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Ethereum (ETH), Litecoin (LTC), and Ripple’s XRP – Bears Likely to Remain in Control

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·5 min read
In this article:
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This is the technical analysis for Ethereum (ETH), Litecoin (LTC), 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 (ETH)

Ethereum (ETH) slid by 8.45% on Monday. Reversing a 1.02% gain from Sunday, Ethereum ended the day at $3,784.

A bearish day saw Ethereum slide from an early morning intraday high $4,146, to a late intraday low $3,660. Ethereum fell through the day’s major support levels and through the 23.6% FIB of $3,738.

Finding late support, however, Ethereum broke back through the third major support level at $3,709 and the 23.6% FIB to end the day at $3,780 levels.

At the time of writing, Ethereum was down by 0.37% to $3,770. A mixed start to the day saw Ethereum rise to an early morning high $3,787 before falling to a low $3,766.

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

For the day ahead

Ethereum would need to move through the $3,863 pivot to bring the first major resistance level at $4,067 into play. Support from the broader market would be needed, however, for Ethereum to break back through to $4,000 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 $4,300 levels before any pullback. The second major resistance level sits at $4,349.

Failure to move through the $3,863 pivot would bring the 23.6% FIB of $3,738 and the first major support level at $3,581 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,500 levels. The second major support sits level at $3,377.

Looking at the Technical Indicators

First Major Support Level: $3,581

Pivot Level: $3,863

First Major Resistance Level: $4,067

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin (LTC) slid by 9.07% on Monday. Reversing a 0.52% rise from Sunday, Litecoin ended the day at $144.62.

Tracking the broader market, Litecoin fell from an early morning intraday high $159.97 to a late intraday low $142.74. The extended sell-off saw Litecoin fall through the first major support level at $154 and the second major support level at $149.

Steering clear of sub-$140 levels, however, Litecoin found support to revisit $146 levels before easing back.

At the time of writing, Litecoin was down by 0.52% to $143.87. A bearish start to the day saw Litecoin fall from an early morning high $144.74 to a low $143.83.

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

For the day ahead

Litecoin would need to move through the $149 pivot to bring the first major resistance level at $156 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $150 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $159.97 would likely cap the upside. In the event of an extended rally, Litecoin could test resistance at $170 before any pullback. The second major resistance level sits at $166.

Failure to move through the $149 pivot would bring the first major support level at $138 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$135 levels. The second major support level sits at $132.

Looking at the Technical Indicators

First Major Support Level: $138

Pivot Level: $149

First Major Resistance Level: $156

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slid by 6.92% on Monday. Reversing a 0.10% gain from Sunday, Ripple’s XRP ended the day at $0.78227.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.84403 before hitting reverse. Falling short of the 23.6% FIB of $0.8533 and the first major resistance level at $0.8614, Ripple’s XRP slid to a late intraday low $0.76127.

Ripple’s XRP fell through the first major support level at $0.8151 and the second major support level at $0.7897. Steering clear of sub-$0.75 support levels, however, Ripple’s XRP revisited $0.79 before ending the day at sub-$0.785 levels. The second major support level pegged Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.85%. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.78219 to a low $0.77561.

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 $0.7959 pivot to bring the first major resistance level at $0.8304 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $0.80 levels. Barring an extended crypto rally, the first major resistance level and Monday’s high $0.84403 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.90 before any pullback. The second major resistance level sits at $0.8786. Ripple’s XRP would need plenty of support, however, to breakout from the 23.6% FIB of $0.8533.

Failure to move through the $0.7959 pivot would bring the first major support level at $0.7477 into play. Barring another extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.7131.

Looking at the Technical Indicators

First Major Support Level: $0.7477

Pivot Level: $0.7959

First Major resistance Level: $0.8304

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

This article was originally posted on FX Empire

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