It's a mixed start to the day for the majors. Avoiding a fall through the day's pivot levels, however, would bring resistance levels into play.
Ethereum rallied by 8.43% on Friday. Following on from a 2.52% gain on Thursday, Ethereum ended the day at $2,134.38.
A mixed start to the day saw Ethereum fall to an early morning intraday low $1,948.67 before making a move.
Steering clear of the first major support level at $1,909, Ethereum surged to a final hour intraday high and a new swing hi $2,145.0.
Ethereum broke through the day’s major resistance levels before easing back to sub-$2,140 levels.
The pullback saw Ethereum fall back through the third major resistance level at $2,138 to end the day at $2,134 levels.
At the time of writing, Ethereum was down by 0.91% to $2,115.35. A mixed start to the day saw Ethereum rise to an early morning high $2,139.33 before falling to a low $2,099.57.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the pivot level at $2,076 to support a run at the first major resistance level at $2,204.
Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $2,145.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $2,400 before any pullback. The second major resistance level sits at $2,273.
Failure to avoid a fall through the $2,076 pivot would bring the first major support level at $2,007 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,880.
First Major Support Level: $2,007
Pivot Level: $2,076
First Major Resistance Level: $2,204
23.6% FIB Retracement Level: $1,659
38.2% FIB Retracement Level: $1,356
62% FIB Retracement Level: $869
Litecoin rose by 4.32% on Friday. Following on from a 2.93% gain on Thursday, Litecoin ended the day at $211.50.
A mixed start to the day saw Litecoin fall to an early morning intraday low $200.79 before making a move.
Steering clear of the first major support level at $196, Litecoin rallied to a final hour intraday high $213.56.
Litecoin broke through the first major resistance level at $207 and the second major resistance level at $211.
The second major resistance level at $211 delivered support late in the day, with Litecoin ending the day at $211 levels.
At the time of writing, Litecoin was up by 0.38% to $212.3. A mixed start to the day saw Litecoin fall to an early morning low $211.32 before rising to a high $214.71.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to avoid a fall through the $209 pivot level to support another run at the first major resistance level at $216.
Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $214.71.
Barring an extended crypto rally, the first major resistance level and resistance at $220 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $230 before any pullback. The second major resistance level sits at $221.
Failure to avoid a fall through the $209 pivot level would bring the first major support level at $204 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level sits at $196.
First Major Support Level: $204
Pivot Level: $209
First Major Resistance Level: $216
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP rallied by 6.00% on Friday. Following a 0.04% decline on Thursday, Ripple’s XRP ended the day at $0.60649.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.56434 before making a move.
Steering clear of the first major support level at $0.5478, Ripple’s XRP rallied to a late afternoon intraday high $0.60877.
Ripple’s XRP broke through the first major resistance level at $0.5932 before falling back to sub-$0.59 levels.
Finding late support, however, Ripple’s XRP broke back through the first major resistance level to end the day at $0.60 levels.
At the time of writing, Ripple’s XRP was up by 0.93% to $0.61212. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.60676 before rising to a high $0.62079.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid a fall through the $0.5932 pivot level to bring the first major resistance level at $0.6221 back into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $0.62079.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.65 levels before any pullback. The second major resistance level sits at $0.6376.
Failure to avoid a fall through the $0.5932 pivot would bring the first major support level at $0.5776 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.55 levels. The second major support level sits at $0.5488.
First Major Support Level: $0.5776
Pivot Level: $0.5932
First Major resistance Level: $0.6221
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
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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.