In This Article:
This is the technical analysis for Ethereum (ETH), Litecoin (LTC), and Ripple’s XRP. We will be looking at previous day price action and today’s support, resistance, and pivot levels and, when in play, the Fibonacci’s.
Ethereum (ETH)
Ethereum (ETH) rose by 2.03% on Tuesday. Partially reversing an 8.45% slide from Monday, Ethereum ended the day at $3,861.
A mixed start to the day saw Ethereum fall to a mid-morning intraday low $3,687 before making a move. While steering clear of the first major support level at $3,581, Ethereum fell through the 23.6% FIB of $3,738.
Finding late morning support, Ethereum broke back through the 23.6% FIB to strike a late intraday high $3,884.
Falling short of the first major resistance level at $4,067, however, Ethereum eased back to $3,820 levels before ending the day at $3,860 levels.
At the time of writing, Ethereum was up by 0.04% to $3,862. A mixed start to the day saw Ethereum fall to an early morning low $3,852 before rising to a high $3,874.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,810 pivot to bring the first major resistance level at $3,934 into play. Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $3,884. Barring an extended rally, the first major resistance level should limit the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,100 levels before any pullback. The second major resistance level sits at $4,008.
A fall through the $3,810 pivot would bring the 23.6% FIB of $3,738 and the first major support level at $3,737 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,500 levels. The second major support level at $3,613 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $3,737
Pivot Level: $3,810
First Major Resistance Level: $3,934
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin (LTC) rose by 4.04% on Tuesday. Partially reversing a 9.07% slide from Monday, Litecoin ended the day at $150.50.
Tracking the broader market, Litecoin fell to an early morning intraday low $143.00 before making a move. Steering clear of the first major support level at $138, Litecoin rose to a mid-day intraday high $152.00.
Falling short of the first major resistance level at $156, Litecoin slid back to $145 levels before revisiting $151 levels late in the day.
At the time of writing, Litecoin was down by 0.04% to $150.44. A mixed start to the day saw Litecoin fall to an early morning low $150.08 before rising to a high $150.80.