After a mixed day for the majors on Monday, avoiding Monday's lows will be key to support a bullish day ahead.
Ethereum rose by 0.76% on Monday. Partially reversing a 0.82% decline from Sunday, Ethereum ended the day at $4,322.89.
A bearish start to the day saw Ethereum slide to an early morning intraday low $4,151.00 before making a move.
Ethereum fell through the first major support level at $4,174 before rising to an early afternoon intraday high $4,385.16.
Falling short of the first major resistance level at $4,401, Ethereum slid back to sub-$4,300 levels before finding support.
At the time of writing, Ethereum was down by 0.14% to $4,316.82. A mixed start to the day saw Ethereum rise to an early morning high $4,324.75 before falling to a low $4,316.82.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid the $4,286 pivot to bring the first major resistance level at $4,422 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $4,385.16.
Barring an extended crypto rally, the first major resistance level and last week’s ATH $4,461.96 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,600 levels before any pullback. The second major resistance level sits at $4,521.
A fall through the $4,286 pivot would bring the first major support level at $4,188 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level at $4,052 should limit the downside.
First Major Support Level: $4,188
Pivot Level: $4,286
First Major Resistance Level: $4,422
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin rose by 2.94% on Monday. Following a 0.88% gain on Sunday, Litecoin ended the day at $197.65.
A mixed start to the day saw Litecoin fall to an early morning intraday low $188.02 before making a move.
Finding support at the first major support level at $188, Litecoin surged to a late afternoon intraday high $201.31.
Litecoin broke through the first major resistance level at $196 to end the day at $197 levels.
At the time of writing, Litecoin was up by 0.16% to $197.97. A mixed start to the day saw Litecoin fall to an early morning low $197.61 before rising to a high $198.40.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to avoid the $196 pivot to bring the first major resistance level at $203 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $201.31.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of another breakout, Litecoin could test the second major resistance level at $209.
A fall through the $196 pivot would bring the first major support level at $190 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$185. The second major support level sits at $182.
First Major Support Level: $190
Pivot Level: $196
First Major Resistance Level: $203
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP fell by 1.77% on Monday. Partially reversing a 2.75% gain from Sunday, Ripple’s XRP ended the day at $1.09390.
A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $1.13226 before hitting reverse.
Falling short of the first major resistance level at $1.1546, Ripple’s XRP slid to an early morning intraday low $1.07149.
Coming within range of the first major support level at $1.0711, Ripple’s XRP revisited $1.10 levels before easing back.
At the time of writing, Ripple’s XRP was down by 0.27% to $1.09100. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.09294 to a low $1.09100.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP would need to move through the $1.0992 pivot to bring the first major resistance level at $1.1269 into play.
Support would be needed, however, for Ripple’s XRP to break back through to $1.12 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $1.13226 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1600.
Failure to move through the $1.0992 pivot would bring the first major support level at $1.0662 and the 38.2% FIB of $1.0659 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.05 levels. The second major support level sits at $1.0384.
First Major Support Level: $1.0662
Pivot Level: $1.0992
First Major resistance Level: $1.1269
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
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Thanks, Bob
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.