Ethereum
Ethereum was bearish for the better part of last week. By the end of the week, it was down by 10.3%.
Ethereum started bearish last week, a continuation of the selloff that had started a week earlier.
Monday’s selloff was quite strong and saw Ethereum eat into most of the gains it made in the previous two weeks.
The selloff accelerated on Tuesday, but bears failed to push Ethereum low enough to test the 23.6% Fibonacci support at $4026.20. This saw bulls regain control and recover most of the losses from earlier in the day.
However, with bearish momentum strong in the broader market, bears regained control on Wednesday. By the end of the day, Ethereum was trading at the 23.6% Fibonacci support at $4026.20.
This support proved to be quite strong, and on Thursday, Ethereum bounced off it. The bullish momentum was quite strong, and by the end of the day, Ethereum had eaten into all the losses from Wednesday.
Bullish momentum accelerated on Friday and into the weekend. However, bulls were not strong enough to reverse the losses from Monday’s strong selloff.
This has seen Ethereum start the new week bearish. At the time of going to press, Ethereum was close to retesting the 23.6% Fibonacci support at $4026.20.
A glance at the week ahead
The key levels to watch in the week are 23.6% Fibonacci support at $4026.20 and the all-time high at $4870.31, which is now key resistance.
If bulls take control and push Ethereum through the all-time highs at $4870.31, it could make new highs above $5000 in the week.
On the other hand, if bears take control and push Ethereum through the 23.6% Fibonacci support at $4026.20, the next key support to watch would be the 38.2% Fibonacci support at $3496.55.
If this support is broken, prices below $3400 could be seen in the week.
However, if volumes drop, Ethereum could trade between the all-time highs of $4870.31 and the 23.6% Fibonacci support at $4026.20.
A glance at technicals
Key resistance: All-time highs at $4870.31
Key support: 23.6% Fibonacci at $4026.20
Litecoin
Litecoin was bearish for the better part of last week. By the end of the week, it was down by 22.5%.
Litecoin started last week bearish, a continuation of the selloff that had started a week earlier. By the end of the day on Monday, it had pushed through the 50.0% Fibonacci support at $258.42.
On Tuesday, the selloff accelerated, and Litecoin briefly crossed through the 38.2% Fibonacci support at $221.91.
However, volumes were low, and a pullback followed, though bulls were not strong enough to eat into the losses from earlier in the day.
The selloff accelerated on Wednesday with the broader market bearish, and Litecoin pushed through the 38.2% Fibonacci support at $221.91.
After a 3-day selloff, Litecoin was getting oversold. This saw bulls take control and eat into some of the losses from Wednesday.
The upside momentum continued on Thursday when Litecoin pushed through the 38.2% Fibonacci, now resistance. However, bulls were not strong enough to sustain Litecoin through this resistance.
This saw bears take control over the weekend, and the selloff accelerated in the weekend. At the time of going to press, bears were firmly in control.
A glance at the week ahead
The key levels to watch in the week are 38.2% Fibonacci resistance at $221.91 and 23.6% Fibonacci support at $176.80.
If bulls take control and push Litecoin through the 38.2% Fibonacci resistance at $221.91, the next key level to watch would be the 50.0% Fibonacci resistance at $258.42.
If the 50.0% Fibonacci resistance is broken, prices above $280 could be seen in the week.
On the other hand, if bears take control and push Litecoin through the 23.6% Fibonacci support at $176.80, prices below $165 could be seen in the week.
However, if volumes drop in the week, Litecoin could trade between the 38.2% Fibonacci resistance at $221.91 and the 23.6% Fibonacci support at $176.80.
A glance at the technicals
Key resistance: 38.2% Fibonacci at $221.91
Key support: 23.6% Fibonacci at $176.80
Ripple XRP
Ripple XRP was bearish for the better part of last week. By the end of the week, it was down by 13%.
XRP started the week bearish, a continuation of the selloff that had started a week earlier.
By the end of Monday, it was close to testing the 38.2% Fibonacci support at $1.06165.
After such a heavy selloff on Monday, XRP was pretty much oversold by Tuesday. This saw bulls attempt to retake control in Tuesday’s trading session.
However, with the overall market momentum bearish, XRP turned strongly bearish on Wednesday. The selloff was heavy and saw XRP test the 38.2% Fibonacci support at $1.06165.
However, this support proved too strong for bears, and by Thursday, bulls regained control.
Bulls remained in control on Friday, and through the weekend, albeit with low volumes.
XRP has started the new week bearish after buying volumes thinned out over the weekend.
At the time of going to press, XRP had crossed the 38.2% Fibonacci support at $1.06165.
A glance at the week ahead
The key levels to watch in the week are 38.2% Fibonacci support at $1.06165 and 50.0% Fibonacci resistance at $1.22850.
If bulls take control and push XRP through the 50.0% Fibonacci resistance at $1.22850, the next key level to watch would be the 61.8% Fibonacci resistance at $1.39906.
If bulls push through this resistance, prices above $1.55 could be seen in the week.
On the other hand, if bears take control and push XRP through the 38.2% Fibonacci support at $1.06165, the next key support to watch would be the 23.6% Fibonacci support at $0.85031.
If this support is broken, prices below $0.70 could be seen in the week.
However, if volumes drop, XRP could trade between the 50.0% Fibonacci resistance at $1.22850 and the 38.2% Fibonacci support at $1.06165.
A glance at the technicals
Key resistance: 50.0% Fibonacci at $1.22850
Key support: 38.2% Fibonacci at $1.06165