LTC Looks to Revisit $160 Levels, with ETH and XRP also Finding Early Support
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) fell by 1.59% on Thursday. Partially reversing a 4.17% rally from Wednesday, Ethereum ended the day at $3,957.
After a mixed morning, Ethereum rose to a mid-afternoon intraday high $4,116 before hitting reverse. Falling short of the first major resistance level at $4,198, Ethereum fell to a late intraday low $3,953.
Steering well clear of the first major support level at $3,744 and the 23.6% FIB of $3,738, however, Ethereum ended the day at $3,950 levels.
At the time of writing, Ethereum was up by 0.38% to $3,972. A mixed start to the day saw Ethereum fall to an early morning low $3,931 before rising to a high $3,972.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $4,009 pivot to bring the first major resistance level at $4,065 into play. Support from the broader market would be needed, however, for Ethereum to break out from $4,050 levels. Barring an extended rally, the first major resistance level and Thursday’s high $4,116 should limit the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,300 levels before any pullback. The second major resistance level sits at $4,172.
Failure to move through the $4,009 pivot would bring the first major support level at $3,901 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,800 levels. The second major support level at $3,845 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $3,901
Pivot Level: $4,009
First Major Resistance Level: $4,065
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin (LTC) fell by 3.14% on Thursday. Reversing a 2.13% gain from Wednesday, Litecoin ended the day at $148.79.
Following a mixed start to the day, Litecoin rose to a late morning intraday high $156.72 before hitting reverse. Falling short of the first major resistance level at $159, Litecoin slid to a late intraday low $148.54.
Steering clear of the first major support level at $145, however, Litecoin ended the day at $148 levels.
At the time of writing, Litecoin was up by 0.21% to $149.10. A mixed start to the day saw Litecoin fall to an early morning low $148.12 before rising to a high $149.37.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $151 pivot to bring the first major resistance level at $154 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $153 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $156.72 would likely cap the upside. In the event of an extended rally, Litecoin could test the second major resistance level at $160.
Failure to move through the $151 pivot would bring the first major support level at $146 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$145 levels. The second major support level sits at $143.
Looking at the Technical Indicators
First Major Support Level: $146
Pivot Level: $151
First Major Resistance Level: $154
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 2.62% on Thursday. Reversing a 2.01% loss from Wednesday, Ripple’s XRP ended the day at $0.80485.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.83627 before hitting reverse. Falling short of the first major resistance level at $0.8514, Ripple’s XRP slid to a late intraday low $0.80452.
Steering clear of the first major support level at $0.7903, Ripple’s XRP ended the day at $0.804 levels.
At the time of writing, Ripple’s XRP was up by 0.44% to $0.80843. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.80303 before rising to a high $0.80843.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to move through the $0.8152 pivot to bring the first major resistance level at $0.8259 into play.
Support would be needed, however, for Ripple’s XRP to break out from $0.8150 levels. Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.83627 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at the 23.6% FIB of $0.8533 before any pullback. The second major resistance level sits at $0.8470.
Failure to move through the $0.8152 pivot would bring the first major support level at $0.7942 into play. Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.7835.
Looking at the Technical Indicators
First Major Support Level: $0.7942
Pivot Level: $0.8152
First Major resistance Level: $0.8259
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
Daily Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP
This article was originally posted on FX Empire