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Ethereum
Ethereum rallied by 11.55% on Thursday. Partially reversing a 27.63% tumble from Wednesday, Ethereum ended the day at $2,775.07.
A mixed start to the day saw Ethereum fall to an early morning intraday low $2,156.00 before making a move.
Steering clear of the first major support level at $1,748, Ethereum rallied to an early afternoon intraday high $2,999.99.
While falling short of the first major resistance level at $3,293, Ethereum broke back through the 38.2% FIB of $2,740.
A late afternoon pullback saw Ethereum briefly fall back through the 38.2% FIB before ending the day at $2,770 levels.
At the time of writing, Ethereum was up by 0.81% to $2,797.54. A mixed start to the day saw Ethereum fall to an early morning low $2,768.57 before rising to a high $2,833.60.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the 38.2% FIB of $2,740 and the $2,644 pivot to bring the first major resistance level at $3,131 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 any upside.
In the event of another broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369 and resistance at $3,500. The second major resistance level sits at $3,488.
Failure to avoid a fall through the 38.2% FIB and the $2,644 pivot would bring the first major support level at $2,287 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level sits at $1,800.
Looking at the Technical Indicators
First Major Support Level: $2,287
Pivot Level: $2,644
First Major Resistance Level: $3,131
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rallied by 13.10% on Thursday. Partially reversing a 36.54% slump from Wednesday, Litecoin ended the day at $211.11.
A mixed start to the day saw Litecoin fall to an early morning intraday low $166.95 before making a move.
While steering clear of the first major support level at $122, Litecoin briefly fell through the 62% FIB of $165.
Finding early morning support, however, Litecoin rallied to an early afternoon intraday high $232.99.
Falling short of the 38.2% FIB of $265 and the first major resistance level at $276, Litecoin fell back to sub-$200 levels before ending the day at $211 levels.
At the time of writing, Litecoin was up by 0.83% to $212.87. A mixed start to the day saw Litecoin fall to an early morning low $210.72 before rising to a high $215.34.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $204 pivot to bring the first major resistance level at $240 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $232.99.
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 the 38.2% FIB of $265. The second major resistance level sits at $270.
Failure to avoid the $204 pivot would bring the 62% FIB of $174 and the first major support level at $174 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $138.
Looking at the Technical Indicators
First Major Support Level: $174
Pivot Level: $204
First Major Resistance Level: $240
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP rallied by 11.42% on Thursday. Partially reversing Wednesday’s 33.23% tumble, Ripple’s XRP ended the day $1.18153.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.93300 before making a move.
Steering clear of the first major support level at $0.8668, Ripple’s XRP rallied to an early afternoon intraday high $1.26853.
Falling short of the 38.2% FIB of $1.2807 and the first major resistance level at $1.4509, Ripple’s XRP fell back to end the day at sub-$1.20 levels.
At the time of writing, Ripple’s XRP was up by 1.44% to $1.19850. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.18164 to a high $1.20799.
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 $1.1277 pivot to bring the 38.2% FIB of $1.2807 and the first major resistance level at $1.3224 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.30 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $1.50 levels. The second major resistance level sits at $1.4632.
Failure to avoid the $1.1277 pivot would bring the first major support level at $0.9868 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 62% FIB of $0.8573. The second major support level sits at $0.7922.
Looking at the Technical Indicators
First Major Support Level: $0.9868
Pivot Level: $1.1277
First Major resistance Level: $1.3224
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 posted on FX Empire
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