Ethereum rose by 1.64% on Wednesday. Following a 3.79% gain on Tuesday, Ethereum ended the day at $3,574.86.
A mixed start to the day saw Ethereum slide to a late morning intraday low $3,342.16 before making a move.
Ethereum fell through the first major support level at $3,405 and the 23.6% FIB of $3,369.
Finding late morning support, however, Ethereum rallied to a mid-afternoon intraday high $3,632.44.
Ethereum broke through the first major resistance level at $3,587 ending the day at sub-$3,580 levels.
At the time of writing, Ethereum was down by 0.24% to $3,567.28. A mixed start to the day saw Ethereum rise to an early morning high $3,578.15 before falling to a low $3,553.73.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,517 pivot to bring the first major resistance level at $3,691 play.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $3,632.44.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,000 before any pullback. The second major resistance level sits at $3,807.
A fall through the $3,517 pivot would bring the first major support level at $3,401 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels and the second major support level at $3,226. The 23.6% FIB of $3,369 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $3,401
Pivot Level: $3,517
First Major Resistance Level: $3,691
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 2.70% on Wednesday. Following a 3.71% gain on Tuesday, Litecoin ended the day at $178.50.
A mixed start to the day saw Litecoin fall to a late morning intraday low $163.87 before making a move.
Litecoin fell through the first major support level at $169 before rallying to a late afternoon intraday high $183.03.
Litecoin broke through the first major resistance level at $177 and the second major resistance level at $181.
A late pullback, however, saw Litecoin fall back through the second major resistance level to end the day at $178 levels.
At the time of writing, Litecoin was down by 0.19% to $178.16. A mixed start to the day saw Litecoin rise to an early morning high $179.31 before falling to a low $178.08.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the 23.6% FIB of $178 and the $175 pivot to bring the first major resistance level at $186 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $183.03 levels
Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $194.
A fall through the 23.6% FIB of $178 and the $175 pivot would bring the first major support level at $167 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level sits at $156.
Looking at the Technical Indicators
First Major Support Level: $167
Pivot Level: $175
First Major Resistance Level: $186
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 0.38% on Wednesday. Partially reversing a 3.95% rise from Tuesday, Ripple’s XRP ended the day at $1.07971.
A mixed start to the day saw Ripple’s XRP slide to a late morning intraday low $1.01807 before making a move.
Ripple’s XRP fell through the first major support level at $1.0539 and the second major resistance level at $1.0224.
The sell-off also saw Ripple’s XRP fall through the 38.2% FIB of $1.0659 before rallying to a mid-afternoon intraday high $1.10707.
Coming up against the first major resistance level at $1.1023, however, Ripple’s XRP fell back to end the day at $1.07 levels.
At the time of writing, Ripple’s XRP was down by 0.43% to $1.07508. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.07588 to a low $1.07508.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to avoid the $1.0683 pivot and the 38.2% FIB of $1.0659 to bring the first major resistance level at $1.1185.
Support would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.1023.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.1573.
A fall through the $1.0683 pivot and the 38.2% FIB of $1.0659 would bring the first major support level at $1.0295 into play.
Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level sits at $0.9793.
Looking at the Technical Indicators
First Major Support Level: $1.0295
Pivot Level: $1.0683
First Major resistance Level: $1.1185
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
Please let us know what you think in the comments below.
