Ethereum
Ethereum fell by 5.35% on Thursday. Reversing a 4.07% gain from Wednesday, Ethereum ended the day at $2,471.59.
A mixed start to the day saw Ethereum rise to an early morning intraday high $2,625.00 before hitting reverse.
Falling short of the first major resistance level at $2,691, Ethereum slid to a late intraday low $2,428.16.
The reversal saw Ethereum fall through the first major support level at $2,469 before ending the day at $2,471 levels.
At the time of writing, Ethereum was up by 0.93% to $2,494.55. A mixed start to the day saw Ethereum fall to an early morning low $2,447.31 before striking a high $2,499.34.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $2,508 pivot to bring the first major resistance level at $2,588 into play.
Support from the broader market would be needed, however, for Ethereum to break out from $2,550 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at the 38.2% FIB of $2,740. The second major resistance level sits at $2,705.
Failure to move through the $2,508 pivot would bring the first major support level at $2,392 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,300 levels. The second major support level at $2,311 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,392
Pivot Level: $2,508
First Major Resistance Level: $2,588
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 2.69% on Thursday. Partially reversing a 7.37% rally from Wednesday, Litecoin ended the day at $168.05.
A mixed start to the day saw Litecoin rise to an early morning intraday high $174.69 before hitting reverse.
While falling short of the first major resistance level at $180, Litecoin tested resistance at the 62% FIB of $174.
The reversal saw Litecoin slide to a late intraday low $162.21.
Steering clear of the first major support level at $159, Litecoin found support to end the day at $168 levels.
At the time of writing, Litecoin was up by 0.90% to $169.56. A mixed start to the day saw Litecoin fall to an early morning low $166.25 before striking a high $170.20.
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 $168 pivot to bring the 62% FIB and the first major resistance level at $174 into play.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $170.20.
Barring an extended crypto rally, the first major resistance level and the 62% FIB would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $181.
A fall back through the $168 pivot would bring the first major support level at $162 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $156.
A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $162
Pivot Level: $168
First Major Resistance Level: $174
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP fell by 5.80% on Thursday. Reversing a 5.58% gain from Wednesday, Ripple’s XRP ended the day at $0.86864.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.93000 before hitting reverse.
Falling short of the first major resistance level at $0.9523, Ripple’s XRP slid to a late intraday low $0.85253.
Ripple’s XRP fell through the first major support level at $0.8615 and the 62% FIB of $0.8573.
Finding late support, however, Ripple’s XRP broke back through the major support level and the 62% FIB to end the day at $0.868 levels.
At the time of writing, Ripple’s XRP was up by 0.19% to $0.87019. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.85683 before rising to a high $0.87394.
While leaving the major support and resistance levels untested early on, Ripple’s XRP tested support at the 62% FIB of $0.8573.
For the day ahead
Ripple’s XRP will need to move through the $0.8837 pivot to bring the first major resistance level at $0.9149 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.90 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.93000 would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at $1.00. The second major resistance level sits at $0.9612.
Failure to move through the $0.8837 pivot would bring the 62% FIB of $0.8573 and the first major support level at $0.8374 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level at $0.8062 should limit the downside.
A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.
Looking at the Technical Indicators
First Major Support Level: $0.8374
Pivot Level: $0.8837
First Major resistance Level: $0.9149
23.6% FIB Retracement Level: $1.5426
38.2% FIB Retracement Level: $1.2807
62% FIB Retracement Level: $0.8573
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire
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