It's a mixed start to the day for the majors. A move through yesterday's highs would support a breakout day ahead.
Ethereum rose by 1.40% on Tuesday. Following on from a 7.64% rally on Monday, Ethereum ended the day at $1,841.16.
A mixed start to the day saw Ethereum fall to an early morning intraday low $1,785.77 before making a move.
Steering clear of the first major support level at $1,713, Ethereum rallied to a late intraday high $1,860.00.
Falling short of the first major resistance level at $1,880, Ethereum eased back to end the day at sub-$1,850 levels.
At the time of writing, Ethereum was up by 0.19% to $1,844.68. A bullish start to the day saw Ethereum rise from an early morning low $1,841.00 to a high $1,845.38.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the pivot level at $1,829 to support a run at the first major resistance level at $1,872.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $1,860.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $1,900 before any pullback. The second major resistance level sits at $1,903.
Failure to avoid a fall through the $1,829 pivot would bring the first major support level at $1,798 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,755 should limit the downside.
First Major Support Level: $1,798
Pivot Level: $1,829
First Major Resistance Level: $1,872
23.6% FIB Retracement Level: $1,579
38.2% FIB Retracement Level: $1,292
62% FIB Retracement Level: $830
Litecoin rose by 1.06% on Tuesday. Following on from a 5.11% rally on Monday, Litecoin ended the day at $195.73.
A mixed start to the day saw Litecoin fall to an early morning intraday low $190.18 before making a move.
Steering clear of the first major support level at $185, Litecoin rallied to a mid-day intraday high $200.08.
Litecoin broke through 23.6% FIB of $195 before hitting reverse.
Coming up against the first major resistance level at $200, Litecoin fell back through the 23.6% FIB of $195 before ending the day at $195 levels.
At the time of writing, Litecoin was down by 0.07% to $195.60. A range-bound start to the day saw Litecoin rise to an early morning high $195.81 before falling to a low $195.47.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to avoid a fall through the $195 pivot level and the 23.6% FIB to support a run at the first major resistance level at $201.
Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.
Barring an extended crypto rally, Tuesday’s high $200.08 and the first major resistance level would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $205.
Failure to avoid a fall through the 23.6% FIB of $195 and the $195 pivot level would bring the first major support level at $191 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$180 levels. The second major support level at $185 should limit the downside.
First Major Support Level: $191
Pivot Level: $195
First Major Resistance Level: $201
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP fell by 0.46% on Tuesday. Following a 3.41% gain on Monday, Ripple’s XRP ended the day at $0.56336.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.55938 before making a move.
Steering clear of the first major support level at $0.5488, Ripple’s XRP rallied to a late morning intraday high $0.58603.
Ripple’s XRP broke through the first major resistance level at $0.5763 before hitting reverse.
Coming within range of the second major resistance level at $0.5873, Ripple’s XRP slid back to sub-$0.56 levels before finding support.
Through the latter part of the day, Ripple’s XRP revisited $0.568 levels before falling back into the red.
At the time of writing, Ripple’s XRP was up by 0.07% to $0.56377. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.56314 to a high $0.56418.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move through the $0.5696 pivot level to bring the first major resistance level at $0.5798 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.5750 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.58603 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.60 levels before any pullback. The second major resistance level sits at $0.5962.
Failure to move through the $0.5696 pivot would bring the first major support level at $0.5532 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.54 levels. The second major support level at $0.5429 should limit the downside.
First Major Support Level: $0.5532
Pivot Level: $0.5696
First Major resistance Level: $0.5798
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
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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.