Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 10th, 2021

By June 10, 2021Ethereum
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Ethereum

Ethereum rose by 4.07% on Wednesday. Reversing a 3.22% fall from Tuesday, Ethereum ended the day at $2,611.27.

A bearish start to the day saw Ethereum fall to an early morning intraday low $2,406.33 before making a move.

Steering clear of the first major support level at $2,338, Ethereum rallied to a late afternoon intraday high $2,628.16.

Coming within range of the first major resistance level at $2,651, Ethereum eased back to end the day at $2,611 levels.

At the time of writing, Ethereum was up by 0.03% to $2,611.98. A mixed start to the day saw Ethereum fall to an early morning low $2,598.67 before striking a high $2,625.00.

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

For the day ahead

Ethereum would need to avoid the $2,549 pivot to bring the first major resistance level at $2,691 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $2,628.16.

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

In the event of a broad-based crypto rally, Ethereum could test resistance at the 38.2% FIB of $2,740 and the second major resistance level at $2,770.

A fall through the $2,549 pivot would bring the first major support level at $2,469 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $2,327.

Looking at the Technical Indicators

First Major Support Level: $2,469

Pivot Level: $2,549

First Major Resistance Level: $2,691

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rallied by 7.37% on Wednesday. Reversing a 0.75% loss from Tuesday, Litecoin ended the day at $172.57.

A mixed start to the day saw Litecoin fall to an early morning intraday low $152.46 before making a move.

Steering clear of the first major support level at $149, Litecoin rallied to a late afternoon intraday high $173.33.

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