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Ethereum
Ethereum was up 3.22% on Tuesday. Reversing the 3.25% decline from Monday, Ethereum ended the day at $ 405.74.
It was a relatively limited start to the day. Ethereum fell to a morning intraday low $ 390.35 before making a move.
Avoiding the first major support level at $ 379.73, Ethereum reached an intraday high of $ 411.77.
Ethereum broke through the first major resistance level at $ 408.99 before reverting to $ 405 levels.
At the time of writing, Ethereum was down by 0.18% to $ 405.00. A bearish start to the day saw Ethereum drop from a morning high of $ 405.76 to a low of $ 404.55.
Ethereum left the major support and resistance levels untested in the beginning.
For the day ahead
Ethereum should avoid a fall through the $ 402.62 pivot to support a run at the first major resistance level at $ 414.89.
However, support from the broader market would be needed for Ethereum to break out of Tuesday’s high of $ 411.77.
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 second major resistance level at $ 424.04.
Failure to avoid a downside through the $ 402.62 pivot would bring the first major support level at $ 393.47 into play.
Barring another extended sell off, however, Ethereum should avoid the second major support level at $ 381.20.
Looking at the technical indicators
First major support level: $ 393.47
Pivot Level: $ 402.62
First major resistance level: $ 414.89
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Litecoin
Litecoin was up 2.20% on Tuesday. Partially reversing Monday’s 3.38% decline, Litecoin ended the day at $ 58.14.
It was a mixed start to the day. Litecoin fell to a morning intraday low $ 56.51 before moving on.
Avoiding the first major support level at $ 54.81, Litecoin rose to an afternoon intraday high $ 59.10.
Meeting the first major resistance level at $ 59.16, Litecoin fell to end the day below $ 59 levels.
At the time of writing, Litecoin was down by 0.46% to $ 57.87. A bearish start to the day saw Litecoin fall from a morning high $ 58.24 to a low $ 57.06.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin is expected to move back through the $ 57.92 pivot to support a run at the first major resistance level at $ 59.32.
However, support from the broader market would be needed for Litecoin to break out of Tuesday’s high of $ 59.10.
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 $ 60.51.
Failure to return to the pivot level of $ 57.92 would bring the first major support level at $ 56.73 into play.
Barring an extended sell-off later in the day, however, Litecoin should avoid sub $ 55 levels. The second major support level at $ 55.33 should limit any downside.
Looking at the technical indicators
First major support level: $ 56.73
Pivot Level: $ 57.92
First major resistance level: $ 59.32
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 1.72% on Tuesday. Reversing a 1.87% decline from Monday, Ripple’s XRP ended the day at $ 0.25277.
It was a mixed start to the day. Ripple’s XRP fell to a morning intraday low $ 0.24796 before moving on.
Avoiding the first major support level at $ 0.2420, Ripple’s XRP climbed to a late afternoon intraday high $ 0.25420.
Failing to hit the first major resistance level at $ 0.2570, Ripple’s XRP fell to end the day at $ 0.2520 levels.
At the time of writing, Ripple’s XRP was down by 0.12% to $ 0.25246. A bearish start to the day saw Ripple’s XRP drop from a morning high $ 0.25279 to a low of $ 0.25246.
Ripple’s XRP left major support and resistance levels untested at the start.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $ 0.2516 pivot to support a run at the first major resistance level at $ 0.2553.
However, support from the broader market would be needed for Ripple’s XRP to break out of Tuesday’s high of $ 0.25420.
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 $ 0.2579.
Failure to avoid a fall through the $ 0.2516 pivot would bring the first major support level at $ 0.2491 into play.
Barring another extended cryptocurrency sell-off, Ripple’s XRP should avoid the second major support level at $ 0.2454.
Looking at the technical indicators
First major support level: $ 0.2491
Pivot Level: $ 0.2516
First major resistance level: $ 0.2553
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
