Ethereum
Ethereum rose slightly by 0.08% on Tuesday. Following a 4.37% increase on Monday, Ethereum closed the day at $178.96.
In a particularly volatile morning, Ethereum hit an early morning high of $180.89 before turning around.
Ethereum fell below the first major resistance level at $183.54 and fell to an intraday low of $175.14 late in the morning.
Despite the selling pressure, Ethereum managed to avoid the first major support level at $172.30.
Finding support from the broader market, Ethereum rose to an intraday high of $183.15 in the early afternoon. It fell short of the first major resistance level at $183.54 and then fell back below the $180 mark.
A late rise to the $181 level was short-lived, with Ethereum dropping to below the $180 mark at the close.
The long-term bearish trend remains strong, having formed at the high of $828.97 in late April 2018. The reversal from the year-to-date high of $364.49 in June to $257, a 23.6% FIB, reaffirmed the long-term bearish trend.
At the time of writing, Ethereum was down 0.54% to $178.0. Ethereum had a mixed start to the day, rising to an early morning high of $179.47 before falling to a low of $177.37.
Ethereum left key support and resistance levels untested early on.
For the day ahead
Ethereum would need to rally to the $179 levels before it can reach the first major resistance level at $183.03.
However, Ethereum will need support from the broader market to break out of the $180 levels.
Barring a broad-based crypto rally, Tuesday’s high of $183.15 and the first major resistance level should limit any upside.
Failure to rally to the $179 levels could see Ethereum fall from the morning lows to the S176 levels.
However, barring continued selling pressure throughout the day, Ethereum should be able to avoid the first major support level at $175.02.
View technical indicators
Key Support Level: $175.02
Key Resistance Level: $183.03
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB retracement level: $543
Monero’s XMR
Monero’s XMR rose 2.35% on Tuesday. Following a 2.41% rise on Monday, Monero’s XMR closed the day at $75.26.
After a relatively range-bound morning, Monero’s XMR fell to an intraday low of $73.18 late in the morning before finding support from the broader market.
Monero’s XMR broke well above the first major support level at $70.71 and rose to an intraday high of $75.79 in the early afternoon.
Monero’s XMR faced the first major resistance level at $75.51 before dropping back to the $74 level.
A late rally back to the $75 level brought Monero’s XMR within range of the first major resistance level at $75.51.
For Monero’s XMR, the long-term bearish trend that formed at the swing high of $298 in late April 2018 remained intact. The drop to the 23.6% FIB of $99 in July reaffirmed the long-term bearish trend 15 days later.Number The change in December was $37.18.
At the time of writing, Monero’s XMR was down 1.95% to $73.79. A weak start to the day saw Monero’s XMR fall from an early morning high of $74.97 to a low of $73.61.
Monero’s XMR avoided major resistance levels and tested the first major support level at $73.7 early on.
For the day ahead
Monero’s XMR would need to rally to the $74.7 levels before reaching the first major resistance level at $76.31.
However, support from the broader market will be needed for Monero’s XMR to break out of Tuesday’s high of $75.79.
Barring a broader crypto rally, Monero’s XMR will likely struggle to break out of the $74 levels.
If the cryptocurrency fails to bounce back to the $74.7 levels, Monero’s XMR could fall further.
A drop below the first major support level at $73.7 would bring the second major support level at $72.13 into play.
However, barring a cryptocurrency crash, Monero’s XMR should avoid the sub-$70 support level on the day.
View technical indicators
Key Support Level: $73.70
Key Resistance Level: $76.31
23.6% FIB Retracement Level: $99
38.2% FIB Retracement Level: $137
62% FIB Retracement Level: $198
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Thanks, Bob
This article originally appeared on FX Empire
