Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 9th, 2021
Ethereum
Ethereum rose by 1.85% on Wednesday. Partially reversing a 12.52% slide from Tuesday, Ethereum ended the day at $3,500.34.
A mixed start to the day saw Ethereum fall to a late morning intraday low $3,216.00 before making a move.
Steering clear of the first major support level at $2,981, Ethereum rose to a late afternoon intraday high $3,562.98.
While falling short of the first major resistance level at $3,465, Ethereum broke through the 23.6% FIB of $3,369 to end the day at $3,500 levels.
At the time of writing, Ethereum was down by 0.69% to $3,476.33. A mixed start to the day saw Ethereum rise to an early morning high $3,516.42 before falling to a low $3,467.83
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,426 pivot to bring the first major resistance level at $3,637 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $3,562.98.
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 $3,800 before any pullback. The second major resistance level sits at $3,773.
A fall through the $3,426 pivot would bring the 23.6% FIB of $3,369 and the first major support level at $3,290 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level sits at $3,080.
Looking at the Technical Indicators
First Major Support Level: $3,290
Pivot Level: $3,426
First Major Resistance Level: $3,637
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 0.65% on Wednesday. Following an 18.73% tumble on Tuesday, Litecoin ended the day at $179.70.
A mixed start to the day saw Litecoin rise to an early morning intraday high $189.00 before hitting reverse.
While falling short of the first major resistance level at $213, Litecoin broke through the 23.6% FIB of $178.
The reversal saw Litecoin fall to a late morning intraday low $169.31 before finding support.
Steering clear of the first major support level at $152, Litecoin broke back through the 23.6% FIB to end the day at $179 levels.
At the time of writing, Litecoin was up by 0.40% to $180.42. A mixed start to the day saw Litecoin rise to an early morning high $182.98 before falling to a low $179.09.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $179 pivot to bring the first major resistance level at $189 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $185 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $189.00 would likely cap the upside.
In the event of broad-based crypto rally, Litecoin could the second major resistance level at $199.
A fall through the $179 pivot and the 23.6% FIB of $178 would bring the first major support level at $170 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $160.
Looking at the Technical Indicators
First Major Support Level: $170
Pivot Level: $179
First Major Resistance Level: $189
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 2.62% on Wednesday. Following a 19.26% slump on Tuesday, Ripple’s XRP ended the day at $1.09997.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.14731 before hitting reverse.
Falling short of the first major resistance level at $1.3739, Ripple’s XRP fell to a late morning intraday low $1.01291.
While steering clear of the first major support level at $0.8915, Ripple’s XRP fell through the 38.2% FIB of $1.0659.
Finding late morning support, however, Ripple’s XRP broke back through the 38.2% FIB to end the day at $1.09 levels.
At the time of writing, Ripple’s XRP was up by 0.93% to $1.11021. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.09806 before rising to a high $1.11838.
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 $1.0867 pivot to bring first major resistance level at $1.1606 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.14731.
Barring an extended crypto rally, the first major resistance level 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 $1.2211.
A fall through the $1.0867 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0262 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 $0.9523.
Looking at the Technical Indicators
First Major Support Level: $1.0262
Pivot Level: $1.0867
First Major resistance Level: $1.1606
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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