2021-06-24 08:00:00

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 25th, 2021

Ethereum

Ethereum rose by 1.04% on Thursday. Following on from a 4.63% gain on Wednesday, Ethereum ended the day at $1,988.81.

A mixed start to the day saw Ethereum fall to an early morning intraday low $1,884.77 before making a move.

Steering clear of the first major support level at $1,847, Ethereum rallied to a late intraday high $2,035.39.

Falling short of the first major resistance level at $2,068, Ethereum eased back to end the day at sub-$2,000 levels.

At the time of writing, Ethereum was up by 0.26% to $1,994.06. A mixed start to the day saw Ethereum fall to an early morning low $1,987.45 before rising to a high $1,998.64.

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

For the day ahead

Ethereum would need to avoid the $1,970 pivot to bring the first major resistance level at $2,055 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $2,035.90.

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 $2,200. The second major resistance level sits at $2,121.

A fall through the $1,970 pivot would bring the first major support level at $1,904 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 62% FIB of $1,725. The second major support level at $1,819 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,904

Pivot Level: $1,970

First Major Resistance Level: $2,055

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 4.11% on Thursday. Following a 7.86% rally on Wednesday, Litecoin ended the day at $134.53.

Tracking the broader market, Litecoin fell to an early morning intraday low $123.77 before making a move.

Steering clear of the first major support level at $119, Litecoin rallied to a late intraday high $137.40.

Coming up against the first major resistance level at $137 Litecoin eased back to end the day at $134 levels.

At the time of writing, Litecoin was up by 1.00% to $135.87. A bullish start to the day saw Litecoin rise from an early morning low $134.54 to a high $135.96.

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 through the $132 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 out from Thursday’s high $137.40.

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 $150. The second major resistance level sits at $146.

A fall through the $132 pivot would bring the first major support level at $126 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level sits at $118.

Looking at the Technical Indicators

First Major Support Level: $126

Pivot Level: $132

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 rose by 4.65% on Thursday. Following on from a 16.72% jump on Wednesday, Ripple’s XRP ended the day at $0.67012.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.61644 before making a move.

Steering clear of the first major support level at $0.5467, Ripple’s XRP rallied to a late intraday high $0.69195.

Coming within range of the first major resistance level at $0.6970, Ripple’s XRP eased back to end the day at sub-$0.68 levels.

At the time of writing, Ripple’s XRP was up by 0.92% to $0.67626. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.67217 before rising to a high $0.67626.

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 $0.6595 pivot to bring the first major resistance level at $0.7026 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.70 levels.

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

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.80. The second major resistance level sits at $0.7350.

A fall through the $0.6595 pivot would bring the first major support level at $0.6271 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.60 levels. The second major support level sits at $0.5840.

Looking at the Technical Indicators

First Major Support Level: $0.6271

Pivot Level: $0.6595

First Major resistance Level: $0.7026

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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