Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 21st, 2021

By July 20, 2021Ethereum
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Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum fell by 1.76% on Tuesday. Following a 3.86% loss on Monday, Ethereum ended the day at $1,786.46.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,840.79 before hitting reverse.

Falling short of the first major resistance level at $1,890, Ethereum slid to an early morning intraday low $1,720.16.

Ethereum fell through the first major support level at $1,776 and the second major support level at $1,734.

Finding support at the 62% FIB of $1,725, Ethereum briefly revisited $1,820 levels before falling back into the red.

At the time of writing, Ethereum was up by 0.30% to $1,791.83. A mixed start to the day saw Ethereum rise to an early morning high $1,794.80 before falling to a low $1,780.27.

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

For the day ahead

Ethereum would need to avoid a fall back through the $1,783 pivot to bring the first major resistance level at $1,845 into play.

Support from the broader market would be needed, however, for Ethereum to move back through to $1,800 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1,840.79 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could resistance at $1,900 before any pullback. The second major resistance level sits at $1,903.

A fall back through the $1,783 pivot would bring the 62% FIB of $1,725 and the first major support level at $1,724 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,662.

Looking at the Technical Indicators

First Major Support Level: $1,724

Pivot Level: $1,783

First Major Resistance Level: $1,845

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 5.21% on Tuesday. Following a 5.06% decline on Monday, Litecoin ended the day at 107.30.

A mixed start to the day saw Litecoin rise to an early morning intraday high $115.06 before hitting reverse.

Falling short of the first major resistance level at $119, Litecoin slid to a late morning intraday low $104.02.

Litecoin fell through the first major support level at $110 and the second major support level at $106.

Steering clear of sub-$100 levels, Litecoin revisited $109 levels before falling back into the deep red.

The first major support level at $110 pegged Litecoin back late in the day.

At the time of writing, Litecoin was up by 0.01% to $107.31. A mixed start to the day saw Litecoin rise to an early morning high $107.70 before falling to a low $106.72.

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

For the day ahead

Litecoin would need to move through the $109 pivot to bring the first major resistance level at $114 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $110 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $115.06 would likely cap any upside.

In the event of an extended breakout, Litecoin could test the second major resistance level at $120.

Failure to move through the $109 pivot would bring the first major support level at $103 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$95 levels. The second major support level at $98 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $103

Pivot Level: $109

First Major Resistance Level: $114

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 5.22% on Tuesday. Following a 4.86% loss on Monday, Ripple’s XRP ended the day at $0.52841.

A choppy start to the day saw Ripple’s XRP rise to an early morning intraday high $0.56994 before hitting reverse.

Falling short of the first major resistance level at $0.5794, Ripple’s XRP slid to a late morning intraday low $0.51651.

Ripple’s XRP fell through the first major support level at $0.5444 and the second major support level at $0.5316.

Steering clear of sub-$0.50 levels, Ripple’s XRP briefly moved back through the second major support level before easing back.

At the time of writing, Ripple’s XRP was up by 0.12% to $0.52902. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.52489 before rising to a high $0.52957.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through the $0.5383 pivot to bring the first major resistance level at $0.5601 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.55 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.56994 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.60 before any pullback. The second major resistance level sits at $0.5917.

Failure to move through the $0.5383 pivot would bring the first major support level at $0.5066 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.50 levels. The second major support level sits at $0.4849.

Looking at the Technical Indicators

First Major Support Level: $0.5066

Pivot Level: $0.5383

First Major resistance Level: $0.5601

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

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