Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 19th, 2021

By July 21, 2021Ethereum
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Ethereum

Ethereum fell by 0.44% on Sunday. Partially reversing a 1.20% gain from Saturday, Ethereum ended the week down by 11.67% to $1,891.46.

A mixed start to the day saw Ethereum rally to an early morning intraday high $1,994.40 before hitting reverse.

Ethereum broke through the first major resistance level at $1,929 and the second major resistance level at $1,959.

Falling short of $2,000 levels, however, Ethereum slid to a late afternoon intraday low $1,878.67.

Steering clear of the first major support level at $1,860, Ethereum revisited $1,900 levels before falling back into the red.

At the time of writing, Ethereum was up by 0.77% to $1,906.00. A mixed start to the day saw Ethereum fall to an early morning low $1,886.17 before rising to a high $1,906.00.

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

For the day ahead

Ethereum would need to move through the $1,922 pivot to bring the first major resistance level at $1,964 into play.

Support from the broader market would be needed, however, for Ethereum to move back through to $1,950 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $1,994.40 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could resistance at $2,100 before any pullback. The second major resistance level sits at $2,037.

Failure to move through the $1,922 pivot would bring the first major support level at $1,849 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level at $1,806 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,849

Pivot Level: $1,922

First Major Resistance Level: $1,964

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 0.76% on Sunday. Following a 0.57% loss on Saturday, Litecoin ended the week down by 11.27% to $119.13.

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