It's a mixed start to the day for the majors. Failure to hold above the day's pivot levels would bring support levels into play.
Ethereum rallied by 2.74% on Sunday. Following on from a 0.8% gain on Saturday, Ethereum ended the week up by 1.12% to $378.58
It was a bullish end to the week. Ethereum rallied from an early morning intraday low $367.31 to a final hour intraday high $378.69.
The day-long rally saw Ethereum break through the first major resistance level at $371.51 and the second major resistance level at $374.55.
At the time of writing, Ethereum was down by 0.11% to $378.16. A mixed start to the day saw Ethereum rise to an early morning high $379.94 before falling to a low $378.01.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the $374.86 pivot to support a run at the first major resistance level at $382.41.
Support from the broader market would be needed, however, for Ethereum to break through to $380 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Ethereum could test the second major resistance level at $386.24 before any pullback.
Failure to avoid a fall through the $374.86 pivot would bring the first major support level at $371.03 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367. The second major support level sits at $363.48.
First Major Support Level: $371.03
Pivot Level: $374.86
First Major Resistance Level: $382.41
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin rose by 1.39% on Sunday. Partially reversing a 1.49% loss from Saturday, Litecoin ended the week down by 5.73% to $47.58.
It was a relatively bullish start to the day. Litecoin rise from an early morning intraday low $46.81 to an early afternoon intraday high $47.98.
The morning rally saw Litecoin break through the first major resistance level at $47.62 before easing back.
Litecoin fell back to a 2nd half low $47.27 before wrapping up the day at $47.5 levels.
At the time of writing, Litecoin was down by 0.23% to $47.47. A mixed start to the day saw Litecoin rise to an early morning high $47.67 before falling to a low $47.47.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to avoid a fall through the $47.46 pivot to support a run at the first major resistance level at $48.10.
Support from the broader market would be needed, however, for Litecoin to break back through to $48 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $47.98 would likely cap any upside.
In the event of another breakout, Litecoin would likely test resistance at $49 before any pullback. The second major resistance level sits at $48.63.
Failure to avoid a fall through the $47.46 pivot level would bring the first major support level at $46.93 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $46.29.
First Major Support Level: $46.93
Pivot Level: $47.46
First Major Resistance Level: $48.1
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP rose by 0.63% on Sunday. Following on from a 0.17% gain on Saturday, Ripple’s XRP ended the week down by 5.21% to $0.24216.
A bullish start to the day saw Ripple’s XRP rise from an early morning intraday low $0.24040 to an early afternoon intraday high $0.24342.
Ripple’s XRP broke through the first major resistance level at $0.2428 before falling back to sub-$0.2425 levels.
At the time of writing, Ripple’s XRP was up by 0.27% to $0.24281. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24229 to a high $0.24281.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid a fall through the $0.2420 pivot to support a run at the first major resistance level at $0.2436.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.24342.
Barring an extended crypto rally, the first major resistance level and Sunday’s high would likely cap any upside.
In the event of an extended rally, the second major resistance level at $0.2450 would likely come into play.
Failure to avoid a fall through the $0.2420 pivot would bring the first major support level at $0.2406 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2350 levels. The second major support level at $0.2390 should limit any downside.
First Major Support Level: $0.2406
Pivot Level: $0.2420
First Major Resistance Level: $0.2436
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.