Ethereum and Monero’s XMR were amongst the worst-performing top 10 crypto’s on Wednesday…
Ethereum slid by 4.68% on Wednesday. Following on from a 2.85% fall from Tuesday, Ethereum ended the day at $187.37.
A particularly bearish morning saw Ethereum slide from an early intraday high $197.17 to a mid-day intraday low $180.
The sell-off saw Ethereum slide through the major support levels of the day.
Finding support at $180, Ethereum managed to break back through the third major support level at $181.38 to cut the deficit on the day.
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 down by 1.75% to $184.09. Tracking the broader market, Ethereum fell from an early morning high $190.1 to a low $182.53.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through to $188 levels to take a run at the first major resistance level at $196.36.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $190.1.
Barring a broad-based crypto rebound, Ethereum would likely come up short of $190 levels on the day.
Failure to move back through to $188 levels would see Ethereum see another day in the red. A fall back through the morning low $182.53 would bring the first major support level at $179.19 into play.
Barring another crypto meltdown, Ethereum should steer clear of sub-$170 levels. The second major support level at $171 would likely limit any downside.
Major Support Level: $179.19
Major Resistance Level: $196.36
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Monero’s XMR tumbled by 6.11% on Wednesday. Following on from a 4.71% slide on Tuesday, Monero’s XMR ended the day at $80.65.
A particularly bearish morning saw Monero’s XMR slide from an early intraday high $86.41 to an early afternoon intraday low $79.
The sell-off saw Monero’s XMR fell through the first major support level at $83.24 and second major support level at $80.59.
Finding support at sub-$80, Monero’s XMR managed to briefly visit $82 levels before falling back to $80 levels.
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 1.92% to $79.1. Another bearish start to the day saw Monero’s XMR slide from a morning high $80.97 to a low $78.6 before finding support.
Monero’s XMR left the major support and resistance levels untested early on.
Ethereum slid by 4.68% on Wednesday. Following on from a 2.85% fall on Tuesday, Ethereum […]
This is a preview of a research report from Business Insider Intelligence . To learn more about Business Insider Intelligence,… Read More
New York, NY 16 Sep 2019: – According to a new study published by Polaris Market Research the global blockchain… Read More
(Image: Stockfresh) Pro 16 September 2019 | 0Research firm Gartner, whose past evaluations of blockchain have been conservative to say… Read More
Bill Barhydt, CEO of Bitcoin investment platform Abra , claims that Facebook staffers told him the company wanted to use… Read More
Bitcoin and crypto investors were put on notice this week when French and German government officials backed European Central Bank… Read More