It’s a bearish start to the day for the majors. A fall through the day’s pivot levels would bring support levels into play.
Ethereum
Ethereum rose by 0.93% on Friday. Following on from a 4.74% rally on Thursday, Ethereum ended the day at $1,957.68.
A mixed start to the day saw Ethereum fall to an early morning intraday low $1,890.00 before making a move.
Steering well clear of the first major support level at $1,877, Ethereum rallied to a late intraday high and a new swing hi $1,974.98.
Coming within range of the first major resistance level at $1,976, Ethereum eased back to end the day at sub-$1,960 levels.
At the time of writing, Ethereum was down by 0.52% to $1,947.53. A mixed start to the day saw Ethereum rise to an early morning high $1,962.31 before falling to a low $1,943.65.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the pivot level at $1,941 to support a run at the first major resistance level at $1,992.
Support from the broader market would be needed, however, for Ethereum to break out from Friday’s new swing hi $1,974.98.
Barring an extended crypto rally, the first major resistance level resistance at $2,000 would likely cap any upside.
In the event of an extended crypto rally, Ethereum could test resistance at $2,100 before any pullback. The second major resistance level sits at $2,026.
Failure to avoid a fall through the $1,941 pivot would bring the first major support level at $1,907 into play.
Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,900 levels. The second major support level sits at $1,856.
Looking at the Technical Indicators
First Major Support Level: $1,907
Pivot Level: $1,941
First Major Resistance Level: $1,992
23.6% FIB Retracement Level: $1,528
38.2% FIB Retracement Level: $1,251
62% FIB Retracement Level: $804
Litecoin
Litecoin rallied by 4.41% on Friday. Revering a 4.58% slide from Thursday, Litecoin ended the day at $236.60.
A bearish start to the day saw Litecoin fall to an early morning intraday low $220.10 before making a move.
Steering clear of the first major support level at $218.53, Litecoin rallied to a late intraday high and a new swing hi $241.99.
Litecoin broke through the first major resistance level at $236.94 before falling back to end the day at $236.6 levels.
At the time of writing, Litecoin was down by 0.63% to $235.20. A mixed start to the day saw Litecoin rise to an early morning high $237.87 before falling to a low $235.20.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $232.93 pivot level to support a run at the first major resistance level at $245.75.
Support from the broader market would be needed, however, for Litecoin to break out from Friday’s swing hi $241.99.
Barring an extended crypto rally, the first major resistance level and resistance at $250 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $260 before any pullback. The second major resistance level sits at $254.82.
Failure to avoid a fall through the $232.93 pivot level would bring the first major support level at $223.86 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$220 levels. The second major support level sits at $211.04.
Looking at the Technical Indicators
First Major Support Level: $223.86
Pivot Level: $232.93
First Major Resistance Level: $245.75
23.6% FIB Retracement Level: $191
38.2% FIB Retracement Level: $159
62% FIB Retracement Level: $108
Ripple’s XRP
Ripple’s XRP rallied by 6.00% on Friday. Reversing a 0.54% fall from Thursday, Ripple’s XRP ended the day at $0.56451.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.51469 before finding support.
Falling through the 23.6% FIB of $0.5320, Ripple’s XRP came within range of the first major support level at $0.5144.
A late morning rally, however, saw Ripple’s XRP strike a mid-day intraday high $0.58151.
Ripple’s XRP broke through the first major resistance level at $0.5547 and the second major resistance level at $0.5775.
More significantly, Ripple’s XRP broke back through the 23.6% FIB.
An afternoon pullback saw Ripple’s XRP fall back through the major resistance levels before a late rally to $0.57 levels.
Ripple’s XRP broke back through the first major resistance level to end the day at $0.56 levels. The second major resistance level at $0.5775 capped the upside late in the day.
At the time of writing, Ripple’s XRP was down by 0.23% to $0.56320. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.56835 before falling to a low $0.56320.
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 $0.5536 pivot level to bring the first major resistance level at $0.5925 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.58151.
Barring an extended crypto rally, the first major resistance level and resistance at $0.60 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.65 before any pullback. The second major resistance level sits at $0.6204.
Failure to avoid a fall through the $0.5536 pivot would bring the 23.6% FIB of $0.5320 and the first major support level at $0.5256 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.50 levels. The second major support level sits at $0.4868.
Looking at the Technical Indicators
First Major Support Level: $0.5256
Pivot Level: $0.5536
First Major Resistance Level: $0.5925
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. Dragonmint FX does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of Dragonmint FX nor its advertisers.
