Ethereum
Ethereum was bullish for the better part of Tuesday. By the end of the day, it was up by 3%.
Ethereum started trading bullish Tuesday. This followed a bullish reversal in late Monday trading after Ethereum hit a low of $4023.30.
Bulls were in control for the better part of Tuesday morning, and just before daybreak, Ethereum broke through the 23.6% Fibonacci resistance at $4149.68.
However, Ethereum could not sustain momentum above the 23.6% Fibonacci resistance level with the broader market overall bearish.
What followed was a correction, and by mid-morning, Ethereum had hit the multi-week support at $4108.12.
This support held strong, and Ethereum bounced off it, triggering a continuation of the bullish momentum that had started earlier in the day.
The rally was quite strong, and by midday, bulls had pushed Ethereum through the 38.2% Fibonacci resistance at $4268.70.
However, this was followed by a sharp reversal that saw Ethereum retest the 23.6% Fibonacci, then support, at $4149.68.
The 23.6% Fib support held and saw bulls take control from that point. Ethereum had pushed through two key resistance levels by the end of the day, namely the 38.2% Fibonacci at $4268.70 and the 50.0% Fibonacci resistance at $4365.05.
Ethereum started Wednesday trading bearish. This saw it lose control of the 50.0% Fibonacci resistance within the first hour of the day.
The selloff was quite strong, and by daybreak, bears had breached the 38.2% Fibonacci, now support at $4268.70.
At the time of going to press, Ethereum had made a slight pullback and retested the 38.2% Fibonacci, now resistance, at $4268.70.
A glance at the day ahead
The key levels to watch in the day are the 38.2% Fibonacci resistance at $4268.05 and the 23.6% Fibonacci support at $4149.68.
If bulls take control and push Ethereum through the 38.2% Fibonacci resistance, the next key level to watch would be the 50.0% Fibonacci resistance at $4365.05.
If this resistance is broken, then prices above $4400 could be seen in the day.
On the other hand, if bears take control and breach the 23.6% Fibonacci support, the next key level to watch would be the multi-week support at $4108.12.
If this support is broken, then Ethereum could test prices below $4000 in the day.
However, if volumes drop, Ethereum could trade between the 38.2% resistance at $4268.70 and the 23.6% Fibonacci support at $4149.68.
A glance at the technicals
Key resistance: 38.2% Fibonacci at $4268.70
Key support: 23.6% Fibonacci at $4149.68
Litecoin
Litecoin was bullish all through Tuesday, albeit with low volumes.
By the end of the day, it was up by 1%.
Litecoin started Tuesday trading bullish after bears lost momentum in late Monday trading.
However, momentum was weak, and just before daybreak, Litecoin-bears retook control.
Bears were in control until mid-morning when Litecoin hit intraday support at $206.31.
This support proved to be quite strong, and Litecoin bounced off it. Litecoin was in the green until late afternoon when it hit weekly resistance at $214.66.
Bears attempted to take control at this support but failed. This saw bulls regain control, and by the end of the day, Litecoin was trading at $214.66 weekly resistance.
Litecoin started Wednesday trading bullish, a continuation of Tuesday’s momentum. Within the first three hours of the day, Litecoin had hit the 23.6% Fibonacci resistance at $218.64.
However, bulls were not strong enough to push Litecoin through this resistance. What followed was a huge correction through the weekly resistance, now support, at daybreak.
However, bears were not strong enough to push Litecoin to the intra-day support at $206.31.
This saw bulls retake control, and at the time of going to press, Litecoin was testing the weekly resistance at $214.66.
A glance at the day ahead
The key levels to watch in the day are the weekly resistance at $218.64 and the intra-day support at $206.31.
If bulls take control and push Litecoin through the weekly resistance, the next key level to watch would be the 23.6% Fibonacci resistance at $218.64.
If this resistance is broken, then prices above $222 could be seen in the day.
On the other hand, if bears take control and breach the intra-day support at $206.31, the next key level to watch would be the multi-month support at $199.30.
If this support is broken, Litecoin could test prices below $180 in the day.
However, if volumes drop, Litecoin could trade between the weekly resistance at $214.66 and the intra-day support at $206.31.
A glance at the technicals
Key resistance: Weekly resistance at $214.66
Key support: Intraday support at $206.31
Ripple XRP
Ripple XRP had a mixed day on Tuesday but still ended the day higher by 1.2%.
XRP started the day bullish after hitting intraday support at $1.03037 in late Monday trading.
XRP rallied off this support in early morning trading, but just before daybreak, bulls lost control.
What followed was a correction back to the intra-day support at $1.03037 by mid-morning.
Bears tried to push XRP through this support but failed. This triggered a bullish reversal that lasted the whole day.
By the end of the day, XRP was trading at the 23.6% Fibonacci resistance at $1.06353.
XRP started Wednesday trading bearish after bullish momentum faded at the 23.6% Fibonacci resistance.
Bears were in control all morning, and at the time of going to press, XRP was close to the intra-day support at $1.03037.
A glance at the day ahead
The key levels to watch in the day are the 23.6% Fibonacci resistance at $1.06353 and the intra-day support at $1.03037.
If bulls take control and push XRP through the 23.6% resistance, the next key level to watch would be the 38.2% Fibonacci resistance at $1.09337.
If this resistance is broken, then prices above $1.10 could be seen in the day.
On the other hand, if bears take control and breach the intra-day support at $1.03037, the next key level to watch would be the multi-month support at $1.01521.
If this support is broken, then XRP could test prices below $1 in the day.
However, if volumes drop, XRP could trade between the 23.6% resistance at $1.06353 and the intra-day support at $1.03037.
A glance at the technicals
Key resistance: 23.6% Fibonacci at $1.06353
Key support: Intraday support at $1.03037