2021-07-17 06:27:17

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 17th, 2021

Ethereum

Ethereum fell by 2.18% on Friday. Following a 3.81% slide on Thursday, Ethereum ended the day at $1,877.22.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,965.35 before hitting reverse.

Falling short of the first major resistance level at $2,012, Ethereum slid to a late morning intraday low $1,850.15.

Ethereum fell through the first major support level at $1,852 before briefly revisiting $1,940 levels.

A bearish end to the day, however, saw Ethereum slide back to sub-$1,900 levels and into the deep red.

At the time of writing, Ethereum was up by 0.55% to $1,887.47. A mixed start to the day saw Ethereum fall to an early morning low $1,868.54 before rising to a high $1,893.99.

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

For the day ahead

Ethereum would need to move through the $1,898 pivot to bring the first major resistance level at $1,945 into play.

Support from the broader market would be needed, however, for Ethereum to move back through to $1,900 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $1,965.35 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $2,013.

Failure to move through the $1,898 pivot would bring the first major support level at $1,830 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,782 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,830

Pivot Level: $1,898

First Major Resistance Level: $1,945

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 4.16% on Friday. Following a 3.99% loss on Thursday, Litecoin ended the day at $120.68.

In a mixed start to the day saw Litecoin rise to an early morning intraday high $127.82 before hitting reverse.

Falling short of the first major resistance level at $132, Litecoin slid to a late morning intraday low $120.44.

Litecoin fell through the first major support level at $121 before briefly revisiting $125 levels. A bearish end to the day, however, saw Litecoin fall back through the first major support level to end the day at sub-$121 levels.

At the time of writing, Litecoin was up by 0.33S% to $121.08. A mixed start to the day saw Litecoin fall to an early morning low $120.28 before rising to a high $121.12.

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 $123 pivot to bring the first major resistance level at $126 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $125 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $127.82 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $135. The second major resistance level sits at $130.

Failure to move through the $123 pivot would bring the first major support level at $118 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$110 levels. The second major support level at $116 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $118

Pivot Level: $123

First Major Resistance Level: $126

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 1.43% on Friday. Following a 3.72% slide on Thursday, Ripple’s XRP ended the day at $0.59062.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.61832 before hitting reverse.

Falling short of the first major resistance level at $0.6201, Ripple’s XRP slid to a late morning intraday low $0.58757.

Steering clear of the first major support level at $0.5817, Ripple’s XRP before a briefly revisited $0.604 levels. A bearish end to the day, however, saw Ripple’s XRP fall back to sub-$0.59 levels before finding support.

At the time of writing, Ripple’s XRP was up by 0.45% to $0.59328. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.58951 before rising to a high $0.59433.

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 $0.5988 pivot to bring the first major resistance level at $0.6101 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.61 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $0.61832 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.63 before any pullback. The second major resistance level sits at $0.6296.

Failure to move through the $0.5988 pivot would bring the first major support level at $0.5794 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.5681.

Looking at the Technical Indicators

First Major Support Level: $0.5794

Pivot Level: $0.5988

First Major resistance Level: $0.6101

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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