Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 14th, 2021
Ethereum
Ethereum fell by 3.46% on Monday. Partially reversing a 4.19% gain from Sunday, Ethereum ended the day at $3,286.20.
A mixed start to the day saw Ethereum rise to an early morning intraday high $3,430.00 before hitting reverse.
Falling short of the first major resistance level at $3,507, Ethereum slid to an early afternoon intraday low $3,111.14.
Ethereum fell through the first major support level at $3,266 and the second major support level at $3,128.
Ethereum also fell through the 23.6% FIB of $3,369. Finding late support, however Ethereum broke back through the major support levels to end the day at $3,280 levels.
At the time of writing, Ethereum was down by 0.38% to $3,273.71. A mixed start to the day saw Ethereum rise to an early morning high $3,288.87 before falling to a low $3,273.48.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through the $3,276 pivot to bring the first major resistance level at $3,440 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the 23.6% FIB of $3,369.
Barring an extended crypto rally, the first major resistance level and Monday’s high $3,430.00 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,700 before any pullback. The second major resistance level sits at $3,595.
Failure to move back through the $3,276 pivot would bring the first major support level at $3,122 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level sits at $2,957.
Looking at the Technical Indicators
First Major Support Level: $3,122
Pivot Level: $3,276
First Major Resistance Level: $3,440
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 1.99% on Monday. Following a 2.45% decline on Sunday, Litecoin ended the day at $179.36.
A bearish start to the day saw Litecoin fall to an early morning intraday low $170.82 before making a move.
Litecoin fell through the 23.6% FIB of $178 and the first major support level at $177.
Finding support at the second major support level at $171, however, Litecoin surged to an early afternoon intraday high $237.88.
Litecoin broke back through the 23.6% FIB and broke through the day’s major resistance levels.
More significantly, Litecoin also broke through the 38.2% FIB of $223 before hitting reverse.
The reversal saw Litecoin fall back through the 38.2% FIB and the major resistance levels to end the day at $179 levels.
At the time of writing, Litecoin was down by 0.55% to $178.38. A mixed start to the day saw Litecoin fall from an early morning high $179.57 to a low $178.00.
While leaving the major support and resistance levels untested, Litecoin tested support at the 23.6% FIB of $178.
For the day ahead
Litecoin would need to move through the $196 pivot to bring the first major resistance level at $221 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.
Barring an extended crypto rally, resistance at $200 would likely leave Litecoin short of the first major resistance level and the 38.2% FIB of $223.
In the event of another breakout, Litecoin could test resistance at Monday’s high $237.88. The second major resistance level sits at $263.
Failure to move through the $196 pivot would bring the 23.6% FIB of $178 and the first major support level at $154 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$170. The second major support level sits at $129.
Looking at the Technical Indicators
First Major Support Level: $154
Pivot Level: $196
First Major Resistance Level: $221
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP slid by 4.95% on Monday. Reversing a 3.93% gain from Sunday, Ripple’s XRP ended the day at $1.06453.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.12568 before hitting reverse.
Falling short of the first major resistance level at $1.1451, Ripple’s XRP tumbled to an early afternoon intraday low $1.02285.
Ripple’s XRP fell through the first major support level at $1.0765 and the second major support level at $1.0331.
The extended sell-off also saw Ripple’s XRP fall through the 38.2% FIB of $1.0659 before finding late support.
Late in the day, Ripple’s XRP broke back through the second major support level to end the day at $1.064 levels.
At the time of writing, Ripple’s XRP was down by 0.20% to $1.06240. A mixed start to the day saw Ripple’s XRP fall from an early morning high $1.06419 to a low $1.05695.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to move through the 38.2% FIB of $1.0659 and the $1.0710 pivot to bring first major resistance level at $1.1192 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.10 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $1.12568 would likely cap the upside.
In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1739.
Failure to move through the 38.2% FIB of $1.0659 and the $1.0710 pivot would bring the first major support level at $1.0164 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level sits at $0.9682.
Looking at the Technical Indicators
First Major Support Level: $1.0164
Pivot Level: $1.0710
First Major resistance Level: $1.1192
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
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Thanks, Bob
This article was originally posted on FX Empire