ether

Ethereum rose 4.07% on Wednesday. Ethereum reversed a 3.22% decline from Tuesday, ending the day at $ 2,611.27.

A bearish start to the day caused Ethereum to hit an early morning intraday low of $ 2,406.33 before moving.

To bypass the first major support level at $ 2,338, Ethereum rebounded to an intraday high of $ 2,628.16 in the late afternoon.

When Ethereum got into the area of ​​the first major resistance level at $ 2,651, it gave way again, ending the day at a level of $ 2,611.

At the time of writing, Ethereum was up 0.03% to $ 2,611.98. A mixed start to the day resulted in Ethereum falling to an early morning low of $ 2,598.67 before hitting a high of $ 2,625.00.

Ethereum left key support and resistance levels untested early on.

For the coming day

Ethereum would have to avoid the $ 2,549 pivot to bring into play the first major resistance level at $ 2,691.

However, for Ethereum to break out of Wednesday’s high at $ 2,628.16, it would require support from the broader market.

Aside from an extended crypto rally, the first major resistance level would likely limit any uptrend.

In the event of a large-scale crypto rally, Ethereum could test resistance at 38.2% FIB at $ 2,740 and the second major resistance level at $ 2,770.

A fall through the $ 2,549 pivot would bring the first major support level into play at $ 2,469.

However, aside from another lengthy sell-off, Ethereum should avoid the second major support level at $ 2,327.

Look at the technical indicators

First major support level: $ 2,469

Pivot level: $ 2,549

First major resistance level: $ 2,691

23.6% FIB retracement level: $ 3,369

38.2% FIB retracement level: $ 2,740

62% FIB retracement level: $ 1,725

Litecoin

Litecoin was up 7.37% on Wednesday. Litecoin reversed a 0.75% loss from Tuesday, ending the day at $ 172.57.

A mixed start to the day caused Litecoin to hit an early morning intraday low of $ 152.46 before making a move.

Litecoin, which moved off the first major support level at $ 149, rebounded to a late afternoon intraday high of $ 173.33.

The story goes on

Litecoin broke the first major resistance level at $ 169 to test resistance at the 62% FIB of $ 174 before subsiding again.

The first major resistance level provided support late in the day.

At the time of writing, Litecoin was up 0.76% to $ 173.89. After a mixed start to the day, Litecoin fell to an early morning low of $ 171.96 before hitting a high of $ 174.41.

While Litecoin left key support and resistance levels untested early on, Litecoin tested resistance at the 62% FIB of $ 174.

For the coming day

Litecoin would have to avoid the $ 166 pivot to bring the 62% FIB and first major resistance at $ 180 back into play.

However, in order for Litecoin to break out of the 62 percent FIB of $ 174, it would require support from the broader market.

Aside from an extended crypto rally, the first major resistance level would likely limit any uptrend.

In the event of a prolonged breakout, Litecoin could test the resistance at $ 200. The second major resistance level is at $ 187.

A fall through the $ 166 pivot would bring the first major support level into play at $ 159.

However, apart from another lengthy sell-off, Litecoin should stay away from under $ 150. The second major level of support is at $ 145.

A sustained decline below the 62% FIB of $ 174 would form a short-term downtrend from the May 10 swing to $ 413.91.

Look at the technical indicators

First major support level: $ 159 $ 1

Pivot level: $ 166

First major resistance level: $ 180

23.6% FIB retracement level: $ 322

38.2% FIB retracement level: $ 265

62% FIB retracement level: $ 174

Ripple’s XRP

Ripple’s XRP rose 5.58% on Wednesday. After rising 1.45% on Tuesday, Ripple’s XRP ended the day at $ 0.92205.

A bearish start to the day caused Ripple’s XRP to drop to an early morning intraday low of $ 0.83125 before finding support.

While Ripple’s XRP hit the first major support level at $ 0.8100 ($ 0.8100), it fell through the 62% FIB of $ 0.8573.

However, the rebound resulted in Ripple’s XRP breaking the 62% FIB and reaching a last hour intraday high of $ 0.92205.

Ripple’s XRP also broke the first major resistance level at $ 0.9124, ending the day at $ 0.92.

At the time of writing, Ripple’s XRP was up 0.78% to $ 0.92924. A mixed start to the day resulted in Ripple’s XRP dropping to an early morning low of $ 0.91691 before rising to a high of $ 0.92924.

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

For the coming day

Ripple’s XRP needs to avoid the $ 0.8918 pivot to bring into play the first major resistance level at $ 0.9523.

However, in order for Ripple’s XRP to break back to the $ 0.95 level, support from the broader market would be required.

Aside from an extended crypto rally, the first major resistance level would likely limit any uptrend.

In the event of another extended rally, Ripple’s XRP could test resistance at $ 1.00. The second major resistance level is at $ 0.0926.

Falling through the $ 0.8918 pivot would bring the first major support level into play at $ 0.8615.

However, subject to another lengthy sell-off, Ripple’s XRP should bypass the second major support level at $ 0.8010. The 62% FIB of $ 0.8573 should limit the downside.

A continued decline through the 62% FIB of $ 0.8573 would form a short-term downtrend from April 14th to $ 1.96598.

Look at the technical indicators

First major support level: $ 0.8615

Pivot Level: $ 0.8918

First major resistance level: $ 0.9523

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 published on FX Empire

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