Ethereum

Ethereum slid by 3.69% on Tuesday. Reversing a 0.37% gain from Monday, Ethereum ended the day at $340.78.

A bullish start to the day saw Ethereum rise to an early morning intraday high $355.33 before hitting reverse.

Falling short of the first major resistance level at $357.00, Ethereum slid to a late intraday low $336.73.

Ethereum fell through the day’s major support levels before a move back through to $340 levels. The partial recovery saw Ethereum break back through the third major support level at $337.99.

At the time of writing, Ethereum was down by 0.36% to $339.55. A bearish start to the day saw Ethereum fall from an early morning high $340.86 to a low $339.54.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move through the $344.28 pivot to support another run at the first major resistance level at $351.83.

Support from the broader market would be needed, however, for Ethereum to break back through to $350 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $344.28 pivot would bring the first major support level at $333.23 into play.

Barring another extended sell-off, however, Ethereum should avoid sub-$330 levels. The second major support level sits at $325.68.

Looking at the Technical Indicators

First Major Support Level: $333.23

Pivot Level: $344.28

First Major Resistance Level: $351.83

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 0.73% on Tuesday. Following on from a 0.77% decline on Monday, Litecoin ended the day at $46.01.

It was a mixed start to the day. Litecoin rose to a late morning high $46.85 before hitting reverse.

Falling short of the first major resistance level at $47.11, Litecoin slid to a mid-afternoon intraday low $45.55.

Finding support at the first major support level at $45.57, Litecoin rallied to a late afternoon intraday high $48.22.

Litecoin broke through the first major resistance level at $47.11 and the second major resistance level at $47.87.

A late sell-off, however, saw Litecoin revisit sub-$46 levels before wrapping up the day at $46 levels. The first major support level limited the downside late in the day.

At the time of writing, Litecoin was down by 0.48% to $45.79. A bearish start to the day saw Litecoin fall from an early morning high $46.02 to a low $45.77.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move through the $46.59 pivot to support a run at the first major resistance level at $47.64.

Support from the broader market would be needed, however, for Litecoin to break back through to $47 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Litecoin could re-test resistance at $48 before any pullback. The second major resistance level sits at $49.26.

Failure to move through the $46.59 pivot level would bring the first major support level at $44.97 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$43 levels. The second major support level at $43.92 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $44.97

Pivot Level: $46.59

First Major Resistance Level: $47.64

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 2.12% on Tuesday. Reversing a 1.07% gain from Monday, Ripple’s XRP ended the day at $0.24565.

It was a bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.25929 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2545 and the second major resistance level at $0.2584.

Coming up against resistance at $0.26, Ripple’s XRP slid to a late intraday low $0.24050.

Ripple’s XRP fell through the first major support level at $0.2466 and the second major support level at $0.2426.

Finding late support, Ripple’s XRP broke back through the second major support level to end the day at $0.2450 levels.

At the time of writing, Ripple’s XRP was down by 0.29% to $0.24493. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24560 to a low $0.24488.

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 $0.2485 pivot to support a run at the first major resistance level at $0.2565.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2500.

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 re-test resistance at $0.26 before any pullback. The second major resistance level sits at $0.2673.

Failure to move through the $0.2485 pivot would bring the first major support level at $0.2377 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels. The second major support level sits at $0.2297.

Looking at the Technical Indicators

First Major Support Level: $0.2377

Pivot Level: $0.2485

First Major Resistance Level: $0.2565

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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(Excerpt) Read more Here | 2020-10-06 17:16:00
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