2021-07-06 06:20:41

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 6th, 2021

Ethereum

Ethereum fell by 5.42% on Monday. Partially reversing a 4.30% gain from Sunday, Ethereum ended the day at $2,197.34.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,324.44 before hitting reverse.

Falling short of the first major resistance level at $2,412, Ethereum slid to a late intraday low $2,160.00.

Ethereum fell through the first major support level at $2,213 before a briefly revisiting $2,200 levels.

At the time of writing, Ethereum was up by 1.30% to $2,226.00. A mixed start to the day saw Ethereum fall to an early morning low $2,195.02 before rising to a high $2,227.71

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

For the day ahead

Ethereum would need to move back through the $2,227 pivot to bring the first major resistance level at $2,295 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,290 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2,324.44 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $2,500. The second major resistance level sits at $2,392.

Failure to move back through the $2,227 pivot would bring the first major support level at $2,130 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,063 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,130

Pivot Level: $2,227

First Major Resistance Level: $2,295

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 4.95% on Monday. Reversing a 3.37% gain from Sunday, Litecoin ended the day at $137.82.

Bearish from the start to the day, Litecoin fell from an early intraday high $145.00 to a late morning intraday low $134.17.

Litecoin fell through the first major support level at $139 before a revisiting $140 levels.

A bearish end to the day, however, saw Litecoin fall back through the first major support level to end the day at $137 levels.

At the time of writing, Litecoin was up by 0.62% to $138.68. A mixed start to the day saw Litecoin fall to an early morning low $137.50 before rising to a high $138.69.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move through the $139 pivot to bring the first major resistance level at $144 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 Monday’s high $145.00 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $155. The second major resistance level sits at $150.

Failure to move through the $139 pivot would bring the first major support level at $133 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level sits at $128.

Looking at the Technical Indicators

First Major Support Level: $133

Pivot Level: $139

First Major Resistance Level: $144

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 6.23% on Monday. Reversing a 3.58% gain from Sunday, Ripple’s XRP ended the day at $0.65214.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.69592 before hitting reverse.

Falling short of the first major resistance level at $0.7149, Ripple’s XRP slid to a late morning intraday low $0.64476.

Ripple’s XRP fell through the first major support level at $0.6714 and the second major support level at $0.6469.

Finding late support, however, Ripple’s XRP broke back through the second major support level to end the day at $0.65 levels.

At the time of writing, Ripple’s XRP was up by 0.41% to $0.65483. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.65201 before rising to a high $0.65645.

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 move through the $0.6643 pivot to bring the first major resistance level at $0.6838 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.68 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.69592 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test the second major resistance level at $0.7154.

Failure to move through the $0.6643 pivot would bring the first major support level at $0.6326 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6131.

Looking at the Technical Indicators

First Major Support Level: $0.6326

Pivot Level: $0.6643

First Major resistance Level: $0.6838

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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