2021-07-01 06:32:31

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 1st, 2021

Ethereum

Ethereum rose by 5.13% on Wednesday. Following on from a 3.94% gain on Tuesday, Ethereum ended the day at $2,276.72.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,089.16 before making a move.

Steering clear of the first major support level at $2,078, Ethereum rallied to a late intraday high $2,288.00.

Ethereum broke through the first major resistance level at $2,251 to end the day at $2,270 levels.

At the time of writing, Ethereum was down by 1.70% to $2,237.91. A mixed start to the day saw Ethereum rise to an early morning high $2,277.44 before falling to a low $2,235.25.

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

For the day ahead

Ethereum would need to avoid the $2,218 pivot to bring the first major resistance level at $2,347 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $2,288.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,500. The second major resistance level sits at $2,417.

A fall through the $2,218 pivot would bring the first major support level at $2,148 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,019 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,148

Pivot Level: $2,218

First Major Resistance Level: $2,347

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.12% on Wednesday. Following a 4.70% gain on Tuesday, Litecoin ended the day at $144.36.

A mixed start to the day saw Litecoin rise to an early morning intraday high $146.94 before hitting reverse.

Falling short of the first major resistance level at $150, Litecoin fell to a late afternoon intraday low $136.09.

Litecoin fell through the first major support level at $138 before a late move back through to $144 levels.

At the time of writing, Litecoin was by 1.24% to $142.57. A bearish start to the day saw Litecoin fall from an early morning high $144.43 to a low $142.18.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move back through the $143 pivot to bring the first major resistance level at $149 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $146.94.

Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $160. The second major resistance level sits at $153.

Failure to move back through the $143 pivot would bring the first major support level at $138 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level at $132 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $138

Pivot Level: $143

First Major Resistance Level: $149

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 0.60% on Wednesday. Partially reversing a 9.51% rally from Tuesday, Ripple’s XRP ended the day at $0.70304.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.71322 before hitting reverse.

Falling short of the first major resistance level at $0.7443, Ripple’s XRP slid to a late afternoon intraday low $0.64855.

Ripple’s XRP fell through the first major support level at $0.6546 before a partial recovery to $0.70 levels.

At the time of writing, Ripple’s XRP was down by 1.48% to $0.69262. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.70433 to a low $0.69236.

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 avoid the $0.6883 pivot to bring the first major resistance level at $0.7280 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.71322.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.80. The second major resistance level sits at $0.7529.

A fall through the $0.6883 pivot would bring the first major support level at $0.6633 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6236.

Looking at the Technical Indicators

First Major Support Level: $0.6633

Pivot Level: $0.6883

First Major resistance Level: $0.7280

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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