It’s a bearish start to the day for the majors. A move through the day’s pivot levels would bring resistance levels into play.
Ethereum
Ethereum fell by 1.22% on Sunday. Following on from a 0.14% loss on Saturday, Ethereum ended the week down by 3.49% to $1,784.0.
A mixed start to the day saw Ethereum rise to an early morning intraday high $1,818.86 before hitting reverse.
Falling short of the first major resistance level at $1,850, Ethereum slid to a late morning intraday low $1,748.25.
Ethereum fell through the first major support level at $1,782 and the second major support level at $1,757.
Steering clear of sub-$1,700 levels, Ethereum revisited $1,800 levels before falling back into the red.
The first major support level at $1,782 limited the downside late in the day.
At the time of writing, Ethereum was down by 0.43% to $1,776.34. A mixed start to the day saw Ethereum rise to an early morning high $1,787.53 before falling to a low $1,773.49.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through the pivot level at $1,784 to support a run at the first major resistance level at $1,819.
Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $1,818.86.
Barring an extended crypto rally, the first major resistance level and Sunday’s high would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $1,900 before any pullback. The second major resistance level sits at $1,854.
Failure to move back through the $1,784 pivot would bring the first major support level at $1,749 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,713 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1,749
Pivot Level: $1,784
First Major Resistance Level: $1,819
23.6% FIB Retracement Level: $1,579
38.2% FIB Retracement Level: $1,292
62% FIB Retracement Level: $830
Litecoin
Litecoin fell by 2.31% on Sunday. Reversing a 0.14% gain from Saturday, Litecoin ended the week down by 8.64% to $195.53.
A mixed start to the day saw Litecoin rise to an early morning high $201.95 before hitting reverse.
Falling short of the first major resistance level at $205, Litecoin slid to a late morning intraday low $192.37.
Litecoin fell through the first major support level at $197 and the second major support level at $194.
More significantly, Litecoin also fell through the 23.6% FIB of $195 before finding support.
Steering clear of sub-$190, Litecoin revisited $198 levels before falling back into the red.
While falling back through the first major support level, the 23.6% FIB of $195 limited the downside late on.
At the time of writing, Litecoin was down by 0.50% to $194.55. A mixed start to the day saw Litecoin rise to an early morning high $196.05 before falling to a low $194.55.
While leaving the major support and resistance levels untested, Litecoin fell through the 23.6% FIB of $195 early on.
For the day ahead
Litecoin would need to move back through 23.6% FIB and the $197 pivot level to support a run at the first major resistance level at $201.
Support from the broader market would be needed, however, for Litecoin to break out from $200 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $201.95 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $206.
Failure to move back through the 23.6% FIB and the $197 pivot level would bring the first major support level at $191 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$185 support levels. The second major support level at $187 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $191
Pivot Level: $197
First Major Resistance Level: $201
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP
Ripple’s XRP fell by 1.73% on Sunday. Partially reversing a 12.62% rally from Saturday, Ripple’s XRP ended the week up by 17.77% to $0.51710.
A bullish start saw Ripple’s XRP rise to an early morning intraday high $0.5458 before hitting reverse.
While falling short of the first major resistance level at $0.5777, Ripple’s XRP broke through the 23.6% FIB of $0.5320.
The reversal, however, saw Ripple’s XRP fall to a late morning intraday low $0.49602 before finding support.
While falling back through the 23.6% FIB, Ripple’s XRP avoided the 38.2% FIB of $0.4632 and the major support levels.
Through the 2nd half of the day, Ripple’s XRP revisited $0.52 levels before falling back to sub-$0.52 levels.
At the time of writing, Ripple’s XRP was down by 1.15% to $0.51114. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.51720 to a low $0.51057.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through the $0.5196 pivot level to bring the first major resistance level at $0.5433 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the 23.6% FIB of $0.5320.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.5458 would cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.58 levels before any pullback. The second major resistance level sits at $0.5694.
Failure to move through the $0.5196 pivot would bring the first major support level at $0.4935 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.45 levels. The second major support level at $0.4699 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.4935
Pivot Level: $0.5196
First Major resistance Level: $0.5433
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
Please let us know what you think in the comments below.
Thank you.
