Ethereum

Ethereum jumped by 10.23% on Wednesday. Following on from a 10.12% rally Tuesday, Ethereum ended the day at $1,668.72.

A mixed start to the day saw Ethereum slip to an early morning intraday low $1,509.48 before making a move.

Steering well clear of the first major support level at $1,400, Ethereum rallied to a late intraday high and a new swing high $1,672.20.

Ethereum broke through the first major resistance level at $1,588 and the second major resistance level at $1,663 to end the day at $1,668 levels.

At the time of writing, Ethereum was up 0.29% to $1,673.63. A mixed start to the day saw Ethereum fall to an early morning low $1,664.08 before rising to a new swing hi $1,680.00.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,617 to support a run at the first major resistance level at $1,724.

Support from the broader market would be needed, however, for Ethereum to break through to $1,700 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another extended crypto rally, Ethereum could test resistance at $1,800 before any pullback. The second major resistance level sits at $1,780.

Failure to avoid a fall through the $1,617 pivot would bring the first major support level at $1,561 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,500 levels. The second major support level sits at $1,454.

Looking at the Technical Indicators

First Major Support Level: $1,561

Pivot Level: $1,617

First Major Resistance Level: $1,724

23.6% FIB Retracement Level: $1,297

38.2% FIB Retracement Level: $1,064

62% FIB Retracement Level: $689

Litecoin

Litecoin rallied by 9.91% on Wednesday. Following on from a 7.65% gain on Tuesday, Litecoin ended the day at $156.20.

It was a bullish day. Litecoin rallied from a start of the day intraday low $142.12 to a final hour intraday high $156.86.

Litecoin broke through the first major resistance level at $148.05 and the second major resistance level at $154.06.

More significantly, Litecoin also broke through the 23.6% FIB of $148 to wrap up the day at $156 levels.

At the time of writing, Litecoin was up by 1.11% to $157.93. A mixed start to the day saw Litecoin slip to an early low $156.05 before striking a high $158.49.

Litecoin left the major support and resistance levels untested early on.

https://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid a fall through the $151.73 pivot level to support a run at the first major resistance level at $161.33.

Support from the broader market would be needed, however, for Litecoin to break through to $160 levels.

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 $170 before any pullback. The second major resistance level sits at $166.47.

Failure to avoid a fall through the $151.73 pivot level would bring the 23.6% FIB of $148 and the first major support level at $146.59 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$145 levels. The second major support level sits at $136.99.

Looking at the Technical Indicators

First Major Support Level: $146.59

Pivot Level: $151.73

First Major Resistance Level: $161.33

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripple’s XRP

Ripple’s XRP rallied by 6.58% on Wednesday. Following on from a 0.34% gain on Tuesday, Ripple’s XRP ended the day at $0.39797.

It was also bullish day for Ripple’s XRP, which avoided a fall into the red.

Ripple’s XRP rose from a start of the day intraday low $0.3734 to a late afternoon intraday high $0.4190 before easing back.

The rally saw Ripple’s XRP break through the 38.2% FIB of $0.4070 and the first major resistance level at $0.4095.

A pullback to $0.383 levels saw Ripple’s XRP fall back through the 38.2% FIB and first major resistance level, however.

Finding late support, Ripple’s XRP moved back through to $0.39 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.56% to $0.39574. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.3990 before falling to a low $0.39500.

Ripple’s XRP left the major support and resistance levels untested early on.

https://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to move back through the $0.3967 pivot level to bring the 38.2% FIB of $0.4070 and the first major resistance level at $0.4202 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.4190.

Barring another 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 $0.45 before any pullback. The second major resistance level sits at $0.4424.

Failure to move back through the $0.3967 pivot would bring the first major support level at $0.3746 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the 23.6% FIB of $0.3172. The second major support level at $0.3512 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3746

Pivot Level: $0.3968

First Major Resistance Level: $0.4202

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

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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