Ethereum, XRP, and Litecoin could be bound for a steeper decline

Closing below the support level could validate the bearish signal presented by the TD sequential indicator triggering a steep correction.

A spike in the buying pressure behind this cryptocurrency that allows it to break above resistance could take it to the 150-three-day moving average, at $195. If Ethereum is indeed bound for a bearish impulse, it could plunge to the 61.8 percent Fibonacci retracement level that sits at $164.65.

A further increase in sell orders could take ETH down to the next level of support around the 50 percent Fibonacci retracement level at $155.XRP presents ambiguous outlooks.

An increase in supply could push XRP below the 61.8 percent Fibonacci retracement level at $0.22.

Such a bearish momentum could be followed by a steeper decline to the 50 or 38.2 percent Fibonacci retracement levels.

These levels of support sit at $0.21 and $0.20, respectively.

Closing above this significant level of resistance could take XRP up to $0.25 or $0.27.

The recent 62 percent rally that Litecoin went through allowed the 7-three-day moving average to cross above the 30-day moving average on the 3-day chart.

Closing below the 78.6 percent Fibonacci retracement level could add credibility to the bearish scenario.

If this happens, then Litecoin could plunge to the next levels of support around the 61.8 and 50 percent Fibonacci retracement levels.