It's a mixed start to the day following Thursday's rebound. Avoiding the day's pivot levels will be key to supporting another day of gains...
Ethereum jumped by 8.89% on Thursday. Reversing a 6.86% slide from Wednesday, Ethereum ended the day at $349.14.
A mixed start to the day saw Ethereum fall to an early morning intraday low $323.38 before making a move.
Steering clear of the first major support level at $307.54, Ethereum rallied to a late intraday high $353.14.
Ethereum broke through the first major resistance level at $339.18 to return to $350 levels for the 1st time since Monday. A bearish end to the day, however, left Ethereum at sub-$350.
At the time of writing, Ethereum was down by 0.48% to $347.47. A mixed start to the day saw Ethereum rise to an early morning high $350.50 before falling to a low $346.64.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the $341.89 pivot to support a run at the first major resistance level at $360.39.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $353.14.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $341.89 pivot would bring the first major support level at $330.63 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The second major support level at $312.13 should limit any downside.
First Major Support Level: $330.63
Pivot Level: $341.89
First Major Resistance Level: $360.39
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin rallied by 4.66% on Thursday. Reversing a 3.53% slide from Wednesday, Litecoin ended the day at $44.95.
It was a mixed start to the day. Litecoin fell to an early morning intraday low $42.59 before making a move.
Steering clear of the first major support level at $41.73, Litecoin rallied to a late afternoon intraday high $45.23.
The rally saw Litecoin break through the first major resistance level at $44.61.
In spite of a bearish end to the day, Litecoin avoided a fall back through the first major resistance level.
At the time of writing, Litecoin was down by 0.80% to $44.59. A bearish start to the day saw Litecoin fall from an early morning high $44.99 to a low $44.61.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to avoid a fall back through the $44.26 pivot to support a run at the first major resistance level at $45.92.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $45.23.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall back through the $44.26 pivot level would bring the first major support level at $43.28 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$42 levels. The second major support level sits at $41.62.
First Major Support Level: $43.28
Pivot Level: $44.26
First Major Resistance Level: $45.92
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP rallied by 5.23% on Thursday. Reversing a 5.02% slide from Wednesday, Ripple’s XRP ended the day at $0.23297.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.21925 before making a move.
Steering clear of the first major support level at $0.2162, Ripple’s XRP rallied to a late afternoon intraday high $0.2350.
Ripple’s XRP broke through the first major resistance level at $0.2307 to wrap up the day at $0.232 levels.
At the time of writing, Ripple’s XRP was down by 0.56% to $0.23167. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.2333 to a low $0.23156.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid a fall through the $0.2291 pivot to support a run at the first major resistance level at $0.2389.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.2350.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $0.2291 pivot would bring the first major support level at $0.2231 into play.
Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.22 levels and the second major support level at $0.2133.
First Major Support Level: $0.2231
Pivot Level: $0.2291
First Major Resistance Level: $0.2389
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
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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.