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Ethereum
Ethereum fell 1.48% on Sunday. Reversing a 0.74% gain from Saturday, Ethereum ended the week up 7.37% at $ 406.46.
A bullish start to the day saw Ethereum rise to a morning intraday high $ 417.86 before reversing.
Ethereum broke through the first major resistance level at $ 417.25 before sliding to an afternoon intraday low $ 402.92.
After breaking through the first major support level at $ 407.65, Ethereum found support to end the day at $ 406.
The second major support level at $ 402.73 limited the day’s downside.
At the time of writing, Ethereum was down 0.37% to $ 404.94. A bearish start to the day saw Ethereum fall from a morning high of $ 406.60 to a low of $ 404.34.
Ethereum left the major support and resistance levels untested in the beginning.
For the day ahead
Ethereum is expected to break above the $ 409.08 pivot to support a run at the first major resistance level at $ 415.24.
However, support from the broader market would be needed for Ethereum to return to the $ 415 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 resistance at $ 420 before any pullback. The second major resistance level is found at $ 424.02.
Failure to break out of the pivot of $ 409.08 would bring the first major support level at $ 400.30 into play.
Barring another extended sell-off, however, Ethereum should avoid the second major support level at $ 394.14.
Looking at the technical indicators
First major support level: $ 400.30
Pivot Level: $ 409.08
First major resistance level: $ 415.24
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Litecoin
Litecoin fell 0.62% on Sunday. Partially reversing a 6.94% rally since Saturday, Litecoin ended the week up 23.73% at $ 58.87.
It was a mixed start to the day. Litecoin fell to a morning intraday low $ 56.56 before moving on.
Avoiding the first major support level at $ 56.25, Litecoin rose to an afternoon intraday high of $ 59.99.
Failing to reach the first major resistance level at $ 61.01, Litecoin fell to levels below $ 59 and is in the red.
At the time of writing, Litecoin was down 0.54% to $ 58.55. A bearish start to the day saw Litecoin fall from a morning high $ 58.94 to a low $ 58.51.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin should avoid a fall through the $ 58.47 pivot to support a run at the first major resistance level at $ 60.39.
However, support from the broader market would be needed for Litecoin to break out of Sunday’s $ 59.99 high.
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 $ 61.90.
Failure to avoid a fall through the $ 58.47 pivot level would bring the first major support level at $ 56.96 into play.
Barring a prolonged sell-off later in the day, however, Litecoin should avoid sub-$ 55 levels. The second major support level at $ 55.04 should limit any downside.
Looking at the technical indicators
First major support level: $ 56.96
Pivot Level: $ 58.47
First major resistance level: $ 60.39
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 1.20% on Sunday. Reversing a 0.54% gain from Saturday, Ripple’s XRP ended the week up 4.52% at $ 0.25323.
It was a mixed start to the day. Ripple’s XRP rose to a morning intraday high $ 0.25738 before reversing.
Failing to reach the first major resistance level at $ 0.2583, Ripple’s XRP fell to a mid-morning intraday low $ 0.25151.
Ripple’s XRP broke through the first major support level at $ 0.2535 before finding support. A recovery to $ 02530 levels limited the day’s downside. However, the first major support level stalled Ripple’s XRP towards the end of the day.
At the time of writing, Ripple’s XRP was down by 0.05% to $ 0.25310. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.25341 before falling to a low $ 0.25309.
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 $ 0.2540 pivot to support a run to the first major resistance level at $ 0.2566.
However, broader market support would be needed for Ripple’s XRP to break out of the $ 0.2550 levels.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of a sustained rally, the second major resistance level at $ 0.2599 would likely come into play.
Failure to break out of the pivot of $ 0.2540 would bring the first major support level at $ 0.2507 into play.
Barring another extended cryptocurrency sell-off, Ripple’s XRP should avoid the second major support level at $ 0.2482.
Looking at the technical indicators
First major support level: $ 0.2507
Pivot Level: $ 0.2540
First major resistance level: $ 0.2566
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
