Three Cryptos to Watch: LTC Eyes $170 Levels, with ETH and XRP also on the Move
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) rallied by 4.17% on Wednesday. Following a 2.03% gain on Tuesday, Ethereum ended the day at $4,022.
After a mixed morning, Ethereum slid to a late afternoon intraday low $3,643 before making a move. The pullback saw Ethereum fall through the 23.6% FIB of $3,738 and the first major support level at $3,737.
Finding late support, however, Ethereum rallied to a late intraday high $4,097. Ethereum broke through the first major resistance level at $3,934 and the second major resistance level at $4,008 to end the day at $4,022 levels.
At the time of writing, Ethereum was down by 0.02% to $4,021. A mixed start to the day saw Ethereum fall to an early morning low $4,017 before rising to a high $4,042.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,921 pivot to bring the first major resistance level at $4,198 into play. Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $4,097. Barring an extended rally, the first major resistance level and resistance at $4,200 should limit the upside.
In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $4,374.
A fall through the $3,921 pivot would bring the first major support level at $3,744 and the 23.6% FIB of $3,738 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,600 levels. The second major support level sits at $3,467.
Looking at the Technical Indicators
First Major Support Level: $3,744
Pivot Level: $3,921
First Major Resistance Level: $4,198
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin (LTC) rose by 2.13% on Wednesday. Following a 4.04% rally on Tuesday, Litecoin ended the day at $153.65.
Tracking the broader market, Litecoin fell to a late afternoon intraday low $141.78 before making a move. The reversal saw Litecoin fall through the first major support level at $145. Steering clear of sub-$140 levels, however, Litecoin rallied to a late intraday high $155.10.
Litecoin broke through the first major resistance level at $154 before easing back to end the day at $153 levels.
At the time of writing, Litecoin was down by 0.20% to $153.34. A mixed start to the day saw Litecoin rise to an early morning high $154.02 before falling to a low $153.30.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $150 pivot to bring the first major resistance level at $159 into play. Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $155.10.
Barring an extended crypto rally, the first major resistance level and resistance at $160 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 $164.
A fall through the $150 pivot would bring the first major support level at $145 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $137.
Looking at the Technical Indicators
First Major Support Level: $145
Pivot Level: $150
First Major Resistance Level: $159
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP rose by 2.01% on Wednesday. Following a 3.76% rally on Tuesday, Ripple’s XRP ended the day at $0.82675.
After a mixed start to the day, Ripple’s XRP fell to a mid-afternoon intraday low $0.77849 before making a move. Ripple’s XRP fell through the first major support level at $0.7831 before rallying to a late intraday high $0.83959.
Ripple’s XRP broke through the first major resistance level at $0.8304 before falling back to end the day at $0.826 levels.
At the time of writing, Ripple’s XRP was down by 0.07% to $0.82618. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.82876 before falling to a low $0.82618.
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 $0.8149 pivot to bring the first major resistance level at $0.8514 and the 23.6% FIB of $0.8533 into play.
Support would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.83959. Barring an extended crypto rally, the 23.6% FIB of $0.8533 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.90 levels before any pullback. The second major resistance level sits at $0.8760.
A fall through the $0.8149 pivot would bring the first major support level at $0.7903 into play. Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$0.77 levels and the second major support level at $0.7538.
Looking at the Technical Indicators
First Major Support Level: $0.7903
Pivot Level: $0.8149
First Major resistance Level: $0.8514
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
