ether
Ethereum fell 2.71% on Tuesday. Ethereum partially reversed a 13.38% rally from Monday, ending the day at $ 2,634.42.
A bullish start to the day caused Ethereum to rally to an early morning intraday high of $ 2,748.00 before turning into reverse.
Against the 38.2% FIB of $ 2,740, Ethereum slid to an intraday low of $ 2,527.88 in the late afternoon.
To bypass the first major support level at $ 2,415, Ethereum moved back to $ 2,600 to limit the downward move.
At the time of writing, Ethereum is down 0.35% to $ 2,625.33. After a mixed start to the day, Ethereum rose to an early morning high of $ 2,649.00 before falling to a low of $ 2,625.33.
Ethereum left key support and resistance levels untested early on.
For the next day
Ethereum would have to move back through the $ 2,637 pivot to bring into play the 38.2% FIB of $ 2,740 and the first major resistance level at $ 2,746.
However, in order for Ethereum to break back to a level of USD 2,700, support from the broader market would be required.
Aside from an extended crypto rally, the 38.2% FIB of $ 2,740 and the first major resistance level would likely limit any uptrend.
In the event of a large-scale crypto rally, Ethereum could test resistance at $ 3,000. The second major resistance level is at $ 2,857.
Failure to return through the $ 2,637 pivot would bring the first major support level into play at $ 2,525.
However, apart from another lengthy sell-off, Ethereum should stay away from under $ 2,400. The second major support level at $ 2,417 should limit the downside.
Look at the technical indicators
First major level of support: $ 2,525
Pivot level: $ 2,637
First major resistance level: $ 2,746
23.6% FIB retracement level: $ 3,369
38.2% FIB retracement level: $ 2,740
62% FIB retracement level: $ 1,725
Litecoin
Litecoin was down 2.70% on Tuesday. Litecoin partially reversed a 10.21% increase from Monday, ending the day at $ 182.98.
A bullish start to the day caused Litecoin to hit an early morning intraday high of $ 193.28 before going into reverse.
The story goes on
Litecoin fell below the first major resistance level of $ 197 and slid to an intraday low of $ 175.98 in the early afternoon.
To bypass the 62% FIB of $ 174 and the first major support level at $ 172, Litecoin hit the $ 185 level before falling again.
At the time of writing, Litecoin is down 0.37% to $ 182.31. After a mixed start to the day, Litecoin rose to an early morning high of $ 184.12 before falling to a low of $ 182.10.
Litecoin left key support and resistance levels untested early on.
For the next day
Litecoin would have to move through the $ 184 pivot to bring into play the first major resistance level at $ 192.
However, for Litecoin to break back to the USD 190 level, support from the broader market would be required.
Aside from an extended crypto rally, the first major resistance level and resistance at $ 200 would likely limit any uptrend.
In the event of a prolonged breakout, Litecoin could test the resistance at $ 210. The second major resistance level is at $ 201.
If you don’t move through the $ 184 pivot, the first major support level at $ 175 and the 62 percent FIB of $ 174 would come into play.
However, apart from a lengthy sell-off, Litecoin should stay away from under $ 170. The second major level of support is at $ 167.
A sustained decline through the 62% FIB of $ 174 would form a short-term downtrend from the May 10 swing to $ 413.91.
Look at the technical indicators
First major support level: $ 175
Pivot level: $ 184
First major resistance level: $ 192
23.6% FIB retracement level: $ 322
38.2% FIB Retracement Level: $ 265
62% FIB retracement level: $ 174
Ripple’s XRP
Ripple’s XRP fell 2.91% on Tuesday. Monday’s 15.12% rally was partially reversed, with Ripple’s XRP ending the day at $ 1.01077.
A bullish start to the day caused Ripple’s XRP to rally to an early morning intraday high of $ 1.09942 before reversing.
Hitting the first major resistance level at $ 1.1011, Ripple’s XRP slid to a late intraday low of $ 0.97312.
To bypass the first major support level at $ 0.9311, Ripple’s XRP moved back to the $ 1.00 level to limit the downward move.
At the time of writing, Ripple’s XRP is down 0.53% to $ 1.00538. A mixed start to the day resulted in Ripple’s XRP rising to an early morning high of $ 1.01888 before falling to a low of $ 1.00433.
Ripple’s XRP left key support and resistance levels untested early on.
For the next day
Ripple’s XRP needs to move through the $ 1.0278 pivot to bring the first major resistance level into play at $ 1.0824.
However, in order for Ripple’s XRP to break out of the $ 1.05 level, it would require support from the broader market.
Aside from an extended crypto rally, the first major resistance level and resistance at $ 1.10 would likely limit any uptrend.
In the event of a lengthy rally, Ripple’s XRP could test resistance at $ 1.20. The second major resistance level is at $ 1.1541.
If the $ 1.0278 pivot is not broken, the first major support level at $ 0.9561 would come into play.
However, aside from another lengthy sell-off, Ripple’s XRP should stay away from below $ 0.90. The second major support level at $ 0.9015 should limit the downside.
A continued decline through the 62% FIB of $ 0.8573 would form a short-term downtrend from April 14th to $ 1.96598.
Look at the technical indicators
First major support level: $ 0.9561
Pivot Level: $ 1.0278
First major resistance level: $ 1.0824
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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