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Ethereum
Ethereum rallied by 4.58% on Tuesday. Reversing a 3.46% loss from Monday, Ethereum ended the day at $3,436.29.
A mixed start to the day saw Ethereum fall to an early morning intraday low $3,270.74 before making a move.
Steering clear of the first major support level at $3,122, Ethereum rallied to a final hour intraday high $3,439.15.
While falling short of the first major resistance level at $3,440, Ethereum broke through the 23.6% FIB of $3,369 to end the day at $3,430 levels.
At the time of writing, Ethereum was down by 0.13% to $3,431.76. A mixed start to the day saw Ethereum rise to an early morning high $3,452.06 before falling to a low $3,422.90.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,382 pivot to bring the first major resistance level at $3,493 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $3,439.15.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,600 before any pullback. The second major resistance level sits at $3,551.
A fall through the $3,382 pivot would bring the 23.6% FIB of $3,369 and the first major support level at $3,325 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,200 levels. The second major support level at $3,214 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $3,325
Pivot Level: $3,382
First Major Resistance Level: $3,493
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 2.06% on Tuesday. Reversing a 1.99% loss from Monday, Litecoin ended the day at $183.09.
A bearish start to the day saw Litecoin fall to an early morning intraday low $176.21 before making a move.
While steering clear of the major support levels, Litecoin fell through the 23.6% FIB of $178.
Finding late morning support, however, Litecoin rallied to a mid-afternoon intraday high $188.88 before easing back.
While falling well short of the first major resistance level at $221, Litecoin broke back through the 23.6% FIB to end the day at $183 levels.
At the time of writing, Litecoin was down by 0.31% to $182.53. A mixed start to the day saw Litecoin rise to an early morning high $183.42 before falling to a low $182.53.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $183 pivot to bring the first major resistance level at $189 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $185 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $188.88 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $200. The second major resistance level sits at $195.
Failure to move back through the $183 pivot would bring the 23.6% FIB of $178 and the first major support level at $177 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$170. The second major support level at $170 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $177
Pivot Level: $183
First Major Resistance Level: $189
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 3.07% on Tuesday. Partially reversing a 4.95% slide from Monday, Ripple’s XRP ended the day at $1.09682
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.05695 before making a move.
Steering clear of the first major support level at $1.0164, Ripple’s XRP rallied to a final hour intraday high $1.09700.
While falling short of the first major resistance level at $1.1192, Ripple’s XRP broke through the 38.2% FIB of $1.0659 to end the day at $1.09 levels.
At the time of writing, Ripple’s XRP was down by 0.17% to $1.09493. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.09688 before falling to a low $1.09153.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to avoid the $1.0836 pivot to bring first major resistance level at $1.1102 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $1.09700.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.15 levels before any pullback. The second major resistance level sits at $1.1236.
A fall through the $1.0836 pivot would bring the first major support level at $1.0702 and the 38.2% FIB of $1.0659 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level at $1.0435 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.0702
Pivot Level: $1.0836
First Major resistance Level: $1.1102
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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