Ethereum
Ethereum slipped by 0.35% on Sunday. Partially reversing a 2.07% gain from Saturday, Ethereum ended the day at $171.29.
A bullish start to the day saw Ethereum strike an early morning intraday high $173.98 before hitting reverse.
Falling well short of the first major resistance level at $176.12, Ethereum slid to a late afternoon intraday low $168.03.
In spite of the reversal, Ethereum held above the first major support level at $166.62.
Finding support from the broader market, Ethereum recovered to $170 levels late on to limit the downside on the day.
For the week, Ethereum fell by 7.83%, with a 7.6% tumble on Wednesday doing the damage.
The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.
At the time of writing, Ethereum was up by 0.2% to $171.64. A choppy start to the day saw Ethereum strike an early morning high $172 before falling to a low $170.54.
Steering clear of the major support and resistance levels, Ethereum moved back through to $171 levels and into the green.
For the day ahead
Ethereum would need to hold onto $171 levels to support a run at the first major resistance level at $174.17.
Support from the broader market would be needed, however, for Ethereum to break through Sunday’s high $173.98.
Barring a broad-based crypto rally, Ethereum would likely fall short of $175 levels for a 2nd consecutive day.
Failure to hold onto $171 levels could see Ethereum slide back into the red. A fall through the morning low $170.54 would bring the first major support level at $168.22 into play.
Barring a crypto meltdown, Ethereum should steer clear of sub-$167 support levels on the day.
Looking at the Technical Indicators
Major Support Level: $168.22
Major Resistance Level: $174.17
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Monero’s XMR
Monero’s XMR rallied by 6.47% on Sunday. Reversing a 0.71% loss from Saturday with interest, Monero’s XMR ended the day at $71.74.
Range-bound through most of the day, Monero’s XMR eased from an early morning high $67.57 to a late afternoon intraday low $66.92.
In spite of the pullback, Monero’s XMR held above the first major support level at $66.35.
Finding support from the broader market, Monero’s XMR rallied to a late intraday high $74.59.
Monero’s XMR broke through the major resistance levels and held above the third major resistance level at $71.17 at the day end.
The Sunday rally reduced the losses for the week to 11.1% and returned Monero’s XMR to the crypto top 10 by market cap.
For Monero’s XMR, the extended bearish trend formed at late April 2018’s swing hi $298 remained intact. The July fall back through the 23.6% FIB of $99, reaffirmed the extended bearish trend, following 15th December’s swing lo $37.18.
At the time of writing, Monero’s XMR was down by 1.1% to $70.95. A bearish start to the day saw Monero’s XMR fall from an early morning high $71.84 to a low $70.70.
Monero’s XMR left the major support and resistance levels untested early on.
For the day ahead
Monero’s XMR would need to move back through to $71.1 levels to take a run at the first major resistance level at $75.25.
Support from the broader market would be needed, however, for Monero’s XMR to break through Sunday’s high $74.59.
Barring a broad-based crypto rebound, Monero’s XMR will likely struggle to break out from $72 levels.
Failure to move back through to $71.10 levels could Monero’s XMR see red through the day.
A slide back through the morning low $70.70 would bring sub-$70 levels back into play. Barring a crypto meltdown, however, Monero’s XMR should steer clear of the first major support level at $67.58.
Looking at the Technical Indicators
Major Support Level: $67.58
Major Resistance Level: $75.25
23.6% FIB Retracement Level: $99
38.2% FIB Retracement Level: $137
62% FIB Retracement Level: $198
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Thanks, Bob
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