Ethereum
Ethereum slid by 10.58% on Monday. Following a 3.14% loss on Sunday, Ethereum ended the day at $2,976.48.
A mixed start to the day saw Ethereum rise to an early morning intraday high $3,346.58 before hitting reverse.
Falling short of 23.6% FIB of $3,369 and the first major resistance level at $3,431, Ethereum slid to a mid-day intraday low $2,911.81.
Ethereum fell through day’s major support levels to end the day at sub-$3,000 levels.
Through the afternoon, Ethereum had broken back through the third major support level at $2,996 before easing back.
At the time of writing, Ethereum was down by 0.67% to $2,956.40. A mixed start to the day saw Ethereum rise to an early morning high $2,977.52 before falling to a low $2,952.09.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $3,078 pivot to bring the first major resistance level at $3,245 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $3,200 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,513.
Failure to move through the $3,078 pivot would bring the first major support level at $2,810 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $2,644.
Looking at the Technical Indicators
First Major Support Level: $2,810
Pivot Level: $3,078
First Major Resistance Level: $3,245
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin slid by 10.55% on Monday. Following a 3.08% decline on Sunday, Litecoin ended the day at $157.23.
A mixed start to the day saw Litecoin rise to an early morning intraday high $176.13 before hitting reverse.
Falling short of the 23.6% FIB of $178 and the first major resistance level at $181, Litecoin slid to a mid-day intraday low $153.49.
The reversal saw Litecoin fall through the day’s major support levels.
Through the afternoon, Litecoin had broken back through the third major support level at $160 before falling back.
At the time of writing, Litecoin was down by 0.90% to $155.81. A mixed start to the day saw Litecoin rise to an early morning high $157.86 before falling to a low $155.75.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $162 pivot to bring the first major resistance level at $171 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $165 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 the 23.6% FIB of $178 and $180. The second major resistance level sits at $185.
Failure to move through the $162 pivot would bring the first major support level at $148 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$140. The second major support level at $140 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $148
Pivot Level: $162
First Major Resistance Level: $171
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP tumbled by 12.16% on Monday. Following a 2.51% fall on Sunday, Ripple’s XRP ended the day at $0.92113.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.04991 before hitting reverse.
Falling short of the first major resistance level at $1.0312, Ripple’s XRP slid to a mid-day intraday low $0.87506.
Ripple’s XRP fell through the day’s major support levels.
Steering clear of the 23.6% FIB of $0.8533, however, Ripple’s XRP briefly revisited $0.95 levels before easing back.
At the time of writing, Ripple’s XRP was down by 1.96% to $0.9031. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.92162 to a low $0.90310.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to move through the $0.9487 pivot to bring the first major resistance level at $1.0223 into play. Support would be needed, however, for Ripple’s XRP to move back through to $1.00 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $1.04991 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.1236. Ripple’s XRP would need plenty of support, however, to breakout from the 38.2% FIB of $1.0659.
Failure to move through $0.9487 pivot would bring the 23.6% FIB of $0.8533 and the first major support level at $0.8475 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7739.
Looking at the Technical Indicators
First Major Support Level: $0.8475
Pivot Level: $0.9487
First Major resistance Level: $1.0223
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
Please let us know what you think in the comments below.
Post a Comment