FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Coins of crypto currency are presented on a dark background. Virtual money concept.

Ethereum

Ethereum slid by 6.86% on Wednesday. Reversing a 1.15% gain from Tuesday, Ethereum ended the day at $320.63.

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.

A mixed start to the day saw Ethereum rise to an early morning intraday high $344.64 before hitting reverse.

Falling short of the first major resistance level at $348.88, Ethereum slipped to a mid-morning low $332.77.

Ethereum fell through the first major support level at $337.61 before striking an afternoon high $343.44.

The return to $340 levels was brief, however, with Ethereum sliding to a late intraday low $313.00.

Finding late support, Ethereum broke back through the third major support level at $319.68 to wrap up the day at $320 levels.

At the time of writing, Ethereum was up by 1.04% to $323.95. A choppy start to the day saw Ethereum fall to an early morning low $316.65 before rising to a high $324.64

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

For the day ahead

Ethereum would need to move through the $326.09 pivot to support a run at the first major resistance level at $339.18.

Support from the broader market would be needed, however, for Ethereum to break back through to $330 levels.

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

Failure to move through the $326.09 pivot would bring the first major support level at $307.54 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The second major support level sits at $294.45.

Looking at the Technical Indicators

First Major Support Level: $307.54

Pivot Level: $326.09

First Major Resistance Level: $339.18

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Advertisement

Litecoin

Litecoin fell by 3.53% on Wednesday. Partially reversing a 3.15% rally from Tuesday, Litecoin ended the day at $42.92.

It was a mixed start to the day. Litecoin fell to a mid-morning low $43.71 before making a move.

Steering clear of the first major support level at $43.25, Litecoin struck a mid-day intraday high $45.12 before hitting reverse.

Falling short of the first major resistance level at $45.30, Litecoin slid to a late intraday low $42.24.

Litecoin fell through the first major support level at $43.25 to wrap up the day at sub-$42 levels.

At the time of writing, Litecoin was up by 1.37% to $43.51. A mixed start to the day saw Litecoin fall to an early morning low $42.59 before rising to a high $43.62.

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

For the day ahead

Litecoin would need to avoid a fall back through the $43.43 pivot to support a run at the first major resistance level at $44.61.

Support from the broader market would be needed, however, for Litecoin to break back through to $44 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $45.12 would likely cap any upside.

Failure to avoid a fall back through the $43.43 pivot level would bring the first major support level at $41.73 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.55 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $41.73

Pivot Level: $43.43

First Major Resistance Level: $44.61

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slid by 5.02% on Wednesday. Reversing a 0.86% gain from Tuesday, Ripple’s XRP ended the day at $0.22126.

Recovering from a mid-morning low $0.23082, Ripple’s XRP struck an early afternoon intraday high $0.23506 before hitting reverse.

Ripple’s XRP came within range of the first major resistance level at $0.0.2352, before sliding to a late intraday low $0.22059.

The sell-off saw Ripple’s XRP fall through the day’s major support levels to wrap up the day at sib-$0.2220 levels.

At the time of writing, Ripple’s XRP was up by 0.88% to $0.22320. A Choppy start to the day saw Ripple’s XRP fall to an early morning low $0.21925 before rising to a high $0.22320.

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

For the day ahead

Ripple’s XRP will need to move through the $0.2256 pivot to support a run at the first major resistance level at $0.2307.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.23 levels.

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

Failure to move through the $0.2256 pivot would bring the first major support level at $0.2162 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2112 and sub-$0.21 levels.

Looking at the Technical Indicators

First Major Support Level: $0.2162

Pivot Level: $0.2256

First Major Resistance Level: $0.2307

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