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Bob Mason
Crypto00 567

Ethereum

Ethereum fell by 0.63% on Tuesday. Following Monday’s 8.65% rally, Ethereum ended the day at $605.45.

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A mixed start to the day saw Ethereum fall to a mid-morning intraday low $589.41 before making a move.

Steering clear of the first major support level at $569.03, Ethereum rose a late morning intraday high and a new swing hi $623.22.

Falling short of the first major resistance level at $630.46, however, Ethereum fell back to sub-$600 levels.

Finding support in the afternoon, Ethereum briefly revisited $614 levels before easing back into the red.

At the time of writing, Ethereum was down by 0.32% to $603.50. A mixed start to the day saw Ethereum rise to an early morning high $606.49 before falling to a low $601.57.

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

For the day ahead

Ethereum would need to move back through the pivot level at $606.03 to support a run at the first major resistance level at $622.64.

Support from the broader market would be needed, however, for Ethereum to break back through to $620 levels.

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

In the event of another breakout, Ethereum could test resistance at $630 before any pullback. The second major resistance level sits at $639.84.

Failure to move back through the $606.03 pivot would bring the first major support level at $588.83 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$580 levels. The second major support level sits at $572.22.

Looking at the Technical Indicators

First Major Support Level: $588.83

Pivot Level: $606.03

First Major Resistance Level: $622.64

23.6% FIB Retracement Level: $495

38.2% FIB Retracement Level: $416

62% FIB Retracement Level: $288

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Litecoin

Litecoin rose by 0.24% on Tuesday. Following a 7.51% rally from Monday, Litecoin ended the day at $89.34.

It was a mixed start to the day. Litecoin fell to a mid-morning intraday low $86.00 before making a move.

Steering clear of the first major support level at $82.99, Litecoin struck a late morning intraday high $94.05.

Litecoin broke through the first major resistance level at $93.17 before falling back to $86 levels.

Finding support late in the day, however, Litecoin briefly revisited $91 levels before easing back to sub-$90.

At the time of writing, Litecoin was up by 0.29% to $89.60. A mixed start to the day saw Litecoin rise to an early morning high $90.72 before falling to a low $89.22.

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

For the day ahead

Litecoin would need to move back through the $89.80 pivot to support a run at the first major resistance level at $93.59.

Support from the broader market would be needed, however, for Litecoin to break back through to $93 levels.

Barring another extended crypto rally, the first major resistance level and Tuesday’s high $94.05 would likely cap any upside.

In the event of another extended breakout, Litecoin would likely test the second major resistance level at $97.85. The 62% FIB of $100 would likely cap any upside, however.

Failure to move back through the $89.80 pivot level would bring the first major support level at $85.54 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$80 levels. The second major support level at $81.75 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $85.54

Pivot Level: $89.80

First Major Resistance Level: $93.59

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rallied by 12.39% on Tuesday. Following Monday’s 38.3% surge, Ripple’s XRP ended the day at $0.69401.

It was a bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.78716 before hitting reverse.

The rally saw Ripple’s XRP break through the first major resistance level at $0.6804 and the second major resistance level at $0.7438.

More significantly, however, Ripple’s XRP also broke through the 62% FIB of $0.6426 to form a near-term bullish trend.

A late morning pullback saw Ripple’s XRP fall to sub-$0.60 levels before a 2nd half rebound to $0.7490 levels.

Ripple’s XRP broke back through the first and second major resistance levels and the 62% FIB.

A bearish end to the day, however, saw Ripple’s XRP fall back through the second major resistance level.

At the time of writing, Ripple’s XRP was flat at $0.6399. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.70972 before falling to a low $0.68267.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.6825 pivot level to support a run at the first major resistance level at $0.7986.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.78716.

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

In the event of another extended rally, Ripple’s XRP could test resistance at $0.85 before any pullback. The second major resistance level sits at $0.9033.

Failure to avoid a fall through the $0.6825 pivot would bring the 23.6% FIB of $0.6274 and the first major support level at $0.5779 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer well clear of sub-$0.50 levels. The second major support level sits at $0.4616.

Looking at the Technical Indicators

First Major Support Level: $0.5779

Pivot Level: $0.6825

First Major Resistance Level: $0.7986

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

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

Thanks, Bob

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