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Ethereum
Ethereum slid by 7.08% on Tuesday. Following a 10.58% slide on Monday, Ethereum ended the day at $2,765.69.
A choppy start to the day saw Ethereum fall to an early morning low $2,805.00.
Finding support at the first major support level at $2,810, Ethereum rose to a late morning intraday high $3,104.82.
Falling well short of the first major resistance level at $3,245, however, Ethereum slid to a late intraday low $2,651.00.
Ethereum fell through first major support level at $2,810 and the 38.2% FIB of $2,740 before a partial recovery to $2,760 levels.
At the time of writing, Ethereum was up by 0.46% to $2,778.35. A mixed start to the day saw Ethereum fall to an early morning low $2,756.72 before rising to a high $2,791.00.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $2,841 pivot to bring the first major resistance level at $3,030 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $3,000 levels.
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 the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,294.
Failure to move through the $2,841 pivot would bring the 38.2% FIB of $2,740 and the first major support level at $2,576 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,500 levels. The second major support level sits at $2,389.
Looking at the Technical Indicators
First Major Support Level: $2,576
Pivot Level: $2,841
First Major Resistance Level: $3,030
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 5.50% on Tuesday. Following a 10.55% slide on Monday, Litecoin ended the day at $148.52.
After a choppy start to the day, Litecoin rose to a late morning intraday high $162.32 before hitting reverse.
Falling short of the first major resistance level at $171, Litecoin slid to a late intraday low $144.60.
The reversal saw Litecoin fall through the first major support level at $148 before a partial recovery to $148 levels.
At the time of writing, Litecoin was down by 0.16% to $148.28. A mixed start to the day saw Litecoin fall to an early morning low $147.85 before rising to a high $149.35.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $152 pivot to bring the first major resistance level at $159 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $155 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $162.32 would likely cap the upside.
In the event of another breakout, Litecoin could test the second major resistance level at $170.
Failure to move through the $152 pivot would bring the first major support level at $141 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$140. The second major support level sits at $134.
Looking at the Technical Indicators
First Major Support Level: $141
Pivot Level: $152
First Major Resistance Level: $159
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 5.22% on Tuesday. Following a 12.16% tumble on Monday, Ripple’s XRP ended the day at $0.87352.
A bearish start to the day saw Ripple’s XRP fall to an early morning low $0.86287 before making a move.
Steering clear of the 23.6% FIB of $0.8533 and the major support levels, Ripple’s XRP rose to a mid-day intraday high $0.95887.
Falling short of the first major resistance level at $1.0223, Ripple’s XRP slid to a late intraday low $0.85800.
Continuing to steer clear of the 23.6% FIB of $0.8533 and major support levels, however, Ripple’s ended the day at $0.87 levels.
At the time of writing, Ripple’s XRP was up by 0.14% to $0.87471. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.87168 before rising to a high $0.88279.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to move through the $0.8968 pivot to bring the first major resistance level at $0.9356 into play. Support would be needed, however, for Ripple’s XRP to move back through to $0.90 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.95887 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $0.9977.
Failure to move through $0.8968 pivot would bring the 23.6% FIB of $0.8533 and the first major support level at $0.8347 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7959.
Looking at the Technical Indicators
First Major Support Level: $0.8347
Pivot Level: $0.8968
First Major resistance Level: $0.9356
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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