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Ethereum
Ethereum surged by 11.64% on Wednesday. Following a 6.23% rally on Tuesday, Ethereum ended the day at $3,829.39.
A mixed start to the day saw Ethereum fall to an early morning intraday low $3,384.24 before making a move.
Steering clear of the 23.6% FIB of $3,369 and the first major support level at $3,252, Ethereum rallied to a late intraday high $3,843.12.
Ethereum broke through the first major resistance level at $3,548 and the second major resistance level at $3,665 to end the day at $3,800 levels.
At the time of writing, Ethereum was up by 0.97% to $3,792.42. A mixed start to the day saw Ethereum rise to an early morning high $3,838.28 before falling to a low $3,782.18.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,686 pivot to bring the first major resistance level at $3,987 into play.
Support from the broader market would be needed, however, for Ethereum to break through to $3,900 levels.
Barring another extended crypto rally, the first major resistance level and resistance at $4,000 would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $4,145.
A fall through the $3,686 pivot would bring the first major support level at $3,528 into play.
Barring another extended sell-off, however, Ethereum should steer well clear of the second major support level at $3,227. The 23.6% FIB of 3,369 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $3,528
Pivot Level: $3,686
First Major Resistance Level: $3,987
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rallied by 5.40% on Wednesday. Following a 2.50% gain on Tuesday, Litecoin ended the day at $180.86.
A bearish start to the day saw Litecoin fall to an early morning intraday low $168.57 before making a move.
Steering clear of the first major support level at $166, Litecoin rallied to a late intraday high $182.78.
Litecoin broke through the first major resistance level at $176 and the second major resistance level at $181 before easing back.
More significantly, Litecoin broke through the 23.6% FIB at $178 to end the day at $180 levels.
At the time of writing, Litecoin was down by 0.34% to $180.24. A mixed start to the day saw Litecoin fall to an early morning low $179.66 before rising to a high $181.54.
Litecoin left the major support and resistance levels untested early on
For the day ahead
Litecoin would need to avoid the 23.6% FIB of $178 and the $177 pivot to bring the first major resistance level at $186 into play.
Support from the broader market would be needed, however, for Litecoin to break back out from Wednesday’s high $182.78.
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 $200 before any pullback. The second major resistance level at sits $192.
A fall through the 23.6% FIB of $178 and the $177 pivot would bring the first major support level at $172 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $163.
Looking at the Technical Indicators
First Major Support Level: $172
Pivot Level: $177
First Major Resistance Level: $186
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 4.33% on Wednesday. Following a 7.82% rally on Tuesday, Ripple’s XRP ended the day at $1.2377.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.15995 before making a move.
Steering clear of the first major support level at $1.1046, Ripple’s XRP rallied to a late intraday high $1.23600.
In spite of the breakout, however, Ripple’s XRP fell short of the first major resistance level at $1.2556.
At the time of writing, Ripple’s XRP was down by 0.97% to $1.22565. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.23941 before falling to a low $1.22296.
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 $1.2112 pivot to bring first major resistance level at $1.2625 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.25 levels.
Barring an extended crypto rally, the first major resistance level 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 $1.2873.
A fall through the $1.2112 pivot would bring the first major support level at $1.1864 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.10 levels. The second major support level at $1.1352 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.1864
Pivot Level: $1.2112
First Major resistance Level: $1.2625
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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