It's a bearish start to the day for the majors. Failure to move through the day's pivot levels would leave support levels in play.
Ethereum fell by 3.56% on Tuesday. Following on from Monday’s 13.25% tumble, Ethereum ended the day at $1,049.79.
It was a choppy day. Ethereum fell to an early morning low $1,040.00 before finding support.
While steering clear of the first major support level at $909.11, Ethereum fell through the 23.6% FIB of $1,051.
Finding early morning support, Ethereum struck a mid-morning intraday high $1,150.00 before hitting reverse.
While falling short of the first major resistance level at $1,264, Ethereum broke back through the 23.6% FIB.
The reversal, however, saw Ethereum slide to an early afternoon intraday low $1,006.83.
Ethereum fell back through the 23.6% FIB of $1,051 before revisiting $1,100 levels.
A bearish end to the day, however, saw Ethereum slide back through the 23.6% FIB to end the day at sub-$1,050 levels.
At the time of writing, Ethereum was down by 1.62% to $1,032.83. A bearish start to the day saw Ethereum fall from an early morning high $1,050.46 to a low $1,027.00.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through the 23.6% FIB and the pivot level at $1,069 to support a run at the first major resistance level at $1,131.
Support from the broader market would be needed, however, for Ethereum to break back through to $1,100 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1,150.00 would likely cap any upside.
In the event of an extended crypto rally, Ethereum could test resistance at $1,250 before any pullback. The second major resistance level sits at $1,212.
Failure to move through the 23.6% FIB and the $1,069 pivot would bring the first major support level at $988 into play.
Barring another extended sell-off, however, Ethereum should steer well clear of sub-$900 levels. The second major support level at $926 should limit the downside.
First Major Support Level: $988
Pivot Level: $1,069
First Major Resistance Level: $1,131
23.6% FIB Retracement Level: $1,051
38.2% FIB Retracement Level: $866
62% FIB Retracement Level: $566
Litecoin fell by 4.28% on Tuesday. Following on from an 18.09% slump on Monday. Litecoin ended the day at $133.39.
A mixed start to the day saw Litecoin rise to a mid-morning intraday high $146.88 before hitting reverse.
While falling short of the first major resistance level at $170.00, Litecoin came within range of the 23.6% FIB of 148.
The reversal saw Litecoin slide to an early afternoon intraday low $128.00.
Steering clear of the 38.2% FIB of $125 and the first major support level at $110, Litecoin revisited $141 levels.
A bearish end to the day, however, saw Litecoin slide back to end the day at $133 levels.
At the time of writing, Litecoin was down by 1.68% to $131.15. A bearish start to the day saw Litecoin fall from an early morning high $133.36 to a low $130.79.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to move through the $136 pivot level to support a run at the first major resistance level at $144.
Support from the broader market would be needed, however, for Litecoin to break back through to $140 levels.
Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $148 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at the second major resistance level at $155.
Failure to move through the $136 pivot level would bring the 38.2% FIB of $125 and the first major support level at $125 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$120 levels and the second major support level at $117. The 38.2% FIB of $125 and first major support level should limit the downside.
First Major Support Level: $125
Pivot Level: $136
First Major Resistance Level: $144
23.6% FIB Retracement Level: $148
38.2% FIB Retracement Level: $125
62% FIB Retracement Level: $87
Ripple’s XRP rose by 1.66% on Tuesday. Partially reversing an 8.63% slide on Monday, Ripple’s XRP ended the day at $0.29251.
It was a bearish start to the day. Ripple’s XRP fell to an early morning low $0.27945 before making a move.
Steering clear of the first major support level at $0.2555, Ripple’s XRP struck an early morning intraday high $0.3100.
Falling short of the first major resistance level at $0.3180, Ripple’s XRP slid to an early afternoon intraday low $0.2775.
Steering clear of the major support levels once more, Ripple’s XRP revisited $0.30 levels before easing back.
At the time of writing, Ripple’s XRP was down by 1.15% to $0.28916. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.2925 to a low $0.2877.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move through the $0.2933 pivot level to bring the first major resistance level at $0.3092 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.
Barring another extended crypto rally, the first major resistance and Tuesday’s high $0.3100 would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at the 23.6% FIB of $0.3172 and resistance at $0.32. The second major resistance sits at $0.3258.
Failure to move through the $0.2933 pivot would bring the first major support level at $0.2767 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.25 levels. The second major support level at $0.2608 should limit the downside.
First Major Support Level: $0.2767
Pivot Level: $0.2933
First Major Resistance Level: $0.3092
23.6% FIB Retracement Level: $0.6274
38.2% FIB Retracement Level: $0.5285
62% FIB Retracement Level: $0.3687
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.