2021-07-05 06:29:32

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 5th, 2021

Ethereum

Ethereum rose by 4.30% on Sunday. Following a 3.29% gain on Saturday, Ethereum ended the week up by 17.05% to $2,323.15.

A bearish start to the day saw Ethereum fall to an early morning intraday low $2,190.56 before making a move.

Steering clear of the first major support level at $2,147, Ethereum rallied to a late intraday high $2,389.22.

Ethereum broke through the first major resistance level at $2,273 and the second major resistance level at $2,320.

A late pullback saw Ethereum briefly fall back through the second major resistance level before ending the day at $2,320 levels.

At the time of writing, Ethereum was down by 0.45% to $2,312.63. A bearish start to the day saw Ethereum fall from an early morning high $2,323.28 to a low $2,303.44.

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

For the day ahead

Ethereum would need to avoid the $2,301 pivot to bring the first major resistance level at $2,411 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,389.22.

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 the second major resistance level at $2,500.

A fall through the $2,301 pivot would bring the first major support level at $2,213 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,100 levels. The second major support level at $2,102 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,213

Pivot Level: $2,301

First Major Resistance Level: $2,411

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.37% on Sunday. Following a 2.40% gain from Saturday, Litecoin ended the week up by 9.25% to $144.94.

A mixed start to the day saw Litecoin fall to an early morning intraday low $136.89 before making a move.

Steering clear of the first major support level at $136, Litecoin rose to a late intraday high $148.00.

Litecoin broke through the first major resistance level at $143 and the second major resistance level at $146.

Falling short of $150 levels, however, Litecoin eased back to end the day at sub-$145 levels. The late pullback saw Litecoin fall back through the second major resistance level at $146.

At the time of writing, Litecoin was down by 0.37% to $144.40. A bearish start to the day saw Litecoin fall from an early morning high $145.00 to a low $143.78.

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 $143 pivot to bring the first major resistance level at $150 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $150 levels.

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 $160. The second major resistance level sits at $154.

A fall through the $143 pivot would bring the first major support level at $139 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$135 levels. The second major support level sits at $132.

Looking at the Technical Indicators

First Major Support Level: $139

Pivot Level: $143

First Major Resistance Level: $150

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 3.58% on Sunday. Following a 2.53% gain on Saturday, Ripple’s XRP ended the week up by 7.40% to $0.69587.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.66591 before making a move.

Steering clear of the first major support level at $0.6490, Ripple’s XRP rallied to a late intraday high $0.70946.

Ripple’s XRP broke through the first major resistance level at $0.6910 and the second major resistance level at $0.7091.

A bearish to end the day saw Ripple’s XRP fall back through the second major resistance level to end the day at sub-$0.70 levels.

At the time of writing, Ripple’s XRP was down by 0.76% to 0.69057. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.69548 to a low $0.68964.

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 a fall back through the $0.6904 pivot to bring the first major resistance level at $0.7149 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.70946.

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 $0.75 before any pullback. The second major resistance level sits at $0.7340.

A fall back through the $0.6904 pivot would bring the first major support level at $0.6714 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6469.

Looking at the Technical Indicators

First Major Support Level: $0.6714

Pivot Level: $0.6904

First Major resistance Level: $0.7149

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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