Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 24th, 2021
Ethereum
Ethereum rose by 2.48% on Thursday. Following a 11.31% rally on Wednesday, Ethereum ended the day at $3,154.62.
A mixed start to the day saw Ethereum fall to an early morning low $3,035.83 before making a move.
Steering clear of the first major support level at $2,848, Ethereum rose to a late afternoon intraday high $3,182.34.
Falling short of the first major resistance level at $3,200, however, Ethereum eased back to end the day at $3,150 levels.
At the time of writing, Ethereum was up by 0.11% to $3,158.16. A mixed start to the day saw Ethereum fall to an early morning low $3,146.08 before rising to a high $3,159.43.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,124 pivot to bring the first major resistance level at $3,213 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $3,182.34.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,271.
A fall through the $3,124 pivot would bring the first major support level at $3,066 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level sits at $2,978.
Looking at the Technical Indicators
First Major Support Level: $3,066
Pivot Level: $3,124
First Major Resistance Level: $3,213
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 1.53% on Thursday. Following an 8.69% gain on Wednesday, Litecoin ended the day at $163.92.
A mixed start to the day saw Litecoin fall to a late morning intraday low $157.26 before making a move.
Steering clear of the first major support level at $151, Litecoin rallied to a late afternoon intraday high $165.00.
Falling short of the first major resistance level at $167, however, Litecoin eased back to end the day at $163 levels.
At the time of writing, Litecoin was up by 1.27% to $166.00. A bullish start to the day saw Litecoin rise from an early morning low $163.82 to a high $166.21.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $162 pivot to bring the first major resistance level at $167 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $166 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of another breakout, Litecoin could test the second major resistance level at $170.
A fall through the $162 pivot would bring the first major support level at $159 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$150. The second major support level at $154 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $159
Pivot Level: $162
First Major Resistance Level: $167
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 0.24% on Thursday. Following a 14.84% surge on Wednesday, Ripple’s XRP ended the day at $1.00164.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.01611 before hitting reverse.
Falling short of the first major resistance level at $1.0509, Ripple’s XRP fell to a late morning intraday low $0.96828.
Steering clear of the first major support level at $0.9111, Ripple’s XRP found support to end the day at $1.00 levels.
At the time of writing, Ripple’s XRP was down by 0.31% to $0.99854. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.00194 to a low $0.99811.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to avoid the $0.9953 pivot to bring the first major resistance level at $1.0224 into play.
Support would be needed, however, for Ripple’s XRP to break back through to $1.02 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at the 38.2% FIB of $1.0659 before any pullback. The second major resistance level sits at $1.0432.
A fall through $0.9953 pivot would bring the first major support level at $0.9746 into play. Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.9475.
Looking at the Technical Indicators
First Major Support Level: $0.9746
Pivot Level: $0.9953
First Major resistance Level: $1.0224
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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