FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

Ethereum

Ethereum slid by 3.26% Friday. Following on from a 0.28% decline on Thursday, Ethereum ended the day at $365.57.

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.

It was another mixed start to the day. Ethereum rose to an early morning intraday high $380.0 before hitting reverse.

Falling short of the first major resistance level at $383.27, Ethereum fell to a late morning intraday low $361.38.

The pullback saw Ethereum fall through the first major support level at $371.34 and the second major support level at $364.73.

More significantly, Ethereum fell through the 38.2% FIB of $367.

Finding support in the 2nd half of the day, Ethereum revisited $371 levels before falling back through the 38.2% FIB. The first major support level at $371.34 pinned Ethereum back.

At the time of writing, Ethereum was down by 0.21% to $364.80. A mixed start to the day saw Ethereum rise to an early morning high $365.89 before falling to a low $364.80.

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

For the day ahead

Ethereum would need to move through the 38.2% FIB and the $368.98 pivot to support a run at the first major resistance level at $376.59.

Support from the broader market would be needed, however, for Ethereum to break back through to $370 levels.

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

In the event of a breakout, Ethereum could visit $380 levels before any pullback. Ethereum would likely come up short of the second major resistance level at $387.60, however.

Failure to move through the 38.2% FIB and the $368.98 pivot would bring the first major support level at $357.97 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$350 levels. The second major support level at $350.36 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $357.97

Pivot Level: $368.98

First Major Resistance Level: $376.59

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Advertisement

Litecoin

Litecoin slid by 3.87% on Friday. Following on from a 0.46% fall on Thursday, Litecoin ended the day at $47.63.

A relatively bullish start to the day saw Litecoin rise to an early morning intraday high $49.9 before hitting reverse.

Falling short of the first major resistance level at $50.27, Litecoin slid to an early morning intraday low $45.64.

Litecoin fell through the day’s major support levels before a move back through to $47 levels.

The partial recovery saw Litecoin move back through the third major support level at $46.81.

At the time of writing, Litecoin was down by 0.31% to $47.48. A bearish start to the day saw Litecoin fall from an early morning high $47.67 to a low $47.48.

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

For the day ahead

Litecoin would need to move through the $47.72 pivot to support a run at the first major resistance level at $49.81.

Support from the broader market would be needed, however, for Litecoin to break back through to $49 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $49.9 would likely cap any upside.

In the event of another breakout, Litecoin would likely test resistance at $51 before any pullback. The second major resistance level sits at $51.98.

Failure to move through the $47.72 pivot level would bring the first major support level at $45.55 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $43.46.

Looking at the Technical Indicators

First Major Support Level: $45.55

Pivot Level: $47.72

First Major Resistance Level: $49.81

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 2.31% on Friday. Following on from a 1.23% decline on Thursday, Ripple’s XRP ended the day at $0.24017.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.24797 before hitting reverse.

Falling short of the first major resistance level at $0.2499, Ripple’s XRP slid to a late morning intraday low $0.23783.

Ripple’s XRP fell through the first major support level at $0.2425 and the second major support level at $0.2391.

Finding support in the late morning, Ripple’s XRP briefly revisited $0.2426 levels before falling back.

The first major support level at $0.2425 pinned Ripple’s XRP back on the day.

At the time of writing, Ripple’s XRP was flat at $0.24024, with no movement at the start of the day.

For the day ahead

Ripple’s XRP will need to move through the $0.2420 pivot to support a run at the first major resistance level at $0.2462.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2450 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $0.24797 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2521 would likely come into play.

Failure to move through the $0.2420 pivot would bring the first major support level at $0.2360 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels. The second major support level at $0.2319 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2360

Pivot Level: $0.2420

First Major Resistance Level: $0.2462

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

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