2021-07-07 06:37:36

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 7th, 2021

Ethereum

Ethereum rallied by 5.67% on Tuesday. Reversing a 5.42% slide from Monday, Ethereum ended the day at $2,321.84.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,195.02 before making a move.

Steering clear of the first major support level at $2,130, Ethereum rallied to a late morning intraday high $2,350.00.

Ethereum broke through the first major resistance level at $2,295 before a pullback to $2,250 levels.

Finding support, however, Ethereum broke back through the first major resistance level to end the day at $2,300 levels.

At the time of writing, Ethereum was up by 0.64% to $2,336.74. A mixed start to the day saw Ethereum fall to an early morning low $2,315.00 before rising to a high $2,346.29

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

For the day ahead

Ethereum would need to avoid the $2,289 pivot to bring the first major resistance level at $2,383 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $2,350.00.

Barring an extended crypto rally, the first major resistance level and resistance at $2,400 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 $2,444.

A fall through the $2,289 pivot would bring the first major support level at $2,228 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,100 levels. The second major support level at $2,134 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,228

Pivot Level: $2,289

First Major Resistance Level: $2,383

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.78% on Tuesday. Partially reversing a 4.95% slide from Monday, Litecoin ended the day at $138.89.

A mixed start to the day saw Litecoin rise an early intraday high $142.73 before hitting reverse.

Falling short of the first major resistance level at $144, Litecoin slid to a late morning intraday low $135.70.

Steering clear of the first major support level at $133, Litecoin revisited $139 levels before easing back.

At the time of writing, Litecoin was up by 0.50% to $139.58. A mixed start to the day saw Litecoin fall to an early morning low $138.50 before rising to a high $139.79.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid a fall back through the $139 pivot to bring the first major resistance level at $143 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 Tuesday’s high $142.73 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 $146.

A fall back through the $139 pivot would bring the first major support level at $136 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level at $132 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $136

Pivot Level: $139

First Major Resistance Level: $143

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 1.96% on Tuesday. Partially reversing a 6.23% loss from Monday, Ripple’s XRP ended the day at $0.66534.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.65201 before making a move.

Steering clear of the first major support level at $0.6326, Ripple’s XRP rose to a late morning intraday high $0.67966.

Falling short of the first major resistance level at $0.6838, Ripple’s XRP fell back to $0.653 levels and into the red.

A late move back through to S0.66 levels delivered the upside on the day, however.

At the time of writing, Ripple’s XRP was up by 0.06% to $0.66576. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.66258 before rising to a high $0.66711.

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 $0.6657 pivot to bring the first major resistance level at $0.6793 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.6750 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.67966 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 $0.6933.

A fall back through the $0.6657 pivot would bring the first major support level at $0.6517 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6380.

Looking at the Technical Indicators

First Major Support Level: $0.6517

Pivot Level: $0.6657

First Major resistance Level: $0.6793

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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