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

·5-min read

Ethereum

Ethereum rallied by 5.83% on Sunday. Following a 0.70% gain from Saturday, Ethereum ended the week down by 7.40% to $2,510.23.

A bearish start to the day saw Ethereum fall to an early morning intraday low $2,309.67 before making a move.

Steering clear of the first major support level at $2,270, Ethereum rallied to a late intraday high $2,550.00.

Ethereum broke through the first major resistance level at $2,463. Coming up against the second major resistance level at $2,554, however, Ethereum eased back to sub-$2,520 levels.

At the time of writing, Ethereum was down by 0.47% to $2,498.40. A mixed start to the day saw Ethereum rise to an early morning high $2,524.99 before falling to a low $2,496.05.

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

For the day ahead

Ethereum would need to avoid the $2,457 pivot to bring the first major resistance level at $2,604 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,550.00.

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

In the event of another broad-based crypto rally, Ethereum could test resistance at the 38.2% FIB of $2,740 before any pullback. The second major resistance level sits at $2,697.

A fall through the $2,457 pivot would bring the first major support level at $2,363 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,300 levels. The second major support level sits at $2,216.

Looking at the Technical Indicators

First Major Support Level: $2,363

Pivot Level: $2,457

First Major Resistance Level: $2,604

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 5.66% on Sunday. Reversing a 0.63% loss from Saturday, Litecoin ended the week down by 3.04% to $171.02.

A bearish start to the day saw Litecoin fall to an early morning intraday low $156.54 before making a move.

Finding support at the first major support level at $156, Litecoin rallied to a late intraday high $171.73.

Litecoin broke through the first major resistance level at $166 and the second major resistance level at $170.

A late pullback saw Litecoin briefly fall back through the second major resistance level before ending the day at $171 levels.

At the time of writing, Litecoin was down by 0.29% to $170.53. A mixed start to the day saw Litecoin rise to an early morning high $172.66 before falling to a low $170.22.

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

For the day ahead

Litecoin would need to avoid the $166 pivot to bring the 62% FIB of $174 and the first major resistance level at $176 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 62% FIB.

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

In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $182.

A fall through the $166 pivot would bring the first major support level at $161 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $151.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $161

Pivot Level: $166

First Major Resistance Level: $176

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rallied by 6.20% on Sunday. Reversing a 1.81% decline from Saturday, Ripple’s XRP ended the week down by 6.67% to $0.88289.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.81861 before making a move.

Steering clear of the first major support level at $0.8100, Ripple’s XRP rallied to a late intraday high $0.88876.

Ripple’s XRP broke through the first major resistance level at $0.8498 and the second major resistance level at $0.8681. More significantly, Ripple’s XRP also broke back through the 62% FIB of $0.8573.

Late in the day, Ripple’s XRP briefly fell back to $0.87 levels before ending the day at $0.88 levels.

At the time of writing, Ripple’s XRP was down by 0.01% to $0.88278. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.89280 before falling to a low $0.88210.

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

For the day ahead

Ripple’s XRP will need to avoid the $0.8634 pivot to bring the first major resistance level at $0.9082 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.88876.

Barring an extended crypto rally, the first major resistance level and resistance at $0.91 would likely cap any upside.

In the event of another extended rally, Ripple’s XRP could test resistance at $1.00. The second major resistance level sits at $0.9336.

A fall through the $0.8634 pivot would bring the 62% FIB of $0.8573 and the first major support level at $0.8381 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7933.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.8381

Pivot Level: $0.8634

First Major resistance Level: $0.9082

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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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