Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 4th, 2021

Ethereum

Ethereum rallied by 5.53% on Thursday. Following a 2.74% gain on Wednesday, Ethereum ended the day at $2,856.68.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,663.02 before making a move.

Steering clear of the first major support level at $2,572, Ethereum rallied to a late morning intraday high $2,890.00.

Ethereum broke through the 38.2% FIB of $2,740 and the first major resistance level at $2,822 before easing back.

A late morning pullback saw Ethereum fall back through the first major resistance level before finding late support.

Late in the day, Ethereum broke back through the first major resistance level to end the day at $2,850 levels.

At the time of writing, Ethereum was down by 0.85% to $2,832.26. A mixed start to the day saw Ethereum rise to an early morning high $2,859.85 before falling to a low $2,823.31.

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

ETHUSD 040621 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,803 pivot to bring the first major resistance level at $2,944 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,900 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $3,000 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,150. The second major resistance level sits at $3,030.

A fall through the $2,803 pivot would bring the 38.2% FIB of $2,740 and the first major support level at $2,717 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of the second major support level at $2,576.

Looking at the Technical Indicators

First Major Support Level: $2,717

Pivot Level: $2,803

First Major Resistance Level: $2,944

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.41% on Thursday. Following a 2.33% gain on Wednesday, Litecoin ended the day at $193.58.

A bearish start to the day saw Litecoin fall to an early morning intraday low $182.03 before making a move.

Steering clear of the first major support level at $180, Litecoin rallied to a late morning intraday high $197.67.

Litecoin broke through the first major resistance level at $193 before falling back to sub-$190 levels.

Finding late support, however, Litecoin broke back through to $193 levels to deliver the upside on the day.

At the time of writing, Litecoin was down by 1.10% to $191.45. A mixed start to the day saw Litecoin rise to an early morning high $193.80 before falling to a low $191.45.

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

LTCUSD 040621 Hourly Chart

For the day ahead

Litecoin would need to avoid the $191 pivot to bring the first major resistance level at $200 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $197.67.

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

In the event of an extended breakout, Litecoin could test resistance at $215. The second major resistance level sits at $207.

A fall through the $191 pivot would bring the first major support level at $185.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $176.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $185

Pivot Level: $191

First Major Resistance Level: $200

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rose by 2.06% on Thursday. After a 1.43% gain on Wednesday, Ripple’s XRP ended the day at $1.04516.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $1.00794 before making a move.

Steering clear of the first major support level at $0.9887, Ripple’s XRP rallied to a late morning intraday high $1.07773.

Ripple’s XRP broke through the first major resistance level at $1.0569 before a slide back to $1.02 levels and into the red.

A late move back through to $1.04 levels, however, delivered the upside on the day.

At the time of writing, Ripple’s XRP was up by 0.45% to $1.04049. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.04382 before falling to a low $1.04049.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 040621 Hourly Chart

For the day ahead

Ripple’s XRP will need to move back through the $1.0436 pivot to bring the first major resistance level at $1.0793 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.07 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.07773 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.15. The second major resistance level sits at $1.1134.

Failure to move back through the $1.0436 pivot would bring the first major support level at $1.0095 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.95 levels. The second major support level at $0.9738 should limit the downside.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $1.0095

Pivot Level: $1.0436

First Major resistance Level: $1.0793

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob

The U.S Crypto Morning Session – June 3rd, 2021

It’s been a bullish start for Bitcoin and the broader crypto market. Following Wednesday’s gains, the majors found support to recover from early losses.

At the time of writing, Bitcoin, BTC to USD, was up by 3.56% to $38,914.0. Through the early hours, UTC, Bitcoin fell to an early morning current day low $37,179.0 before finding support.

Steering clear of the first major support level at $36,266, Bitcoin rose to a late morning intraday high $39,482.0.

Bitcoin broke through the first major resistance level at $38,555 to come within range of the second major resistance level at $39,533 before easing back.

The Rest of the Pack

It’s been a bullish morning for Bitcoin and the broader crypto market.

At the time of writing, Cardano’s ADA was up by 5.19% to lead the way, with Binance Coin and Chainlink up by 4.68% and by 4.39% respectively.

Ethereum (+3.96%), Litecoin (+2.59%), and Polkadot (+2.27%) also found strong support.

Bitcoin Cash SV (+0.32%), Crypto.com Coin (+1.60%), and Ripple’s XRP (+1.36%) trailed the front runners, however.

Through the early hours, the crypto total market fell to an early morning low $1,643bn before rising to a high $1,752bn. At the time of writing, the total market cap stood at $1,720bn.

Bitcoin’s dominance fell to an early low 42.12% before rising to a high 42.43%. At the time of writing, Bitcoin’s dominance stood at 42.34%.

For the Day Ahead

Bitcoin would need to avoid a fall back through the first major resistance level at $38,555 to support another run at $40,000 levels.

Support from the broader market would be needed, however, for Bitcoin to break out from the second major resistance level at $39,533.

Barring an extended rally through the afternoon, the second major resistance level would likely continue to limit the upside.

A break through to $40,000 levels, however, would bring the 38.2% FIB of $41,592 into play.

Looking beyond the support and resistance levels, we saw a bullish cross this morning, with the 50 EMA crossing through the 200 EMA. The bullish cross and a narrowing of the 100 EMA on the 200 EMA supported the upside this morning.

A fall back through the first major resistance level at $38,555 and the $37,244 pivot would bring the first major support level at $36,266 into play.

Barring an extended sell-off throughout the afternoon, however, Bitcoin should steer clear of sub-$36,000 levels. The second major support level sits at $34,955.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 3rd, 2021

Ethereum

Ethereum rose by 2.74% on Wednesday. Reversing a 2.71% fall from Tuesday, Ethereum ended the day at $2,706.64.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,552.28 before making a move.

Steering clear of the first major support level at $2,525, Ethereum rallied to a late afternoon intraday high $2,803.00.

Ethereum broke through the 38.2% FIB of $2,740 and the first major resistance level at $2,746.

A late pullback, however, saw Ethereum fall back through the first major resistance level and 38.2% FIB to end the day at sub-$2,710 levels.

At the time of writing, Ethereum was down by 0.49% to $2,693.42. A mixed start to the day saw Ethereum rise to an early morning high $2,728.00 before falling to a low $2,686.05.

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

ETHUSD 030621 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall back through the $2,687 pivot to bring the 38.2% FIB of $2,740 and the first major resistance level at $2,822 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,800 levels.

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

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,000. The second major resistance level sits at $2,938.

A fall back through the $2,687 pivot would bring the first major support level at $2,572 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,400 levels. The second major support level at $2,437 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,572

Pivot Level: $2,687

First Major Resistance Level: $2,822

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.33% on Wednesday. Partially reversing a 2.70% fall from Tuesday, Litecoin ended the day at $187.27.

A bearish start to the day saw Litecoin fall to an early morning intraday low $178.37 before making a move.

Steering clear of the first major support level at $175, Litecoin rallied to a late afternoon intraday high $191.27.

Litecoin came within range of the first major resistance level at $192 before falling back to sub-$190 levels.

At the time of writing, Litecoin was down by 0.80% to $185.77. A mixed start to the day saw Litecoin rise to an early morning high $188.54 before falling to a low $185.48.

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

LTCUSD 030621 Hourly Chart

For the day ahead

Litecoin would need to move back through the $186 pivot to bring the first major resistance level at $193 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $195 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $210. The second major resistance level sits at $199.

Failure to move back through the $186 pivot would bring the first major support level at $180 and the 62% FIB of $174 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$170. The second major support level at $173 should limit the downside.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $180

Pivot Level: $186

First Major Resistance Level: $193

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rose by 1.43% on Wednesday. Partially reversing a 2.91% fall from Tuesday, Ripple’s XRP ended the day at $1.02688.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.98064 before making a move.

Steering clear of the first major support level at $0.9561, Ripple’s XRP rallied to a mid-afternoon intraday high $1.04883.

Falling short of the first major resistance level at $1.0824, Ripple’s XRP fell back to sub-$1.02 levels before finding support.

A move back through to $1.02 levels delivered the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.57% to $1.02104. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.03351 before falling to a low $1.01799.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 030621 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall back through the $1.0188 pivot to bring the first major resistance level at $1.0569 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.04883.

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 test resistance at $1.10. The second major resistance level sits at $1.0870.

A fall back through the $1.0188 pivot would bring the first major support level at $0.9887 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.95 levels. The second major support level at $0.9506 should limit the downside.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.9887

Pivot Level: $1.0188

First Major resistance Level: $1.0569

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob

The U.S Crypto Morning Session – June 2nd, 2021

It’s been a bullish start for Bitcoin and the broader crypto market. Following Tuesday’s pullback, the majors slid to early lows before finding support.

At the time of writing, Bitcoin, BTC to USD, was up by 1.51% to $37,226.8. Through the early hours, UTC, Bitcoin slid to an early morning current day low $35,933.0 before finding support.

Steering clear of the first major support level at $35,592, Bitcoin rose to a late morning intraday high $37,516.0.

In spite of the morning rebound, however, Bitcoin came up short of the first major resistance level at $37,821.

BTCUSD 020621 Hourly Chart

The Rest of the Pack

At the time of writing, Chainlink was down by 0.55% to buck the trend this morning.

It’s been a bullish morning for the rest of the majors, however.

Binance Coin was up by 5.74% to lead the way, with Bitcoin Cash SV (+4.18%), Crypto.com Coin (+4.89%), and Polkadot (+3.98%) also finding strong support.

Cardano’s ADA (+1.93%), Ethereum (+2.46%), Litecoin (+0.79%), and Ripple’s XRP (+0.43%) trailed the front runners, however.

Through the early hours, the crypto total market fell to an early morning low $1,575bn before rising to a high $1,655bn. At the time of writing, the total market cap stood at $1,645bn.

Bitcoin’s dominance rose to an early high 42.74% before falling to a low 42.39%. At the time of writing, Bitcoin’s dominance stood at 42.37%.

For the Day Ahead

Bitcoin would need to avoid a fall back through the $36,740 to support another run at the first major resistance level at $37,821.

Support from the broader market would be needed, however, for Bitcoin to break out from $37,500 levels.

Barring an extended rally through the afternoon, resistance at $38,000 would likely continue to limit the upside.

A break through the first major resistance level, however, would bring resistance at $40,000 into play. The second major resistance level sits at $38,969.

Looking beyond the support and resistance levels, we saw a bullish cross this morning, with the 50 EMA crossing through the 100 EMA. The bullish cross and a narrowing of the 50 EMA on the 200 supported the rebound this morning.

A fall back through the $36,740 pivot would bring the first major support level at $35,592 back into play.

Barring an extended sell-off throughout the afternoon, however, Bitcoin should steer clear of sub-$35,000 levels. The second major support level sits at $34,511.

Dogecoin is Finally on Coinbase, 6000% Profits Later

Cryptocurrency exchange Coinbase has finally listed Dogecoin after the cryptocurrency recorded over 6,000% gain since the start of the year.

DOGE now on Coinbase Pro

One of the popular cryptocurrencies this year is Dogecoin (DOGE). Promoted by the likes of Elon Musk, Dogecoin’s popularity surged higher as it became the number one meme cryptocurrency for millions of people. Its massive rise this year led to an influx of other meme coins such as Shiba Inu, all looking to take advantage of the hungry market created by Dogecoin.

Coinbase is one of the leading crypto exchanges in the world. Unlike Binance, one of its major competitors, Coinbase is known for taking its time to analyze a coin before listing it. The crypto exchange has finally listed DOGE on its Coinbase Pro platform.

Starting yesterday, June 1, Coinbase Pro is offering its users the option to trade Dogecoin. In its blog post, Coinbase said, “Starting immediately, we will begin accepting inbound transfers of DOGE to Coinbase Pro. Trading will begin on or after 9 am Pacific Time (PT) Thursday, June 3, if liquidity conditions are met.”

Coinbase listing comes after a 6,000% rise in profit

Coinbase is late to the party in terms of listing Dogecoin. The cryptocurrency is available on numerous leading crypto exchanges, including Binance, Gemini, KuCoin, Bitfinex and others. Coinbase is listing the coin after its price surged by more than 6,000% since the start of the year.

At the start of the year, DOGE was trading at $0.004997. However, it went on a massive bull run that saw its price reach an all-time high of $0.7236 on May 7. The rally saw DOGE’s price increase by 6,000% within five months.

While the market correction has seen its price decline by roughly 50% to currently trade at $0.37 per coin, it is still up by over 4,000% year-to-date, making it one of the best investment vehicles so far in 2021.

DOGE/USD chart. Source: FXEMPIRE
DOGE/USD chart. Source: FXEMPIRE

Coinbase’s listing saw DOGE’s price go up by 14% over the past 24 hours, surpassing XRP to becoming the sixth-largest cryptocurrency by market cap. Dogecoin’s popularity could continue to increase as Elon Musk has teased with the idea of Tesla accepting the cryptocurrency as a means of payment. Only a few cryptocurrencies are as intriguing as Dogecoin at the moment!

The Crypto Daily – Movers and Shakers – June 2nd, 2021

Bitcoin, BTC to USD, fell by 1.63% on Tuesday. Partially reversing a 4.69% gain from Monday, Bitcoin ended the day at $36,673.0.

A bullish start to the day saw Bitcoin rally to an early morning intraday high $37,888.0 before hitting reverse.

Falling short of the first major resistance level at $38,489, Bitcoin slid to an early afternoon intraday low $35,659.0.

Steering clear of the first major support level at $35,116, Bitcoin revisited $37,200 levels before falling back into the red.

The near-term bullish trend remained intact in spite of the recent slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Binance Coin rose by 2.38% to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Chainlink slid by 4.36% to lead the way down.

Bitcoin Cash SV (-3.82%), Crypto.com Coin (-3.60%), Ethereum (-2.71%), and Litecoin (-2.70%), and Ripple’s XRP (-2.91%) also struggled.

Cardano’s ADA (-0.15%), and Polkadot (-0.37%) saw modest losses on the day, however.

In the current week, the crypto total market fell to a Monday low $1,451bn before rising to a Tuesday high $1,681bn. At the time of writing, the total market cap stood at $1,591bn.

Bitcoin’s dominance rose to a Monday high 44.12% before falling to a Tuesday low 42.23%. At the time of writing, Bitcoin’s dominance stood at 42.67%.

This Morning

At the time of writing, Bitcoin was down by 1.16% to $36,247.0. A mixed start to the day saw Bitcoin rise to an early morning high $36,888.0 before falling to a low $36,233.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (+0.06%), Crypto.com Coin (+0.91%), and Polkadot (0.86%) bucked the trend early on.

It was a bearish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP was down by 1.80% to lead the way down.

BTCUSD 020621 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $36,740 to bring the first major resistance level at $37,821 into play.

Support from the broader market would be needed for Bitcoin to break back through to $38,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $37,888.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $40,000. The second major resistance level sits at $38,969.

Failure to move back through the pivot at $36,740 would bring the first major support level at $35,592 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$35,000 levels. The second major support level sits at $34,511.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 2nd, 2021

Ethereum

Ethereum fell by 2.71% on Tuesday. Partially reversing a 13.38% rally from Monday, Ethereum ended the day at $2,634.42.

A bullish start to the day saw Ethereum rally to an early morning intraday high $2,748.00 before hitting reverse.

Coming up against the 38.2% FIB of $2,740, Ethereum slid to a late afternoon intraday low $2,527.88.

Steering clear of the first major support level at $2,415, Ethereum moved back through to $2,600 levels to limit the downside.

At the time of writing, Ethereum was down by 0.35% to $2,625.33. A mixed start to the day saw Ethereum rise to an early morning high $2,649.00 before falling to a low $2,625.33.

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

ETHUSD 020621 Hourly Chart

For the day ahead

Ethereum would need to move back through the $2,637 pivot to bring the 38.2% FIB of $2,740 and the first major resistance level at $2,746 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,700 levels.

Barring an extended crypto rally, the 38.2% FIB of $2,740 and the first major resistance level would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,000. The second major resistance level sits at $2,857.

Failure to move back through the $2,637 pivot would bring the first major support level at $2,525 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,400 levels. The second major support level at $2,417 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,525

Pivot Level: $2,637

First Major Resistance Level: $2,746

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 2.70% on Tuesday. Partially reversing a 10.21% gain from Monday, Litecoin ended the day at $182.98.

A bullish start to the day saw Litecoin strike an early morning intraday high $193.28 before hitting reverse.

Falling short of the first major resistance level at $197, Litecoin slid to an early afternoon intraday low $175.98.

Steering clear of the 62% FIB of $174 and the first major support level at $172, Litecoin revisited $185 levels before easing back.

At the time of writing, Litecoin was down by 0.37% to $182.31. A mixed start to the day saw Litecoin rise to an early morning high $184.12 before falling to a low $182.10.

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

LTCUSD 020621 Hourly Chart

For the day ahead

Litecoin would need to move through the $184 pivot to bring the first major resistance level at $192 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $210. The second major resistance level sits at $201.

Failure to move through the $184 pivot would bring the first major support level at $175 and the 62% FIB of $174 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$170. The second major support level sits at $167.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $175

Pivot Level: $184

First Major Resistance Level: $192

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP fell by 2.91% on Tuesday. Partially reversing Monday’s 15.12% rally, Ripple’s XRP ended the day at $1.01077.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $1.09942 before hitting reverse.

Coming up against the first major resistance level at $1.1011, Ripple’s XRP slid to a late intraday low $0.97312.

Steering clear of the first major support level at $0.9311, Ripple’s XRP moved back through to $1.00 levels to limit the downside.

At the time of writing, Ripple’s XRP was down by 0.53% to $1.00538. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.01888 before falling to a low $1.00433.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 020621 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $1.0278 pivot to bring the first major resistance level at $1.0824 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.05 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $1.10 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20. The second major resistance level sits at $1.1541.

Failure to move through the $1.0278 pivot would bring the first major support level at $0.9561 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.90 levels. The second major support level at $0.9015 should limit the downside.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.9561

Pivot Level: $1.0278

First Major resistance Level: $1.0824

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob

The U.S Crypto Morning Session – June 1st, 2021

It’s been a bearish start for Bitcoin and the broader crypto market. Following Monday’s bullish start to the week, the majors hit early highs before hitting reverse.

At the time of writing, Bitcoin, BTC to USD, was down by 2.29% to $36,427.3. Through the early hours, UTC, Bitcoin rose to a first hour intraday high $37,888.0 before hitting reverse.

Falling short of the first major resistance level at $38,489, Bitcoin slid to a late morning intraday low $35,940.0.

Steering clear of the first major support level at $35,116, Bitcoin found late morning support to return to $36,000 levels.

BTCUSD 010621 Hourly Chart

The Rest of the Pack

At the time of writing, Chainlink was down by 6.11% to lead the way.

Bitcoin Cash SV (-3.36%), Crypto.com Coin (-2.00%), Ethereum (-3.67%), and Litecoin (-3.82%) also struggled early on.

Binance Coin (-0.73%), Cardano’s ADA (-1.09%), Polkadot (-0.88%), and Ripple’s XRP (-1.75%) saw relatively modest losses, however.

Through the early hours, the crypto total market rose to an early morning high $1,657bn before falling to a low $1,565bn. At the time of writing, the total market cap stood at $1,590bn.

Bitcoin’s dominance rose to an early high 43.00% before falling to a low 42.61%. At the time of writing, Bitcoin’s dominance stood at 42.79%.

For the Day Ahead

Bitcoin would need to avoid a fall back through the $36,324 to support another run at the first major resistance level at $38,489.

Support from the broader market would be needed, however, for Bitcoin to break out from this morning’s high $37,888.0 and return to $38,000 levels.

Barring an extended rally through the afternoon, resistance at $38,000 would likely continue to limit the upside.

A break through the first major resistance level, however, would bring the 38.2% FIB of $41,592 into play. The second major resistance level sits at $39,697.

Looking beyond the support and resistance levels, the 50 EMA has narrowed on the 100 EMA but has failed to cross leading to the morning pullback.

A fall back through the $36,324 pivot would bring the first major support level at $35,116 back into play.

Barring an extended sell-off throughout the afternoon, however, Bitcoin should steer clear of sub-$35,000 levels. The second major support level sits at $32,951.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 1st, 2021

Ethereum

Ethereum rallied by 13.38% on Monday. Following a 4.69% gain on Sunday, Ethereum ended the month down by 2.50% to $2,707.12.

A bearish start to the day saw Ethereum fall to an early morning intraday low $2,275.22 before making a move.

Steering clear of the first major support level at $2,220, Ethereum rallied to a late intraday high $2,719.49.

Ethereum broke through first major resistance level at $2,518 and the second major resistance level at $2,649.

While coming up short of the 38.2% FIB of $2,740, Ethereum ended the day at $2,700 levels.

At the time of writing, Ethereum was up by 0.51% to $2,721.01. A mixed start to the day saw Ethereum fall to an early morning low $2,691.32 before rising to a high $2,731.07.

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

ETHUSD 010621 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,567 pivot to bring the 38.2% FIB of $2,740 and the first major resistance level at $2,859 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,800 levels.

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

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,100. The second major resistance level sits at $3,012.

A fall through the $2,567 pivot would bring the first major support level at $2,415 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level sits at $2,123.

Looking at the Technical Indicators

First Major Support Level: $2,415

Pivot Level: $2,567

First Major Resistance Level: $2,859

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rallied by 10.21% on Monday. Following a 4.00% gain on Sunday, Litecoin ended the month down by 30.76% to $188.05.

A bearish start to the day saw Litecoin fall to an early morning intraday low $163.70 before making a move.

Steering clear of the first major support level at $157, Litecoin rallied to a late intraday high $188.50.

Litecoin broke through the 62% FIB of $174 and the first major resistance level at $183 to end the day at $188 levels.

At the time of writing, Litecoin was up by 1.04% to $190.00. A mixed start to the day saw Litecoin fall to an early morning low $187.02 before rising to a high $190.00.

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

LTCUSD 010621 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $180 pivot to bring the first major resistance level at $197 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $195 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $210. The second major resistance level sits at $205.

A fall through the $180 pivot would bring the 62% FIB of $174 and the first major support level at $172 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$170. The second major support level sits at $155.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $180

First Major Resistance Level: $197

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP jumped by 15.12% on Monday. Following on from a 9.01% rally on Sunday, Ripple’s XRP ended the month down by 34.94% to $1.04118.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.88080 before making a move.

Steering clear of the 62% FIB of $0.8573 and the first major support level at $0.8254, Ripple’s XRP rallied to a late intraday high $1.05080.

Ripple’s XRP broke through the first major resistance level at $0.9590 and the second major resistance level at $1.0127 to end the day at $1.04 levels.

At the time of writing, Ripple’s XRP was up by 1.75% to $1.05937. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.03300 before rising to a high $1.06284.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 010621 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.9909 pivot to bring the first major resistance level at $1.0110 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $1.06284.

Barring an extended crypto rally, the first major resistance level and resistance at $1.10 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20. The second major resistance level sits at $1.1609.

A fall through the $0.9909 pivot would bring the first major support level at $0.9311 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 62% FIB of $0.8573. The second major support level sits at $0.8209.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.9311

Pivot Level: $0.9909

First Major resistance Level: $1.1011

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob

The U.S Crypto Morning Session – May 31st, 2021

It’s been a bullish start for Bitcoin and the broader crypto market. Following Sunday’s bullish end to the week, the majors reversed losses from the start of the day.

At the time of writing, Bitcoin, BTC to USD, was up by 4.28% to $37,137.0. Through the early hours, UTC, Bitcoin fell to a mid-morning low $34,160.0 before rising to a late morning high $37,199.0.

While steering clear of the first major support level at $33,848, Bitcoin broke through the first major resistance level at $36,900.

BTCUSD 310521 Hourly Chart

The Rest of the Pack

Across the rest of the majors, it has been a mixed morning.

Bitcoin Cash SV was down by 1.56% to buck the trend through the morning.

It was a bullish morning for the rest of the majors, however.

Crypto.com Coin and Ripple’s XRP were up by 12.33% and by 12.40% to lead the way.

Binance Coin (+7.89%), Chainlink (+9.60%), Ethereum (+8.04%), and Litecoin (+8.36%) also found strong support.

Cardano’s ADA (+6.41%) and Polkadot (+2.68%) trailed the front runners, however.

Through the early hours, the crypto total market fell to an early morning low $1,450bn before rising to a high $1,614bn. At the time of writing, the total market cap stood at $1,600bn.

Bitcoin’s dominance rose to an early high 44.14% before falling to a low 43.24%. At the time of writing, Bitcoin’s dominance stood at 43.51%.

For the Day Ahead

Bitcoin would need to avoid a fall back through the first major resistance level at $36,900 to support a run at $40,000 levels.

Support from the broader market would be needed, however, for Bitcoin to break out from the second major resistance level at $38,185.

Barring an extended rally through the afternoon, resistance at $38,000 would likely continue to limit the upside.

A move back through the $39,000 levels, however, would bring the 38.2% FIB of $41,592 into play. The third major resistance level sits at $41,237.

Looking beyond the support and resistance levels, the 50 EMA has narrowed on the 100 EMA supporting the early upside.

A fall back through the first major resistance level to sub-$36,000 levels would bring sub-$35,000 levels into play.

Barring an extended sell-off throughout the afternoon, however, Bitcoin should steer clear of the first major support level at $33,848.

The Crypto Daily – The Movers and Shakers – May 31st, 2021

Bitcoin, BTC to USD, rose by 2.97% on Sunday. Reversing a 3.05% decline on Saturday, Bitcoin ended the week up by 3.01% to $35,614.0.

A bearish start to the day saw Bitcoin slide to an early morning intraday low $33,367 before making a move.

Steering clear of the first major support level at $33,000, Bitcoin rose to a mid-day intraday high $36,419.0.

Falling short of the first major resistance level at $36,764, Bitcoin fell back to sub-$35,100 levels before finding support.

Bitcoin briefly revisited $36,200 levels before ending the day at $35,600 levels.

The near-term bullish trend remained intact in spite of the recent slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Sunday.

Cardano’s ADA jumped by 12.36% to lead the way, with Ripple’s XRP rallying by 9.01%.

Binance Coin (+6.79%), Chainlink  (+5.67%), Ethereum (+4.69%), and Litecoin (+4.00%) also found strong support.

Bitcoin Cash SV (+3.63%), Crypto.com Coin (+0.72%), and Polkadot (+0.01%) trailed the front runners, however.

It was a bullish week for the majors, however.

Chainlink surged by 33.54% to lead the way, with Binance Coin (+24.78%), Cardano’s ADA (+19.95%), and Litecoin (+19.62%) also making solid gains.

Bitcoin Cash SV (+16.79%), Crypto.com Coin (+17.17%), Ethereum (+13.72%), Polkadot (+11.26%), and Ripple’s XRP (+14.14%) trailed the front runners, however.

In the week, the crypto total market fell to a Monday low $1,369bn before rising to a Wednesday high $1,786bn. At the time of writing, the total market cap stood at $1,504bn.

Bitcoin’s dominance rose to a Monday high 47.07% before falling to a Thursday low 42.68%. At the time of writing, Bitcoin’s dominance stood at 43.96%.

This Morning

At the time of writing, Bitcoin was down by 1.09% to $35,226.0. A mixed start to the day saw Bitcoin rise to an early morning high $35,959.0 before falling to a low $35,201.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin (+0.63%), Polkadot (+0.67%), and Ripple’s XRP (+1.38%) bucked the trend with early gains.

It was a bearish start for the rest of the majors, however.

At the time of writing, Binance Coin was down by 1.48% to lead the way down.

BTCUSD 310521 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the pivot level at $35,133 to bring the first major resistance level at $36,900 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $36,419.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $37,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $40,000 levels. The second major resistance level sits at $38,185.

Failure to avoid the pivot at $35,133 would bring the first major support level at $33,848 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $32,081.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 31st, 2021

Ethereum

Ethereum rose by 4.69% on Sunday. Reversing a 5.49% loss from Saturday, Ethereum ended the week up by 13.72% to $2,387.66.

A bearish start to the day saw Ethereum fall to an early morning intraday low $2,182.2 before making a move.

Steering clear of the first major support level at $2,134, Ethereum rallied to a late morning intraday high $2,480.69.

Falling short of the first major resistance level at $2,501, Ethereum eased back to sub-$2,400 levels.

At the time of writing, Ethereum was down by 0.38% to $2,378.50. A bearish start to the day saw Ethereum fall from an early morning high $2,387.76 to a low $2,366.68.

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

ETHUSD 310521 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,350 pivot to bring the first major resistance level at $2,518 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,480.69 levels.

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

In the event of a broad-based crypto rally, Ethereum could test resistance at the 38.2% FIB of $2,740. The second major resistance level sits at $2,649.

A fall through the $2,350 pivot would bring the first major support level at $2,220 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,052 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,220

Pivot Level: $2,350

First Major Resistance Level: $2,518

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 4.00% on Sunday. Partially reversing a 7.53% slide from Saturday, Litecoin ended the week up by 19.62% to $170.72.

A bearish start to the day saw Litecoin slide to an early morning intraday low $155.28 before making a move.

Steering clear of the first major support level at $151.64, Litecoin rallied to a mid-day intraday high $181.20.

While falling short of the first major resistance level at $183, Litecoin broke back through the 62% FIB of $174.

A bearish 2nd half of the day, however, saw Litecoin fall back through the 62% FIB to end the day at sub-$171 levels.

At the time of writing, Litecoin was up by 0.42% to $171.44. A mixed start to the day saw Litecoin fall to an early morning low $168.57 before rising to a high $171.62.

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

LTCUSD 310521 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall back through the $169 pivot to bring the 62% FIB of $174 and the first major resistance level at $183 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $180 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $181.20 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200. The second major resistance level sits at $195.

A fall back through the $169 pivot would bring the first major support level at $157 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$150. The second major support level sits at $143.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $157

Pivot Level: $169

First Major Resistance Level: $183

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rallied by 9.01% on Sunday. Reversing a 7.48% slide from Saturday, Ripple’s XRP ended the week up by 14.14% to $0.90521.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.79936 before making a move.

Steering clear of the first major support level at $0.7707, Ripple’s XRP rallied to a late afternoon intraday high $0.93292.

Ripple’s XRP broke through the 62% FIB of $0.8573 and the first major resistance level at $0.9167.

A bearish end to the day, however, saw Ripple’s XRP ease back to end the day at sub-$0.91 levels.

At the time of writing, Ripple’s XRP was up by 2.07% to $0.92392. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.89890 before rising to a high $0.92756.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 310521 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.8792 pivot to bring the first major resistance level at $0.9590 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.93292.

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 test resistance at $1.10. The second major resistance level sits at $1.0127.

A fall through the $0.8792 pivot would bring the 62% FIB of $0.8573 and the first major support level at $0.8254 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7456.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.8254

Pivot Level: $0.8792

First Major resistance Level: $0.9590

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob

The Crypto Daily – Movers and Shakers – May 30th, 2021

Bitcoin, BTC to USD, fell by 3.05% on Saturday. Following a 7.46% slide from Friday, Bitcoin ended the day at $34,574.0.

A bullish start to the day saw Bitcoin rise to a mid-morning intraday high $37,381.0 before hitting reverse.

Falling short of the first major resistance level at $38,126, Bitcoin slid to a late afternoon intraday low $33,617.0.

The extended sell-off saw Bitcoin fall through the first major support level at $33,958 before briefly revisiting $35,000 levels.

A bearish end to the day, however, left Bitcoin at sub-$35,000 levels.

The near-term bullish trend remained intact in spite of the recent slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Saturday.

Chainlink slid by 8.98% to lead the way down.

Binance Coin (-7.27%), Cardano’s ADA (-7.24%), Crypto.com Coin (-6.32%), Ethereum (-5.49%), Litecoin (-7.53%), and Ripple’s XRP (-7.48%) also struggled.

Bitcoin Cash SV (-0.14%) and Polkadot (-4.05%) saw relatively modest losses on the day.

In the current week, the crypto total market fell to a Monday low $1,369bn before rising to a Wednesday high $1,787bn. At the time of writing, the total market cap stood at $1,444bn.

Bitcoin’s dominance rose to a Monday high 47.06% before falling to a Thursday low 42.67%. At the time of writing, Bitcoin’s dominance stood at 44.39%.

This Morning

At the time of writing, Bitcoin was down by 1.12% to 36,500.0. A mixed start to the day saw Bitcoin rise to an early morning high $37,089.0 before falling to a low $36,485.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Chainlink was down by 2.48% to lead the way down.

BTCUSD 300521 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $35,191 to bring the first major resistance level at $36,764 into play.

Support from the broader market would be needed for Bitcoin to break out from $35,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $37,381.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $40,000 levels. The second major resistance level sits at $38,955.

Failure to move through the pivot at $35,191 would bring the first major support level at $33,000 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $31,427 should limit the downside.

The Crypto Daily – Movers and Shakers – May 29th, 2021

Bitcoin, BTC to USD, slid by 7.46% on Friday. Following a 1.95% decline on Thursday, Bitcoin ended the day at $35,661.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $38,889.0 before hitting reverse.

Falling short of the first major resistance level at $40,284, Bitcoin slid to a late intraday low $34,721.0.

The extended sell-off saw Bitcoin fall through the first major support level at $37,005 and the second major support level at $35,474.

Finding late support, Bitcoin broke back through the second major support level to end the day at $35,600 levels.

The near-term bullish trend remained intact in spite of the recent slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Friday.

Binance Coin (-11.03%), Ethereum (-12.07%), Chainlink (-12.05%), and Crypto.com Coin (-11.23%) led the way down.

Bitcoin Cash SV (-9.76%), Cardano’s ADA (-8.61%), Litecoin (-8.75%), and Ripple’s XRP (-7.71%) also struggled.

Polkadot saw a more modest 3.86% loss on the day.

In the current week, the crypto total market fell to a Monday low $1,369bn before rising to a Wednesday high $1,787bn. At the time of writing, the total market cap stood at $1,543bn.

Bitcoin’s dominance rose to a Monday high 47.06% before falling to a Thursday low 42.67%. At the time of writing, Bitcoin’s dominance stood at 43.63%.

This Morning

At the time of writing, Bitcoin was up by 0.84% to $35,961.7. A mixed start to the day saw Bitcoin fall to an early morning low $35,649.8 before rising to a high $36,075.0.

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

Elsewhere, it was also a mixed start to the day.

Crypto.com Coin was down by 3.37% to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Bitcoin Cash SV was up by 5.63% to lead the way.

BTCUSD 290521 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $36,424 to bring the first major resistance level at $38,126 into play.

Support from the broader market would be needed for Bitcoin to break back through to $38,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $38,889.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $40,000 levels. The second major resistance level sits at $40,592.

Failure to move through the pivot at $36,424 would bring the first major support level at $33,958 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $32,256 should limit the downside.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 29th, 2021

Ethereum

Ethereum tumbled by 12.07% on Friday. Following a 4.98% decline on Thursday, Ethereum ended the day at $2,413.81.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,762.91 before hitting reverse.

Falling short of the first major resistance level at $2,880, Ethereum slid to a late intraday low $2,329.2.

Ethereum fell through the 38.2% FIB of $2,740 and the first major support level at $2,720.

The extended sell-off also saw Ethereum fall through the second major support level at $2,505 to end the day at $2,400 levels.

At the time of writing, Ethereum was down by 0.25% to $2,407.84. A mixed start to the day saw Ethereum fall to an early morning low $2,396.20 before rising to a high $2,434.53.

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

ETHUSD 290521 Hourly Chart

For the day ahead

Ethereum would need to move through the $2,502 pivot to bring the first major resistance level at $2,675 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $2,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at the 38.2% FIB of $2,740 would likely cap any upside.

In the event of a broad-based crypto rebound, Ethereum could test resistance at $3,000. The second major resistance level sits at $2,936.

Failure to move through the $2,502 pivot would bring the first major support level at $2,241 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,068 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,241

Pivot Level: $2,502

First Major Resistance Level: $2,675

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 8.75% on Friday. Following on from a 2.43% decline on Thursday, Litecoin ended the day at $177.41.

A mixed start to the day saw Litecoin rise to an early morning intraday high $198.92 before hitting reverse.

Falling short of the first major resistance level at $209, Litecoin slid to a late intraday low $165.50.

The extended sell-off saw Litecoin fall through the first major support level at $180 and the 62% FIB of $175.

Finding support at the second major support level at $166, Litecoin broke back through the 62% FIB to end the day at $177 levels.

At the time of writing, Litecoin was down by 0.23% to $177.01. A mixed start to the day saw Litecoin rise to an early morning high $179.91 before falling to a low $176.53.

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

LTCUSD 290521 Hourly Chart

For the day ahead

Litecoin would need to move through the $181 pivot to bring the first major resistance level at $196 into play.

Support from the broader market would be needed, however, for Litecoin to breakout from $190 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $198.92 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $210. The second major resistance level sits at $214.

Failure to move through the $181 pivot would bring the 62% FIB of $174 and the first major support level at $162 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$160. The second major support level sits at $147.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $162

Pivot Level: $181

First Major Resistance Level: $196

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP slid by 7.71% on Friday. Following a 5.79% fall on Thursday, Ripple’s XRP ended the day at $0.89936.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.98495 before hitting reverse.

Falling short of the first major resistance level at $1.0317, Ripple’s XRP tumbled to a late morning intraday low $0.84603.

Ripple’s XRP fell through the first major support level at $0.9224 and the second major support level at $0.8739.

The extended sell-off also saw Ripple’s XRP fall through the 62% FIB of $0.8573 before briefly revisiting $0.91 levels.

A bearish end to the day, however, saw Ripple’s XRP fall back to end the day at sub-$0.90 levels.

Support at the second major support level at $0.8739 and the 62% FIB of $0.8573 were both tested late in the day.

At the time of writing, Ripple’s XRP was down by 0.21% to $0.89744. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.90727 before falling to a low $0.89653.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 290521 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.9101 pivot to bring the first major resistance level at $0.9742 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.95 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $0.98495 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.10. The second major resistance level sits at $1.0490.

Failure to move through the $0.9101 pivot would bring the 62% FIB of $0.8573 and the first major support level at $0.8353 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7712.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.8353

Pivot Level: $0.9101

First Major resistance Level: $0.9742

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob

The U.S Crypto Morning Session – May 28th, 2021

It’s been a bearish start for Bitcoin and the broader crypto market. After Thursday’s pullback, caution continued through the early hours.

At the time of writing, Bitcoin, BTC to USD, was down by 6.43% to $36,059.8. Through the early hours, UTC, Bitcoin rose to an early morning high $38,889.0 before sliding to a late morning low $35,415.0.

The early sell-off saw Bitcoin fall through the first major support level at $37,005. Finding support at the second major support level at $35,474, Bitcoin moved back through to $36,000 levels ahead of the afternoon session.

BTCUSD 280521 Hourly Chart

The Rest of the Pack

Across the rest of the majors, it has been a particularly bearish morning.

At the time of writing, Binance Coin (-10.52%), Bitcoin Cash SV (-11.77%) and Crypto.com Coin (-12.13%) led the way down.

Chainlink (-9.54%), Ethereum (-8.65%), Litecoin (-9.54%) and Ripple’s XRP (-9.40%) were also in the deep red.

Cardano’s ADA (-7.37%) and Polkadot (-4.37%) saw relatively modest losses, however.

Through the early hours, the crypto total market rose to an early morning high $1,683bn before falling to a low $1,508bn. At the time of writing, the total market cap stood at $1,550bn.

Bitcoin’s dominance fell to an early low 42.92% before rising to a high 44.12%. At the time of writing, Bitcoin’s dominance stood at 43.37%.

For the Day Ahead

Bitcoin would need to move back through the first major support level at $37,005 and the $38,753 pivot to support a run at the first major resistance level at $40,284.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $38,889.0.

Barring a broad-based rebound through the early afternoon, resistance at $39,000 would likely continue to limit the upside.

A move back through the $40,000 levels, however, would bring the 38.2% FIB of $41,592 into play. The second major resistance level sits at $42,932.

Looking beyond the support and resistance levels, we saw a bearish cross this morning. The 50 EMA crossed through the 100 EMA delivering the markets with a bearish signal …

A fall back through to sub-$35,500 levels and the second major support level at $35,474 would bring the third major support level at $32,195 into play.

Barring another extended sell-off throughout the afternoon, however, Bitcoin should steer well clear of sub-$30,000 levels.

The Crypto Daily – The Movers and Shakers – May 28th, 2021

Bitcoin, BTC to USD, fell by 1.95% on Thursday. Partially reversing a 2.42% gain from Wednesday, Bitcoin ended the day at $38,537.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $37,221.0 before making a move.

Bitcoin fell through the first major support level at $37,807 before rising to an early afternoon intraday high $40,500.0.

Falling short of the first major resistance level at $40,840, however, Bitcoin fell back to sub-$39,000 levels and into the red.

The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Crypto.com Coin bucked the trend, rising by 4.21%.

It was a bearish day for the rest of the majors, however.

Cardano’s ADA (-7.02%) and Chainlink (-6.86%) led the way down.

Ethereum (-4.98%) and Ripple’s XRP (-5.79%) also struggled.

Binance Coin (-2.56%), Bitcoin Cash SV (-1.78%), Litecoin (-2.43%) and Polkadot (-0.39%) saw relatively modest losses on the day, however.

In the current week, the crypto total market fell to a Monday low $1,369bn before rising to a Wednesday high $1,786bn. At the time of writing, the total market cap stood at $1,681bn.

Bitcoin’s dominance rose to a Monday high 47.06% before falling to a Thursday low 42.68%. At the time of writing, Bitcoin’s dominance stood at 43.23%.

This Morning

At the time of writing, Bitcoin was up by 0.83% to $38,855.9. A mixed start to the day saw Bitcoin fall to an early morning low $38,100.0 before rising to a high $38,889.0.

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

Elsewhere, it was also a mixed start to the day.

Bitcoin Cash SV and Crypto.com Coin were down by 0.03% and by 2.99% respectively to buck the early trend.

It was a bullish start for the rest of the majors, however.

At the time of writing, Litecoin was up by 1.70% to lead the way.

BTCUSD 280521 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $38,753 to bring the first major resistance level at $40,284 into play.

Support from the broader market would be needed for Bitcoin to break back through to $40,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $40,500 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $43,000 levels. The second major resistance level sits at $42,032. Bitcoin would need plenty of support, however, to breakout from the 38.2% FIB of $41,592.

Failure to avoid a fall back through the pivot at $38,753 would bring the first major support level at $37,005 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$36,000 levels. The second major support level sits at $35,474.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 28th, 2021

Ethereum

Ethereum slid by 4.98% on Thursday. Partially reversing a 6.72% gain from Wednesday, Ethereum ended the day at $2,745.51.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,893.96 before hitting reverse.

Falling short of the first major resistance level at $2,987, Ethereum fell to an early morning intraday low $2,639.32.

Ethereum fell through the 38.2% FIB of $2,740 and the first major support level at $2,720.

Finding late morning support, Ethereum revisited $2,880 levels before another sell-off late in the day.

Ethereum fell back through the 38.2% FIB and the first major support level before ending the day at $2,745 levels.

At the time of writing, Ethereum was down by 0.58% to $2,729.68. A bearish start to the day saw Ethereum fall from an early morning high $2,745.25 to a low $2,709.44.

While leaving the major support and resistance levels untested, Ethereum fell through the 38.2S% FIB of $2,740 early on.

ETHUSD 280521 Hourly Chart

For the day ahead

Ethereum would need to move back through the 38.2% FIB of $2,740 and the $2,760 pivot to bring the first major resistance level at $2,880 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,800 levels.

Barring an extended crypto rally, the first major resistance level and resistance at Thursday’s high $2,893.96 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,000. The second major resistance level sits at $3,014.

Failure to move through the 38.2% FIB and the $2,760 pivot would bring the first major support level at $2,625 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,500 levels. The second major support level at $2,505 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,625

Pivot Level: $2,760

First Major Resistance Level: $2,880

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 2.43% on Thursday. Partially reversing an 8.28% rally from Wednesday, Litecoin ended the day at $194.41.

A bearish start to the day saw Litecoin fall to an early morning intraday low $180.61 before finding support.

Litecoin fell through the first major support level at $184 before rising to an early afternoon intraday high $208.98.

Coming up against the first major resistance level at $209, however, Litecoin slid back to end the day at $194 levels.

At the time of writing, Litecoin was down by 1.80% to $190.92. A bearish start to the day saw Litecoin fall from an early morning high $194.57 to a low $190.40.

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

LTCUSD 280521 Hourly Chart

For the day ahead

Litecoin would need to move through the $195 pivot to bring the first major resistance level at $209 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $208.98 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $230. The second major resistance level sits at $223.

Failure to move through the $195 pivot would bring the first major support level at $180 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the 62% FIB of $174. The second major support level sits at $166.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $180

Pivot Level: $195

First Major Resistance Level: $209

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP fell by 5.79% on Thursday. Reversing a 5.83% gain from Wednesday, Ripple’s XRP ended the day at $0.97083.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.04420 before hitting reverse.

Falling short of the first major resistance level at $1.0853, Ripple’s XRP fell to an early morning intraday low $0.93482.

Ripple’s XRP fell through the first major support level at $0.9650 before briefly revisiting $1.03 levels.

A bearish end to the day, however, saw Ripple’s XRP fall back to sub-$0.96 levels before ending the day at $0.97 levels.

The first major support level at $0.9650 limited the downside late in the day.

At the time of writing, Ripple’s XRP was down by 1.16% to $0.95955. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.97450 to a low $0.95799.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 280521 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.9833 pivot to bring the first major resistance level at $1.0317 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.00 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.04420 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.15. The second major resistance level sits at $1.0927.

Failure to move through the $0.9833 pivot would bring the first major support level at $0.9224 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.90 levels. The second major support level sits at $0.8739.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.9224

Pivot Level: $0.9833

First Major resistance Level: $1.0317

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob

The U.S Crypto Morning Session – May 27th, 2021

It’s been a mixed start for Bitcoin and the broader crypto market. After Wednesday’s bullish session, caution returned through the early hours.

At the time of writing, Bitcoin, BTC to USD, was up by 0.87% to $39,644.8. Through the early hours, UTC, Bitcoin fell to a current day low $37,221.0 before striking a late morning high $39,799.0.

BTCUSD 270521 Hourly Chart

The early sell-off saw Bitcoin fall through the first major support level at $37,807.

In spite of the recovery, however, Bitcoin came up well short of the first major resistance level at $40,840. Resistance at $40,000 proved too strong once more.

The Rest of the Pack

Across the rest of the majors, it has been a mixed morning.

At the time of writing, Chainlink (+2.07%) and Crypto.com Coin (+5.30%) joined Bitcoin in the green to buck the trend early on.

It’s been a bearish morning for the rest of the majors, however.

Bitcoin Cash SV was down by 4.49% to lead the way down, with Ethereum (-3.07%) and Polkadot (-3.11%) also struggling.

Binance Coin (-1.25%),Cardano’s ADA (-2.13%), Litecoin (-0.06%) and Ripple’s XRP (-1.25%) saw relatively modest losses, however.

Through the early hours, the crypto total market rose to an early morning high $1,723bn before falling to a low $1,604bn. At the time of writing, the total market cap stood at $1,709bn.

Bitcoin’s dominance fell to an early low 42.69% before rising to a high 43.45%. At the time of writing, Bitcoin’s dominance stood at 43.37%.

For the Day Ahead

Bitcoin would need to avoid a fall back through the $39,346 pivot to support another run at the first major resistance level at $40,840.

Support from the broader market would be needed, however, for Bitcoin to break back through to $40,000 levels.

Barring an extended rally through the early afternoon, resistance at $40,000 would likely continue to limit the upside.

A move back through the $40,000 levels, however, would bring the 38.2% FIB of $41,592 and the second major resistance level at $42,378 into play.

Looking beyond the support and resistance levels, we saw the 50 EMA pull further away from the 100 EMA delivering the markets with a bullish signal this morning…

A fall back through the $39,346 pivot would bring the first major support level at $37,807 into play.

Barring another extended sell-off throughout the afternoon, Bitcoin should steer clear of sub-$37,000 levels. The second major support level sits at $36,313.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 27th, 2021

Ethereum

Ethereum rose by 6.72% on Wednesday. Following a 2.20% gain on Tuesday, Ethereum ended the day at $2,889.84.

A bearish start to the day saw Ethereum fall to an early morning intraday low $2,647.21 before making a move.

Steering clear of the first major support level at $2,471, Ethereum rose to a late morning intraday high $2,913.68.

Ethereum broke through the 38.2% FIB of $2,740 and the first major resistance level at $2,856.

An early afternoon pullback saw Ethereum fall back through the first major resistance level and the 38.2% FIB to sub-$2,700 levels.

Finding late support, however, Ethereum moved back through to $2,800 levels to deliver the upside on the day.

Ethereum broke back through the 38.2% FIB of $2,740 and the first major resistance level at $2,856 in the late rebound.

At the time of writing, Ethereum was down by 1.05% to $2,859.55. A mixed start to the day saw Ethereum rise to an early morning high $2,893.96 before falling to a low $2,856.66.

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

ETHUSD 270521 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,817 pivot to bring the first major resistance level at $2,987 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,900 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $3,000 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,083.

Failure to avoid the $2,817 pivot would bring the first major support level at $2,720 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,600 levels. The second major support level sits at $2,550.

A sustained fall through the 62% FIB of $1,725 would form a near-term bearish trend from 12th May’s swing hi $4,384.30.

Looking at the Technical Indicators

First Major Support Level: $2,720

Pivot Level: $2,817

First Major Resistance Level: $2,987

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rallied by 8.28% on Wednesday. Reversing a 0.75% loss from Tuesday, Litecoin ended the day at $199.18.

A mixed start to the day saw Litecoin fall to an early morning intraday low $179.39 before finding support.

Steering clear of the 62% FIB of $174 and the first major support level at $169, Litecoin rose to a late morning intraday high $204.48.

Litecoin broke through the first major resistance level at $197 to test resistance at $200 before easing back.

The pullback saw Litecoin fall back through the first major resistance level to sub-$195 levels.

Finding late support, however, Litecoin broke back through the first major resistance level to end the day at $199 levels.

At the time of writing, Litecoin was up by 1.43% to $202.02. A mixed start to the day saw Litecoin fall to an early morning low $198.19 before rising to a high $202.70.

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

LTCUSD 270521 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $194 pivot to bring the first major resistance level at $209 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $204.48.

Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $230. The second major resistance level sits at $219.

Failure to avoid a fall through the $194 pivot would bring the first major support level at $184 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the 62% FIB of $174. The second major support level sits at $169.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $184

Pivot Level: $194

First Major Resistance Level: $209

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rose by 5.83% on Wednesday. Reversing a 1.60% decline from Tuesday, Ripple’s XRP ended the day at $1.03307.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.94910 before making a move.

Steering clear of the first major support level at $0.8863, Ripple’s XRP rose to a mid-morning intraday high $1.06941.

Coming up against the first major resistance level at $1.0633, Ripple’s XRP fell back to sub-$0.97 levels and into the red.

A late move back through to $1.03 levels delivered the upside on the day, however.

At the time of writing, Ripple’s XRP was up by 0.73% to $1.04061. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.02978 before rising to a high $1.04070.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 270521 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $1.0172 pivot to bring the first major resistance level at $1.0853 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.06941.

Barring an extended crypto rally, the first major resistance level and resistance at $1.10 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20. The second major resistance level sits at $1.1375.

Failure to avoid a fall through the $1.0172 pivot would bring the first major support level at $0.9650 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.90 levels. The second major support level sits at $0.8969.

A sustained fall through the 62% FIB would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.0.9650

Pivot Level: $1.0172

First Major resistance Level: $1.0853

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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

Thanks, Bob