After a mixed day for the majors on Tuesday, a move back through Tuesday's highs and avoid a day in the red.
Ethereum fell by 2.12% on Tuesday. Partially reversing a 3.40% gain from Monday, Ethereum ended the day at $4,131.47.
After a choppy morning, Ethereum rose to a late intraday high $4,297.00 before hitting reverse.
Ethereum broke through the first major resistance level at $4,282 before sliding to a late intraday low $4,103.05.
The late sell-off saw Ethereum fall through the first major support level at $4,115 before a partial recovery to $4,130 levels.
At the time of writing, Ethereum was down by 0.19S% to $4,123.82. A mixed start to the day saw Ethereum rise to an early morning high $4,134.89 before falling to a low $4,118.45.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through the $4,179 pivot to bring the first major resistance level at $4,249 play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,200 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $4,297.00 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at May’s all-time high $4,383.4. The second major resistance level sits at $4,367.
Failure to move through the $4,179 pivot would bring the first major support level at $4,061 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,900 levels. The second major support level at $3,991 should limit the downside.
First Major Support Level: $4,061
Pivot Level: $4,179
First Major Resistance Level: $4,249
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin rose by 1.04% on Tuesday. Following a 2.62% increase from Monday, Litecoin ended the day at $197.51.
A bullish start to the day saw Litecoin rise to an early morning intraday high $197.50 before hitting reverse.
Falling short of the first major resistance level at $199, Litecoin slid to an early afternoon intraday low $190.26.
Finding support at the first major support level at $191, Litecoin revisited $196 levels before a slide back into the red.
A final hour move back through to $197 levels, however, delivered the upside on the day.
At the time of writing, Litecoin was down by 0.40% to $196.72. A mixed start to the day saw Litecoin rise to an early morning high $198.42 before falling to a low $196.72.
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 $201 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $205.
A fall through the $196 pivot would bring the first major support level at $192 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$185. The second major support level at $187 should limit the downside.
First Major Support Level: $192
Pivot Level: $196
First Major Resistance Level: $201
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP rose by 1.06% on Tuesday. Following a 1.12% gain on Monday, Ripple’s XRP ended the day at $1.10703.
After a choppy morning and afternoon, Ripple’s XRP surged to a late intraday high $1.15941 before hitting reverse.
Ripple’s XRP broke through the day’s major resistance levels before sliding to a late intraday low $1.09100.
Steering clear of the first major support level at $1.0815, Ripple’s XRP broke back through the first major resistance level at $1.1062 to end the day at $1.1070 levels.
At the time of writing, Ripple’s XRP was down by 0.46% to $1.10193. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.10512 to a low $1.10193.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP would need to move through the $1.1191 pivot to bring the first major resistance level at $1.1473 into play.
Support would be needed, however, for Ripple’s XRP to break out from $1.12 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1.15941 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 $1.1876.
Failure to move through the $1.1191 pivot would bring the first major support level at $1.0789 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid the 38.2% FIB of $1.0659 and the second major support level at $1.0507.
First Major Support Level: $1.0789
Pivot Level: $1.1191
First Major resistance Level: $1.1473
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 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.