Ethereum, Litecoin, and Ripple’s XRP – Revisiting Wednesday's Highs Would Support another Breakout


This is the technical analysis for Ethereum, Litecoin, and Ripple’s XRP. We will be looking at previous day price action and today’s support, resistance, and pivot levels and, when in play, the Fibonacci’s.

Ethereum

Ethereum rose by 3.02% on Wednesday. Reversing a 1.01% loss from Tuesday, Ethereum ended the day at $4,441.

After a mixed start to the day, Ethereum fell to a mid-day intraday low $4,227 before making a move. Finding support at the first major support level at $4,236, Ethereum rallied to a mid-afternoon intraday high $4,456.

Ethereum broke through the first major resistance level at $4,410 to end the day at $4,440 levels.

At the time of writing, Ethereum was up by 0.58% to $4,466. A mixed start to the day saw Ethereum fall to an early morning low $4,433 before rising to a high $4,473.

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

For the day ahead

Ethereum would need to avoid the $4,375 pivot to bring the first major resistance level at $4,522 into play. Support from the broader market would be needed, however, for Ethereum to break back through to $4,500 levels. Barring an extended rally, the first major resistance level should limit the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at the $4,700 levels before any pullback. The second major resistance level sits at $4,604.

A fall through the $4,375 pivot would bring the first major support level at $4,293 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,200 levels. The second major support level sits at $4,145.

Looking at the Technical Indicators

First Major Support Level: $4,293

Pivot Level: $4,375

First Major Resistance Level: $4,522

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin rose by 1.93% on Wednesday. Following a 0.24% gain on Tuesday, Litecoin ended the day at $165.21.

A choppy morning saw Litecoin break through the first major resistance level at $166 to visit $170 levels before hitting reverse. The reversal saw Litecoin slide to a late morning intraday low $156.18.

Litecoin fell through the first major support level at $158 before rallying to a mid-afternoon intraday high $170.48. Litecoin broke back through the first major resistance level at $166 before falling back to end the day at sub-$166.

At the time of writing, Litecoin was up by 0.41% to $165.88. A mixed start to the day saw Litecoin fall to an early morning low $164.86 before rising to a high $166.04.

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

For the day ahead

Litecoin would need to avoid the $164 pivot to bring the first major resistance level at $172 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $170 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside. In the event of an extended rally, Litecoin could test resistance at the second major resistance level at $178 and the 23.6% FIB of $178 before any pullback.

A fall through the $164 pivot would bring the first major support level at $157 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$150 levels. The second major support level at $150 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $157

Pivot Level: $164

First Major Resistance Level: $172

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 5.63% on Wednesday. Reversing a 1.26% fall from Tuesday, Ripple’s XRP ended the day at $0.8625.

A mixed morning saw Ripple’s XRP rise to a mid-morning high $0.84977 before hitting reverse. Ripple’s XRP broke through the first major resistance level at $0.8405 before sliding to a late morning intraday low $0.80419.

Steering clear of the first major support level at $0.7989, however, Ripple’s XRP rallied to a late afternoon intraday high $0.88500. Ripple’s XRP broke back through the first major resistance level and through the 23.6% FIB of $0.8533.

The extended rally also saw Ripple’s XRP briefly break through the second major resistance level at $0.8640 before ending the day at sub-$0.8630 levels.

At the time of writing, Ripple’s XRP was up by 0.42% to $0.86615. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.86282 to a high $0.86809.

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

For the day ahead

Ripple’s XRP would need to avoid the 23.6% FIB of $0.8533 and the $0.8506 pivot to bring the first major resistance level at $0.8969 into play.

Support would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.88500. Barring an extended crypto rally, the first major resistance level and resistance at $0.90 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.95 levels before any pullback. The second major resistance level sits at $0.9314.

A fall through the 23.6% FIB and the $0.8506 pivot would bring first major support level at $0.8161 into play. Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$0.80 levels. The second major support level sits at $0.7698.

Looking at the Technical Indicators

First Major Support Level: $0.8161

Pivot Level: $0.8506

First Major resistance Level: $0.8969

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP



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