ether
Ethereum rose 1.07% on Wednesday. After rallying 7.81% on Tuesday, Ethereum ended the day at $ 2,357.21.
A bearish start to the day caused Ethereum to hit a late morning intraday low of $ 2,237.02 before moving.
Ethereum stayed away from the first major support level at $ 2,141, hitting an intraday high of $ 2,471.72 in the late afternoon.
Ethereum broke first major resistance level at $ 2,437 before falling back to end the day below $ 2,400.
At the time of writing, Ethereum was down 0.43% to $ 2,347.01. On a mixed start to the day, Ethereum rose to an early morning high of $ 2,379.26 before falling to a low of $ 2,317.25.
Ethereum left key support and resistance levels untested early on.
For the next day
Ethereum would have to return through the pivot level at $ 2,355 to support a run at the first major resistance level at $ 2,474.
However, support from the broader market would be required for Ethereum to break out of the $ 2,450 level.
Aside from an extended crypto rally, Wednesday’s first major resistance level and high of $ 2,471.72 would likely limit an uptrend.
In the event of a breakout, Ethereum could test resistance at last week’s new swing at $ 2,548.0 and resistance at $ 2,600. The second major resistance level is at $ 2,590.
When you fail to go through the $ 2,355 pivot, the first major support level of $ 2,239 is brought into play.
However, subject to another extended sell-off, Ethereum should stay away from the 23.6% FIB of $ 1,966. The second major support level at $ 2,121 should limit the downtrend.
Look at the technical indicators
First major support level: $ 2,239
Pivot Level: USD 2,355
First major resistance level: $ 2,474
23.6% FIB Retracement Level: $ 1,966
38.2% FIB Retracement Level: $ 1,606
62% FIB Retracement Level: USD 1,023
Litecoin
Litecoin fell 1.18% on Wednesday. After falling 0.26% from Tuesday, Litecoin ended the day at $ 257.78.
On a mixed start to the day, Litecoin fell to a late morning intraday low of $ 251.17 before moving.
The story goes on
Litecoin stayed out of the first major support level at $ 238, hitting an intraday high of $ 276.97 in the late afternoon.
While Litecoin missed the first major resistance level at $ 280, it broke the 23.6% FIB of $ 262.
However, a bearish end to the day caused Litecoin to fall back through the 23.6% FIB and end the day below $ 260.
At the time of writing, Litecoin was down 0.66% to $ 256.09. On a mixed start to the day, Litecoin rose to an early morning high of $ 260.89 before falling to a low of $ 252.45.
Litecoin left key support and resistance levels untested early on.
For the next day
Litecoin would have to move through the $ 262 pivot level and the 23.6% FIB of $ 262 to support a run at the first major resistance level of $ 273.
However, support from the broader market would be required for Litecoin to move back to $ 270 levels.
Aside from an extended crypto rally, Wednesday’s first major resistance level and high of $ 276.97 would likely limit an uptrend.
In the event of a rebound, Litecoin could test the resistance at $ 300. The second major resistance level is at $ 288.
If the pivot level of $ 262 and the 23.6% FIB of $ 262 are not reached, the first major support level of $ 247 is brought into play.
Subject to another lengthy sell-off, Litecoin should stay away from the second major support level at $ 236.
Look at the technical indicators
First major support level: $ 247
Pivot Level: $ 262
First major resistance level: $ 273
23.6% FIB Retracement Level: $ 250
38.2% FIB Retracement Level: $ 207
62% FIB Retracement Level: 138 USD
Ripple’s XRP
Ripple’s XRP fell 6.95% on Wednesday. Ripple’s XRP ended the day up 5.76% from Tuesday at $ 1.29017.
A bullish start to the day caused Ripple’s XRP to soar to an early morning intraday high of $ 1.46406 before hitting reverse.
Ripple’s XRP missed the first major resistance level of $ 1.4980 and fell to a late morning intraday low of $ 1.28153.
Ripple’s XRP stayed away from the FIB 38.2% of $ 1.2807 and the first major support level of $ 1.2235 and hit $ 1.41 again before falling back into deep red.
At the time of writing, Ripple’s XRP was up 0.44% to $ 1.29580. On a mixed start to the day, Ripple’s XRP fell to an early morning low of $ 1.26656 before rising to a high of $ 1.30498.
While key support and resistance levels were untested early on, Ripple’s XRP fell briefly through the 38.2% FIB of $ 1.2807.
For the next day
Ripple’s XRP needs to move through the $ 1.3453 pivot level to bring the first major resistance level into play at $ 1.4090.
However, support from the broader market would be required for Ripple’s XRP to climb back to $ 1.40.
Aside from an extended crypto rally, Wednesday’s first major resistance level and $ 1.46406 high would likely limit an uptrend.
In the event of a longer rally, Ripple’s XRP could test resistance at 23.6% FIB of $ 1.5426. The second major resistance level is at $ 1.5278.
Failure to go through the $ 1.3453 pivot brings into play the 38.2% FIB of $ 1.2807 and the first major support level of $ 1.2264.
However, subject to another lengthy sell-off, Ripple’s XRP should stay away from levels below $ 1.20. The second major support level is at $ 1.1627.
Look at the technical indicators
First major support level: $ 1.2264
Pivot Level: $ 1,3453
First major resistance level: $ 1.4090
23.6% FIB Retracement Level: $ 1.5426
38.2% FIB Retracement Level: $ 1.2807
62% FIB Retracement Level: $ 0.8573
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally published on FX Empire
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