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

By July 21, 2021Ethereum
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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.

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