intraday high $184.45 before hitting reverse.
Falling short of the first major resistance level at $186, Litecoin slid to a late intraday low $168.0.
Litecoin fell through the first major support level at $174 and the second major support level at $170.
More significantly, Litecoin also fell through the 23.6% FIB of $178 before a late partial recovery.
Late in the day, Litecoin briefly revisited $171 levels before ending the day at sub-$169 levels.
At the time of writing, Litecoin was up by 0.27% to $168.99. A mixed start to the day saw Litecoin rise to an early morning high $170.26 before falling to a low $167.23.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $174 pivot to bring 23.6% FIB of $178 and the first major resistance level at $179 into play.
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 Tuesday’s high $184.45 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level at sits $190.
Failure to move through the $174 pivot would bring the first major support level at $163 into play.
Barring an extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $157.
Looking at the Technical Indicators
First Major Support Level: $163
Pivot Level: $174
First Major Resistance Level: $179
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 7.41% on Tuesday. Following a 7.84% tumble on Monday, Ripple’s XRP ended the day at $1.09755.
Tracking the broader market, Ripple’s XRP rose to a late morning intraday high $1.22969 before hitting reverse.
Falling short of the first major resistance level at $1.2953, Ripple’s XRP slid to a late intraday low $1.09535.
Ripple’s XRP fell through the first major support level at $1.1086 to end the day at sub-$1.10 levels.
At the time of writing, Ripple’s XRP was up by 1.50% to $1.11400. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.11698 before falling to a low $1.09432.
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 $1.1409 pivot to bring first major resistance level at $1.1864 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.15 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1.22965 would likely cap any upside.
In the event of another breakout, Ripple’s XRP could test resistance at $1.30 before any pullback. The second major resistance level sits at $1.2752.
Failure to move through the $1.1409 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0521 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level at $1.0066 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.0521
Pivot Level: $1.1409
First Major resistance Level: $1.1864
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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