Are Ethereum, XRP and Litecoin on the road to recovery?

Now, it seems like the 78.6 percent Fibonacci retracement level was able to contain the price of this cryptocurrency from a further decline.

As the buying pressure behind Ether increases, it could try to test the resistance given by the 75 percent Fibonacci retracement level, at $153. Closing above this resistance level would increase the odds for a further bullish impulse to around $171 and $180. The "In/Out Money" model from IntoTheBlock considers the distribution of Ethereum throughout individual wallets based on the current price.

Based on this metric, the recent nosedive was held by nearly 3 million addresses containing over 32 million ETH with balances up to $137. This area could continue serving as a significant support level due to the number of investors with positions around it.

As a result, if Ethereum closes below $137, it could continue to plunge to hit the next level of support at $125 or $103.XRP. The price of XRP was contained within the $0.24 support level and the $0.30 resistance level for nearly 100 days.

As XRP continued testing the $0.24 support level, it took away its strength, getting it to break finally.

The result was a 15.60 percent decline that took this cryptocurrency to the next level of support at $0.20.

Based on this technical index, XRP could find resistance around the setup trendline that sits at $0.27.

If this happens and XRP moves below the recent low of $0.20, it would likely test the next support levels at $0.17 or $0.15.Litecoin.

On the upside, if Litecoin closes above $48.50, it could try to test the next level of resistance at $53. And, if the volume behind it is significant enough, it could try to push further to the next resistance level at $58. Conversely, a sudden increase in sell orders that takes LTC to close below the $44 support level could be catastrophic.

Such a bearish impulse would likely push this crypto down to $41 or the next support level at $35. Based on IntoTheBlock's In/Out Money model, the $55 to $60 area poses a certain level of resistance for Litecoin's uptrend.