After a mixed day for the majors on Monday, a move back through Monday's highs would be needed to support a bullish day ahead.
Ethereum rose by 3.74% on Monday. Partially reversing a 4.48% slide from Sunday, Ethereum ended the day at $3,542.37.
A mixed start to the day saw Ethereum slide to an early morning intraday low $3,373.45 before making a move.
Steering clear of the 23.6% FIB of $3,369 and the first major support level at $3,346, Ethereum rallied to a late morning intraday high $3,625.0.
Ethereum broke through 23.6% FIB and the first major resistance level at $3,545.
A late pullback saw Ethereum fall back through the first major resistance level to end the day at $3,542 levels.
At the time of writing, Ethereum was down by 0.42% to $3,527.35. A mixed start to the day saw Ethereum rise to an early morning high $3,543.21 before falling to a low $3,516.69.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid the $3,514 pivot to bring the first major resistance level at $3,654 play.
Support from the broader market would be needed, however, for Ethereum to break back through to $3,600 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $3,625.00 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,765.
A fall through the $3,514 pivot would bring the first major support level at $3,402 and the 23.6% FIB of $3,369 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level sits at $3,262.
First Major Support Level: $3,402
Pivot Level: $3,514
First Major Resistance Level: $3,654
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin rose by 2.53% on Monday. Partially reversing a 2.82% fall from Sunday, Litecoin ended the day at $179.20.
A mixed start to the day saw Litecoin slide to an early morning intraday low $172.41 before making a move.
Steering clear of the first major support level at $171, Litecoin rallied to a late morning intraday high $185.34.
Litecoin broke through the 23.6% FIB of $178 and the first major resistance level at $181.
A late pullback saw Litecoin fall back to sub-$175 levels before a move back through the 23.6% FIB to end the day at $179 levels.
At the time of writing, Litecoin was down by 0.35% to $178.58. A mixed start to the day saw Litecoin rise to an early morning high $179.22 before falling to a low $178.58.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to move back through the $179 pivot to bring the first major resistance level at $186 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $185 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $185.34 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $195 before any pullback. The second major resistance level sits at $192.
Failure to move back through the $179 pivot would bring the 23.6% FIB of $178 and the first major support level at $173 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level at $166 should limit the downside.
First Major Support Level: $173
Pivot Level: $179
First Major Resistance Level: $186
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP rose by 0.21% on Monday. Following a 2.09% decline on Sunday, Ripple’s XRP ended the day at $1.13802.
A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $1.18150 before hitting reverse.
Falling short of the first major resistance level at $1.2007, however, Ripple’s XRP slid to a late intraday low $1.10415.
Steering clear of the first major support level at $1.0995, Ripple’s XRP returned to $1.138 levels to reverse losses from the day.
At the time of writing, Ripple’s XRP was down by 0.17% to $1.13609.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP would need to move through the $1.1412 pivot to bring the first major resistance level at $1.1783 into play.
Support would be needed, however, for Ripple’s XRP to break out from $1.15 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $1.1815 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.2186.
Failure to move through the $1.1412 pivot would bring the first major support level at $1.1009 into play.
Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.05 levels. The 38.2% FIB of $1.0659 and the second major support level at $1.0639 should limit the downside.
First Major Support Level: $1.1009
Pivot Level: $1.1412
First Major resistance Level: $1.1783
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
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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.