FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Crypto00 567

Ethereum

Ethereum jumped by 11.74% on Wednesday. Reversing a 1.76% loss from Tuesday, Ethereum ended the day at $1,996.18.

Advertisement
Know where Ripple is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,754.27 before making a move.

Steering clear of the 62% FIB of $1,725 and the first major support level at $1,724, Ethereum rallied to a late intraday high $2,033.16.

Ethereum broke through the day’s major resistance levels before easing back to sub-$2,000 levels.

The late pullback saw Ethereum fall back through the third major resistance level at $2,024.

At the time of writing, Ethereum was up by 0.81% to $2,012.42. A mixed start to the day saw Ethereum fall to an early morning low $1,982.11 before rising to a high $2,016.51.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid the $1,928 pivot to bring the first major resistance level at $2,102 into play.

Support from the broader market would be needed, however, for Ethereum to breakout from Wednesday’s high $2,033.16.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could resistance at $2,250 before any pullback. The second major resistance level sits at $2,207.

A fall the $1,928 pivot would bring the first major support level at $1,823 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the 62% FIB of $1,725. The second major support level sits at $1,649.

Looking at the Technical Indicators

First Major Support Level: $1,823

Pivot Level: $1,928

First Major Resistance Level: $2,102

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Advertisement

Litecoin

Litecoin rallied by 9.66% on Wednesday. Reversing a 5.21% slide from Tuesday, Litecoin ended the day at $117.67.

A bearish start to the day saw Litecoin fall to an early morning intraday low $105.08 before making a move.

Steering clear of the first major resistance level at $103, Litecoin rallied to a late intraday high $119.22.

Litecoin broke through the first major resistance level at $114 to end the day at $117 levels. The second major resistance level at $120 pinned Litecoin back late in the day.

At the time of writing, Litecoin was up by 0.48% to $118.24. A mixed start to the day saw Litecoin fall to an early morning low $116.82 before rising to a high $118.36.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to avoid the $114 pivot to bring the first major resistance level at $123 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $119.22.

Barring an extended crypto rally, the first major resistance level and resistance at $125 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $135. The second major resistance level sits at $128.

A fall through the $114 pivot would bring the first major support level at $109 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level at $100 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $109

Pivot Level: $114

First Major Resistance Level: $123

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 7.90% on Wednesday. Reversing a 5.22% slide from Tuesday, Ripple’s XRP ended the day at $0.56956.

A choppy start to the day saw Ripple’s XRP slide to an early morning intraday low $0.52000 before making a move.

Steering clear of the first major support level at $0.5066, Ripple’s XRP rallied to a late intraday high $0.58395.

Ripple’s XRP broke through the first major resistance level at $0.5601 to end the day at $0.569 levels.

At the time of writing, Ripple’s XRP was up by 1.10% to $0.57580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.56750 before rising to a high $0.57664.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to avoid the $0.5578 pivot to bring the first major resistance level at $0.5957 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.5850 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.60 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.63 before any pullback. The second major resistance level sits at $0.6218.

A fall through the $0.5578 pivot would bring the first major support level at $0.5317 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.50 levels. The second major support level sits at $0.4939.

Looking at the Technical Indicators

First Major Support Level: $0.5317

Pivot Level: $0.5578

First Major resistance Level: $0.5957

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker