FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
crypto currency mining concept

Ethereum

Ethereum slid by 5.85% on Friday. Reversing a 0.21% gain from Thursday, Ethereum ended the day at $2,234.47.

Advertisement
Know where Ethereum 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 mixed start to the day saw Ethereum rise to an early morning intraday high $2,377.80 before hitting reverse.

Falling short of the first major resistance level at $2,453, Ethereum slid to a late afternoon intraday low $2,125.12.

Ethereum fell through the first major support level at $2,300 and the second major support level at $2,227.

Steering clear of sub-$2,100 support levels, Ethereum moved broke back through the second major support level at $2,227 late in the day.

At the time of writing, Ethereum was up by 0.61% to $2,248.10. A mixed start to the day saw Ethereum fall to an early morning low $2,223.83 before rising to a high $2,248.61.

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

For the day ahead

Ethereum would need to avoid a fall back through the $2,246 pivot to bring the first major resistance level at $2,367 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,300 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $2,377.80 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $2,499.

A fall back through the $2,246 pivot would bring the first major support level at $2,114 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level sits at $1,993.

Looking at the Technical Indicators

First Major Support Level: $2,114

Pivot Level: $2,246

First Major Resistance Level: $2,367

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Advertisement

Litecoin

Litecoin slid by 6.44% on Friday. Reversing a 0.36% gain from Thursday, Litecoin ended the day at $156.41.

A mixed start to the day saw Litecoin rise to a mid-morning intraday high $167.39 before hitting reverse.

Falling short of the first major resistance level at $173, Litecoin slid to a late afternoon intraday low $151.11.

Litecoin fell through the first major support level at $162 and the second major support level at $157.

Steering clear of sub-$150, Litecoin ended the day at $156 levels.

At the time of writing, Litecoin was up by 0.50% to $157.19. A mixed start to the day saw Litecoin fall to an early morning low $155.66 before rising to a high $157.20.

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

For the day ahead

Litecoin would need to move through the $158 pivot to bring the first major resistance level at $166 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $167.39 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at and the 62% FIB of $174. The second major resistance level sits at $175.

Failure to move through the $158 pivot would bring the first major support level at $149 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level at $142 should limit the downside.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $149

Pivot Level: $158

First Major Resistance Level: $166

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP fell by 5.33% on Friday. Reversing a 0.89% gain from Thursday, Ripple’s XRP ended the day at $0.79529.

A bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $0.84480 before hitting reverse.

Falling short of the 62% FIB of $0.8573 and the first major resistance level at $0.8600, Ripple’s XRP slid to a late afternoon intraday low $0.77000.

The extended sell-off saw Ripple’s XRP slide through the first major support level at $0.8224 and the second major support level at $0.8041.

Steering clear of the third major support level at $0.7665, Ripple’s XRP ended the day at $0.79 levels.

At the time of writing, Ripple’s XRP was up by 0.43% to $0.79874. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.79436 before rising to a high $0.79929.

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

For the day ahead

Ripple’s XRP will need to move through the $0.8034 pivot to bring the first major resistance level at $0.8367 and the 62% FIB of $0.8573 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.85 levels.

Barring an extended crypto rally, Friday’s high $0.8448 and the 62% FIB would likely cap any upside.

In the event of another extended rally, Ripple’s XRP could test resistance at $0.90. The second major resistance level sits at $0.8782.

Failure to move through the $0.8034 pivot would bring the first major support level at $0.7619 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.70 levels. The second major support level at $0.7286 should limit the downside.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.7619

Pivot Level: $0.8034

First Major resistance Level: $0.8367

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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