Ethereum
Ethereum rose by 0.37% on Monday. Following on from a 1.82% gain from Sunday, Ethereum ended the day at $353.73.
A bullish start to the day saw Ethereum rise to an early morning intraday high $356.12 before hitting reverse.
Falling short of the first major resistance level at $356.53, Ethereum slid to a mid-morning intraday low $348.69.
Steering clear of the first major support level at $346.26, Ethereum recovered to an afternoon high $354.41.
Coming up short of the morning high, Ethereum fell back to sub-$350 levels before a late recovery to $353 levels.
At the time of writing, Ethereum was up by 0.17% to $354.33. A bullish start to the day saw Ethereum rise from an early morning low $353.82 to a high $355.33.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $352.85 pivot to support another run at the first major resistance level at $357.00.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $356.12.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $352.85 pivot would bring the first major support level at $349.57 into play.
Barring an extended sell-off, however, Ethereum should avoid sub-$345 levels. The second major support level at $345.42 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $349.57
Pivot Level: $352.85
First Major Resistance Level: $357.00
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin fell by 0.77% on Monday. Partially reversing a 2.52% gain from Sunday, Litecoin ended the day at $46.35.
It was also a bullish start to the day. Litecoin rose to an early morning intraday high $47.09 before hitting reverse.
Falling short of the first major resistance level at $47.41, Litecoin slid to a late afternoon intraday low $45.55.
Finding support at the first major support level at $45.65, Litecoin recovered to $46 levels to limit the loss.
At the time of writing, Litecoin was up by 0.06% to $46.38. A bullish start to the day saw Litecoin rise from an early morning low $46.32 to a high $46.43.
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 $46.33 pivot to support another run at the first major resistance level at $47.11.
Support from the broader market would be needed, however, for Litecoin to break back through to $47 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $47.09 would likely cap any upside.
In the event of another breakout, Litecoin could test resistance at $48 before any pullback. The second major resistance level sits at $47.87.
Failure to avoid a fall back through the $46.33 pivot level would bring the first major support level at $45.57 into play.
Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$44 levels. The second major support level at $44.79 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $45.57
Pivot Level: $46.33
First Major Resistance Level: $47.11
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP rose by 1.07% on Monday. Consolidating a 6.50% rally from Sunday, Ripple’s XRP ended the day at $0.25055.
Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.25448 before hitting reverse.
Coming within range of the first major resistance level at $0.2549, Ripple’s XRP slid to a late morning intraday low $0.24657.
Steering well clear of the first major support level at $0.2364, Ripple’s XRP struck an afternoon high $0.25349.
Falling short of the major resistance levels, Ripple’s XRP slipped back to sub-$0.25 levels before finding support.
A late move back through to $0.25 levels delivered the upside on the day.
At the time of writing, Ripple’s XRP was up by 0.30% to $0.25130. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25097 to a high $0.25152.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.2505 pivot to support another run at the first major resistance level at $0.2545.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2510 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.25448 would likely cap any upside.
In the event of an extended rally, the second major resistance level at $0.2584 would likely come into play.
Failure to avoid a fall through the $0.2505 pivot would bring the first major support level at $0.2466 into play.
Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level at $0.2426 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.2466
Pivot Level: $0.2505
First Major Resistance Level: $0.2545
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
This article was originally posted on FX Empire
