2021-07-03 06:28:40

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 3rd, 2021

Ethereum

Ethereum rose by 2.79% Friday. Partially reversing a 7.45% slide from Thursday, Ethereum ended the day at $2,156.00.

A bearish start to the day saw Ethereum slide to a late morning intraday low $2,017.07 before making a move.

The morning reversal saw Ethereum fall through the first major support level at $2,027.

Through the 2nd half of the day, however, Ethereum rallied to a late intraday high $2,159.43.

Falling short of the first major resistance level at $2,232, Ethereum eased back to end the day at $2,156 levels.

At the time of writing, Ethereum was down by 0.28% to $2,150.04. A mixed start to the day saw Ethereum rise to an early morning high $2,166.60 before falling to a low $2,150.04.

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

For the day ahead

Ethereum would need to avoid the $2,111 pivot to bring the first major resistance level at $2,205 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,200 levels.

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

In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,300. The second major resistance level sits at $2,253.

A fall through the $2,111 pivot would bring the first major support level at $2,062 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level sits at $1,967.

Looking at the Technical Indicators

First Major Support Level: $2,062

Pivot Level: $2,111

First Major Resistance Level: $2,205

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slipped by 0.09% on Friday. Following a 5.03% loss on Thursday, Litecoin ended the day at $136.91.

A mixed start to the day saw Litecoin rise to an early morning intraday high $139.00 before hitting reverse.

Falling short of the first major resistance level at $143, Litecoin slid to a late morning intraday low $130.60.

Litecoin fell through the first major support level at $133 before a partial recovery to $136 levels.

At the time of writing, Litecoin was down by 0.35% to $136.43. A mixed start to the day saw Litecoin rise to an early morning high $137.34 before falling to a low $136.43.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid the $136 pivot to bring the first major resistance level at $140 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $140 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $139.00 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $144.

A fall through the $136 pivot would bring the first major support level at $132 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level sits at $127.

Looking at the Technical Indicators

First Major Support Level: $132

Pivot Level: $136

First Major Resistance Level: $140

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 0.34% on Friday. Following a 6.24% slide on Thursday, Ripple’s XRP ended the day at $0.65717.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.66686 before hitting reverse.

Falling short of the first major resistance level at $0.6948, Ripple’s XRP slid to a midday intraday low $0.63337.

Ripple’s XRP fell through the first major support level at $0.6355 before a partial recovery to $0.65 levels.

At the time of writing, Ripple’s XRP was down by 0.32% to $0.65509. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.65887 before falling to a low $0.65509.

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

https://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to avoid the $0.6525 pivot to bring the first major resistance level at $0.6716 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.66686.

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

In the event of another breakout, Ripple’s XRP could test resistance at $0.70. The second major resistance level sits at $0.6860.

A fall through the $0.6525 pivot would bring the first major support level at $0.6381 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6190.

Looking at the Technical Indicators

First Major Support Level: $0.6381

Pivot Level: $0.6525

First Major resistance Level: $0.6716

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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