Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 17th, 2021
In This Article:
Ethereum
Ethereum fell by 1.30% on Thursday. Partially reversing a 5.22% rally from Wednesday, Ethereum ended the day at $3,568.66.
A mixed start to the day saw Ethereum rally to an early morning intraday high $3,675.92 before hitting reverse.
Falling short of the first major resistance level at $3,705, Ethereum fell to a late intraday low $3,482.97.
Steering clear of the first major support level at $3,443, Ethereum moved back through to $3,500 levels to reduce the deficit.
At the time of writing, Ethereum was down by 0.22% to $3,560.90. A mixed start to the day saw Ethereum rise to an early morning high $3,573.03 before falling to a low $3,556.61.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $3,576 pivot to bring the first major resistance level at $3,669 into play.
Support from the broader market would be needed, however, for Ethereum to break out from $3,650 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $3,675.92 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,769.
Failure to move through the $3,576 pivot would bring the first major support level at $3,476 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level at $3,383 and the 23.6% FIB of $3,369 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $3,476
Pivot Level: $3,576
First Major Resistance Level: $3,669
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 2.08% on Thursday. Partially reversing a 3.34% gain from Wednesday, Litecoin ended the day at $185.33.
A mixed start to the day saw Litecoin rise to a mid-morning intraday high $195.49 before hitting reverse.
Litecoin broke through the first major resistance level at $194 before sliding to a late intraday low $181.53.
The reversal saw Litecoin fall through the first major support level at $182 before a partial recovery to $185 levels.
At the time of writing, Litecoin was up by 0.13% to $185.58. A range-bound start to the day saw Litecoin fall to an early morning low $185.26 before rising to a high $185.94.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $188 pivot to bring the first major resistance level at $193 into play.