Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 30th, 2021

By July 29, 2021Ethereum
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Ethereum

Ethereum rose by 3.59% on Thursday. Following a 0.01% gain on Wednesday, Ethereum ended the day at $2,383.32.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,267.78 before making a move.

Steering clear of the first major support level at $2,248, Ethereum rallied to a late intraday high $2,399.99.

Ethereum broke through the first major resistance level at $2,351 to end the day at $2,380 levels.

At the time of writing, Ethereum was down by 0.45% to $2,372.50. A mixed start to the day saw Ethereum rise to an early morning high $2,389.54 before falling to a low $2,365.84.

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

For the day ahead

Ethereum would need to avoid the $2,350 pivot to bring the first major resistance level at $2,433 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $2,399.99.

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

In the event of another broad-based crypto rally, Ethereum could resistance at $2,500 before any pullback. The second major resistance level sits at $2,483.

A fall through the $2,350 pivot would bring the first major support level at $2,301 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,200 levels. The second major support level at $2,218 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,301

Pivot Level: $2,350

First Major Resistance Level: $2,433

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.74% on Thursday. Following a 4.24% rally on Wednesday, Litecoin ended the day at $141.52.

A mixed start to the day saw Litecoin fall to an early morning intraday low $136.63 before making a move.

Steering clear of the first major support level at $135, Litecoin rallied to a late intraday high $142.97.

Falling short of the first major resistance level at $144, however, Litecoin slipped back to end the day at sub-$142 levels.

At the time of writing, Litecoin was down by 0.66% to $140.59. A mixed start to the day saw Litecoin rise to an early morning high $142.00 before falling to a low $140.59.

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

For the day ahead

Litecoin would need to avoid the $140 pivot to bring the first major resistance level at $144 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $142.97.

Barring an extended crypto rally, the first major resistance level and resistance at $145 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $147.

A fall through the $140 pivot would bring the first major support level at $138 into play.

Barring an extended sell-off, however, Litecoin should continue to steer clear of sub-$130 levels. The second major support level at $134 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $138

Pivot Level: $140

First Major Resistance Level: $144

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 2.39% on Thursday. Following Wednesday’s 13.80% breakout, Ripple’s XRP ended the day at $0.74995.

After a mixed start to the day, Ripple’s XRP fell to a mid-day intraday low $0.69828 before making a move.

Steering clear of the first major support level at $0.6592, Ripple’s XRP rallied to a final hour intraday high $0.76596.

Falling short of the first major resistance level at $0.7806, Ripple’s XRP eased back to end the day at sub-$0.75 levels.

At the time of writing, Ripple’s XRP was down by 1.67% to $0.73739. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.75261 before falling to a low $0.73739.

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

For the day ahead

Ripple’s XRP will need to move back through the $0.7381 pivot to bring the first major resistance level at $0.7778 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.76596.

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

In the event of another breakout, Ripple’s XRP could test resistance at $0.80 before any pullback. The second major resistance level sits at $0.8057.

Failure to move back through the $0.7381 pivot would bring the first major support level at $0.7102 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.70 levels. The second major support level sits at $0.6704.

Looking at the Technical Indicators

First Major Support Level: $0.7102

Pivot Level: $0.7381

First Major resistance Level: $0.7778

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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