2021-07-14 06:27:23

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 14th, 2021

Ethereum

Ethereum fell by 4.43% on Tuesday. Following a 5.17% slide on Monday, Ethereum ended the day at $1,940.76.

A mixed start to the day saw Ethereum rise to a late morning intraday high $2,047.72 before hitting reverse.

Falling short of the first major resistance level at $2,133, Ethereum slid to a late intraday low $1,917.40.

Ethereum fell through the first major support level at $1,966 to end the day at sub-$1,950 levels.

At the time of writing, Ethereum was up by 0.02% to $1,941.17. A mixed start to the day saw Ethereum fall to an early morning low $1,934.44 before rising to a high $1,944.14.

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

For the day ahead

Ethereum would need to move through the $1,969 pivot to bring the first major resistance level at $2,020 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,000 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2,047.72 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $2,099.

Failure to move through the $1,969 pivot would bring the first major support level at $1,900 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level at $1,838 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,900

Pivot Level: $1,969

First Major Resistance Level: $2,020

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 1.45% on Tuesday. Following a 0.69% loss on Monday, Litecoin ended the day at $131.44.

In a mixed start to the day saw Litecoin rise to an early morning intraday high $134.62 before hitting reverse.

Falling short of the first major resistance level at $138, Litecoin slid to a midday intraday low $129.56.

Litecoin briefly fell through the first major support level at $130 before revisiting $134 levels.

A bearish end to the day, however, saw Litecoin fall back to end the day at $131 levels.

At the time of writing, Litecoin was up by 0.21% to $131.71. A mixed start to the day saw Litecoin fall to an early morning low $130.89 before rising to a high $131.74.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move through the $132 pivot to bring the first major resistance level at $134 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $134 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $134.62 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $140. The second major resistance level sits at $137.

Failure to move through the $132 pivot would bring the first major support level at $129 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $127.

Looking at the Technical Indicators

First Major Support Level: $129

Pivot Level: $132

First Major Resistance Level: $134

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 1.76% on Tuesday. Following a 0.80% decline on Monday, Ripple’s XRP ended the day at $0.61799.

A mixed start to the day saw Ripple’s XRP rally to a mid-morning intraday high $0.64317 before hitting reverse.

Falling short of the first major resistance level at $0.6516, Ripple’s XRP slid to a late intraday low $0.60814.

Ripple’s XRP briefly fell through the first major support level at $0.6124 before a revisiting $0.619 levels. A bearish end to the day, however, left Ripple’s XRP at $0.617 levels.

At the time of writing, Ripple’s XRP was up by 0.23% to $0.61941. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.61715 before rising to a high $0.61941.

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

https://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to move through the $0.6231 pivot to bring the first major resistance level at $0.6381 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.63 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.64317 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test the second major resistance level at $0.6581.

Failure to move through the $0.6231 pivot would bring the first major support level at $0.6030 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.5881.

Looking at the Technical Indicators

First Major Support Level: $0.6030

Pivot Level: $0.6231

First Major resistance Level: $0.6381

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

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

Thanks, Bob

This article was originally posted on FX Empire

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