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Ethereum
Ethereum rallied 8.16% on Friday. Reversing a 1.48% loss since Thursday, Ethereum ended the day at $ 510.43.
It was another mixed start to the day. Ethereum fell to a morning intraday low $ 471.07 before making a move.
Avoiding the first major support level at $ 464.40, Ethereum hit a late afternoon intraday high $ 514.73.
Ethereum broke through major resistance levels before a brief return to levels below $ 505.
The pullback saw Ethereum fall through the third major resistance level at $ 504.32 before ending the day at $ 510.
At the time of writing, Ethereum was up 1.39% to $ 517.53. A bullish start to the day saw Ethereum rise from a morning low $ 510.26 to a high $ 518.92.
Ethereum left the major support and resistance levels untested in the beginning.
For the day ahead
Ethereum should avoid a fall through the pivot level at $ 498.74 to support a run at the first major resistance level at $ 526.42.
However, support from the broader market would be needed for Ethereum to hit the $ 520 levels.
Barring an extended cryptocurrency rally, the first major resistance and resistance level at $ 530 would likely limit any upside.
In the event of another breakout, Ethereum could test the second major resistance level at $ 542.4 and the 62% FIB of $ 543.0.
Failure to avoid a fall through the pivot of $ 498.74 would bring the first major support level at $ 482.76 into play.
Barring another extended sell-off, however, Ethereum should avoid levels below $ 480. The second major support level is found at $ 455.08.
Looking at the technical indicators
First major support level: $ 482.76
Pivot Level: $ 498.74
First major resistance level: $ 526.42
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Litecoin
Litecoin was up 1.25% on Friday. After an 11.09% rise on Thursday, Litecoin ended the day at $ 82.6.
It was a mixed start to the day. Litecoin fell to a morning intraday low $ 80.17 before making a move
Avoiding the first major support level at $ 74.28, Litecoin hit an afternoon intraday high $ 85.92.
Failing to hit the first major resistance level at $ 86.25, Litecoin pulled back to end the day at $ 82.
At the time of writing, Litecoin was up 1.26% to $ 83.70. A bullish start to the day saw Litecoin rise from a morning low $ 82.60 to a high $ 85.39.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin is expected to cross the $ 82.92 pivot to support a run at the first major resistance level at $ 85.66.
However, support from the broader market would be needed for Litecoin to return to $ 85 levels.
Barring another extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of another sustained breakout, Litecoin will likely test the second major resistance level at $ 88.67.
Failure to break out of the $ 82.92 rotation level would bring the first major support level at $ 79.91 into play.
Barring an extended sell-off later in the day, however, Litecoin should avoid the second major support level at $ 77.17.
Looking at the technical indicators
First major support level: $ 79.91
Pivot Level: $ 82.92
First major resistance level: $ 85.66
23.6% FIB Retracement Level: $ 45.30
38.2% FIB Retracement Level: $ 71
62% FIB Retracement Level: $ 100
Ripple’s XRP
Ripple’s XRP was up 8.71% on Friday. After a 3.42% rally on Thursday, Ripple’s XRP ended the day at $ 0.33041.
It was a mixed start to the day. Ripple’s XRP fell to a morning intraday low $ 0.29727 before moving on.
Avoiding the first major support level at $ 0.2898, however, Ripple’s XRP rose to a last-hour intraday high $ 0.33113.
Ripple’s XRP broke through the first major resistance level at $ 0.3125 and the second major resistance level at $ 0.3210.
At the time of writing, Ripple’s XRP was up 3.43% to $ 0.34175. A bullish start to the day saw Ripple’s XRP rise from a morning low $ 0.32997 to a high $ 0.34410
Ripple’s XRP broke through the first major resistance level at $ 0.3419.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $ 0.3196 pivot level to support another run to the first major resistance level at $ 0.3419.
However, broader market support would be required for Ripple’s XRP to maintain $ 0.34 levels.
Barring an extended cryptocurrency rally, the first major resistance level and morning high $ 0.34410 would likely limit any upside.
In the event of another prolonged rally, Ripple’s XRP could test the resistance at $ 0.35 before any pullback. The second major resistance level is found at $ 0.3535.
Failure to avoid a fall through the $ 0.3196 pivot would bring the first major support level at $ 0.3081 into play.
Barring an extensive cryptocurrency sell-off, Ripple’s XRP should avoid levels below $ 0.30. The second major support level is found at $ 0.2857.
Looking at the technical indicators
First major support level: $ 0.3081
Pivot Level: $ 0.3196
First major resistance level: $ 0.3419
23.6% FIB Retracement Level: $ 0.3638
38.2% FIB Retracement Level: $ 0.4800
62% FIB Retracement Level: $ 0.6678
Let us know what you think in the comments below.
Thanks, Bob
This article was originally published on FX Empire
