[ad_1]
Ethereum
Ethereum slid 3.25% on Monday. After a 1.48% drop on Sunday, Ethereum ended the day at $ 393.12.
A bullish start to the day saw Ethereum rise to a morning intraday high $ 411.7 before reversing.
Failing to reach the first major resistance level at $ 415.24, Ethereum slipped to an afternoon intraday low $ 382.21.
Ethereum broke through the first major support level at $ 400.30 and the second major support level at $ 394.14.
Avoiding levels below $ 380, Ethereum broke through the second major support level before ending the day at $ 393.
At the time of writing, Ethereum was up 0.16% to $ 393.75. A mixed start to the day saw Ethereum drop to a morning low of $ 392.91 before climbing to a high of $ 393.78.
Ethereum left the major support and resistance levels untested in the beginning.
For the day ahead
Ethereum should break above the $ 395.60 pivot to support a run at the first major resistance level at $ 408.99.
However, broader market support would be required for Ethereum to return to $ 400 levels.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of a breakout, Ethereum could test the resistance at $ 410 before any pullback. The second major resistance level is found at $ 424.86.
Failure to break out of the pivot of $ 395.60 would bring the first major support level at $ 379.73 into play.
Barring another extended sell off, however, Ethereum is expected to avoid the 38.2% FIB of $ 367. The second major support level stands at $ 366.34.
Looking at the technical indicators
First major support level: $ 379.73
Pivot Level: $ 395.60
First major resistance level: $ 408.99
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Litecoin
Litecoin fell 3.38% on Monday. After a 0.62% decline on Sunday, Litecoin ended the day at $ 56.89.
It was a mixed start to the day. Litecoin rose to a morning intraday high $ 59.35 before reversing.
Failing to hit the first major resistance level at $ 60.39, Litecoin slid to an afternoon intraday low $ 55.00.
The sell-off saw Litecoin fall through the first major support level at $ 56.96. Finding support at the second major support level at $ 55.04, Litecoin revisited the $ 57 levels before returning to levels below $ 57.
The partial recovery saw Litecoin briefly return through the first major support level at $ 56.96.
At the time of writing, Litecoin was up 0.21% to $ 57.01. A mixed start to the day saw Litecoin fall to a morning low $ 56.83 before climbing to a high of $ 57.08.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin is expected to break out of the $ 57.08 pivot to support a run at the first major resistance level at $ 59.16.
However, support from the broader market would be needed for Litecoin to rise above $ 58.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of a breakout, Litecoin will likely test the second major resistance level at $ 61.43.
Failure to move to the pivot level of $ 57.08 would bring the first major support level at $ 54.81 and the 23.6% FIB of $ 54 into play.
Barring another extended sell-off later in the day, however, Litecoin should avoid the sub $ 50 levels. The second major support level at $ 52.73 should limit any downside.
Looking at the technical indicators
First major support level: $ 54.81
Pivot level: $ 57.08
First major resistance level: $ 59.16
23.6% FIB Retracement Level: $ 45.30
38.2% FIB Retracement Level: $ 71
62% FIB Retracement Level: $ 100
Ripple’s XRP
Ripple’s XRP fell 1.87% on Monday. After a 1.20% loss on Sunday, Ripple’s XRP ended the day at $ 0.24854.
It was a bullish start to the day. Ripple’s XRP rose to a morning intraday high $ 0.25900 before reversing.
The initial rally saw Ripple’s XRP break through the first major resistance level at $ 0.2566.
However, within the range of the second major resistance level at $ 0.2599, Ripple’s XRP slid to a late afternoon intraday low $ 0.2440.
Ripple’s XRP broke through the first major support level at $ 0.2507 and the second major support level at $ 0.2482.
Finding late support, however, Ripple’s XRP pulled back through the second major support level to end the day at $ 0.2485.
At the time of writing, Ripple’s XRP was down by 0.15% to $ 0.24817. A bearish start to the day saw Ripple’s XRP fall from a morning high of $ 0.24849 to a low of $ 0.24817.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to break above the $ 0.2505 pivot to support a run to the first major resistance level at $ 0.2570.
However, broader market support would be needed for Ripple’s XRP to return to $ 0.25 levels.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of a sustained rally, Ripple’s XRP could test the resistance at $ 0.26 before any pullback. The second major resistance level is found at $ 0.2655.
Failure to break out of the pivot of $ 0.2505 would bring the first major support level at $ 0.2420 into play.
Barring another extended cryptocurrency sell, Ripple’s XRP should avoid the second major support level at $ 0.2355.
Looking at the technical indicators
First major support level: $ 0.2420
Pivot Level: $ 0.2505
First major resistance level: $ 0.2570
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
