Ethereum
Ethereum was bullish for the better part of Thursday. By the end of the day, it was up by 4.1%.
Ethereum started Thursday trading bullish, and by the second hour of the day, it had pushed through the 38.2% Fibonacci resistance at $4268.70.
However, bullish momentum declined just before daybreak. What followed was a correction back to the 38.2% Fibonacci, now support.
Bears did not have the momentum to push Ethereum through this support. Bullish momentum was not strong either, leading to range-bound trading until mid-morning.
With bullish momentum in the broader market on the rise, bulls took control of Ethereum at mid-morning, and with high volumes.
In just four hours, Ethereum rallied through two key resistance levels, namely the 50.0% Fibonacci at $4365.05 and the 61.8% Fibonacci at $4461.40.
This energized bulls even further, and by the end of the day, Ethereum was trading at over $4500.
Ethereum started Friday trading in a continuation of the bullish momentum that dominated Thursday trading.
However, after such a huge run-up in price, profit-taking set in. Just before daybreak, Ethereum turned bearish and retraced back through the 61.8% Fibonacci at $4461.40.
When going to press, bears were still in control, but selling momentum was weakening.
A glance at the day ahead
The key levels to watch are the 61.8% Fibonacci resistance at $4461.40 and the 50.0% Fibonacci support at $4365.05.
If bulls take control in the day and push Ethereum through the 61.8% Fibonacci resistance at $4461.40, the next key level to watch would be the early morning high of $4549.99.
If this resistance is broken, prices above $5000 could be seen in the day, or in the course of the weekend.
However, if bears take control and push Ethereum through the 50.0% Fibonacci support, the next key level to watch would be the 38.2% Fibonacci support at $4268.70.
If this support is broken, prices below $4200 could be seen in the day, or in the course of the weekend.
If volumes drop in the day, Ethereum could trade between the 61.8% Fibonacci resistance at $4461.40 and the 50.0% Fibonacci support at $4365.05 all day.
A glance at the technicals
Key resistance: 61.8% Fibonacci at $4461.40
Key support: 50.0% Fibonacci at $4365.05
Litecoin
Litecoin was bullish all through Thursday. By the end of the day, it was up by 2.5%.
Litecoin started the day bullish, a continuation of the uptrend that had begun in late Wednesday trading.
Momentum accelerated in the first hours of the day, and at daybreak, Litecoin pushed through the 23.6% Fibonacci resistance at $218.64.
However, momentum eased up, and Litecoin had retraced back through the 23.6% Fibonacci by mid-morning.
This pullback was short-lived, though, and by early afternoon, Litecoin had pushed back through the 23.6% Fibonacci resistance and came close to testing the 38.2% Fibonacci resistance at $230.59.
However, bulls did not have the momentum to push Litecoin through the 38.2% Fibonacci resistance.
This bullish weakness saw a correction that lasted for the rest of the day. By the end of the day, Litecoin was trending towards the 23.6% Fibonacci, now support.
Litecoin started Friday trading bearish, a continuation of the selloff that started in late Thursday trading.
When going to press, Litecoin had broken the 23.6% Fibonacci support and was trading at the intra-day support at $214.66.
A glance at the day ahead
The key levels to watch are the 23.6% Fibonacci resistance at $218.64 and the intra-day support at $214.66.
If bulls take control in the day and push Litecoin through the 23.6% Fibonacci resistance at $218.64, the next key level to watch would be 38.2% Fibonacci resistance at $230.59.
If this resistance is broken, prices above $235 could be seen in the day or in the course of the weekend.
However, if bears take control and push Litecoin through the intra-day support at 214.66, the next key level to watch would be the weekly support at $206.31.
If this support is broken, prices below $200 could be seen in the day or in the course of the weekend.
On the other hand, if volumes drop in the day, Litecoin could trade in a tight range between the 23.6% Fibonacci resistance at $218.64 and the intra-day support at $214.66.
A glance at the technicals
Key resistance: 23.6% Fibonacci at $218.64
Key support: Intraday support at $214.66
Ripple XRP
Ripple XRP was bullish for most of Thursday. By the end of the day, it was up by 2%.
XRP started Thursday trading bullish after bouncing off the multi-month support in late Wednesday trading.
By the third hour of the day, XRP had pushed through $1.03037, then intraday resistance.
However, just before daybreak, XRP bulls lost momentum, triggering a correction. What followed was a correction back to $1.3037, now support.
Bears managed to push XRP through this support at mid-morning. However, with bullish momentum on the rise in the broader market, XRP quickly rallied and ate into all the losses from earlier in the day.
By late evening, XRP had rallied to the 23.6% Fibonacci at $1.06353. However, this resistance proved too strong for bulls, and in the last two hours of the day, XRP entered into a sharp correction.
XRP started Friday trading in a continuation of the correction that started in late Thursday trading.
The correction lasted the whole morning, and at the time of going to press, XRP was trading at the intra-day support at $1.03037.
A glance at the day ahead
The key levels to watch are the 23.6% Fibonacci resistance at $1.06353 and the intra-day support at $1.03037.
If bulls take control in the day and push XRP through the 23.6% Fibonacci resistance at $1.06353, the next key level to watch would be 38.2% Fibonacci resistance at $1.09337.
If this resistance is broken, prices above $1.11 could be seen in the day or in the course of the weekend.
However, if bears take control and push XRP through the intra-day support at $1.03037, the next key level to watch would be the weekly support at $1.1521.
If this support is broken, prices below $1 could be seen in the day or in the course of the weekend.
On the other hand, if volumes drop in the day, XRP could trade in a tight range between the intra-day resistance at $1.03037 and the weekly support at $1.01521.
A glance at the technicals
Key resistance: Intraday resistance at $1.03037
Key support: Weekly support at $1.01521