Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 29th, 2021
Ethereum
Ethereum rose by 4.99% on Monday. Following an 8.51% rally on Sunday, Ethereum ended the day at $2,083.79.
A mixed start to the day saw Ethereum fall to an early morning intraday low $1,957.24 before making a move.
Steering clear of the first major support level at $1,866, Ethereum rallied to a late intraday high $2,143.67.
Ethereum broke through the first major resistance level at $2,046 and the second major resistance level at $2,108 before easing back.
A late pullback saw Ethereum fall back through the second major resistance level to end the day at sub-$2,100 levels.
At the time of writing, Ethereum was up by 0.48% to $2,093.75. A mixed start to the day saw Ethereum fall to an early morning low $2,074.53 before rising to a high $2,103.00.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $2,062 pivot to bring the first major resistance level at $2,166 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $2,143.67.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,300. The second major resistance level sits at $2,248.
A fall through the $2,062 pivot would bring the first major support level at $1,980 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,900 levels. The second major support level sits at $1,875.
Looking at the Technical Indicators
First Major Support Level: $1,980
Pivot Level: $2,062
First Major Resistance Level: $2,166
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 3.81% on Monday. Following a 4.66% gain on Sunday, Litecoin ended the day at $137.69.
After a mixed morning, Litecoin fell to an early afternoon intraday low $129.92 before making a move.
Steering clear of the first major support level at $127, Litecoin rallied to a late intraday high $139.60.
Litecoin broke through the first major resistance level at $135 and the second major resistance level at $138.
Falling short of $140 levels, however, Litecoin fell back through the second major resistance level to end the day at $137 levels.
At the time of writing, Litecoin was up by 1.22% to $139.37. A bullish start to the day saw Litecoin rise from an early morning low $137.56 to a high $139.69.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $136 pivot to bring the first major resistance level at $142 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $140 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $145.
A fall through the $136 pivot would bring the first major support level at $132 into play.
Barring an extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $126 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $132
Pivot Level: $136
First Major Resistance Level: $142
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 0.75% on Monday. Partially reversing a 5.04% gain from Sunday, Ripple’s XRP ended the day at $0.64359.
A mixed start to the day saw Ripple’s XRP fall to a mid-day intraday low $0.62491 before making a move.
Steering clear of the first major support level at $0.6127, Ripple’s XRP rose to a late afternoon intraday high $0.65680.
Falling short of the first major resistance level at $0.6678, Ripple’s XRP fell back to sub-$0.64 levels before finding support.
A late move back through to $0.64 levels limited the damage on the day.
At the time of writing, Ripple’s XRP was up by 0.59% to $0.64736. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.64237 before rising to a high $0.64736.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid the $0.6418 pivot to bring the first major resistance level at $0.6586 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.65 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.65680 would likely cap any upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.70. The second major resistance level sits at $0.6737.
A fall through the $0.6418 pivot would bring the first major support level at $0.6267 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6099.
Looking at the Technical Indicators
First Major Support Level: $0.6267
Pivot Level: $0.6418
First Major resistance Level: $0.6586
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
This article was originally posted on FX Empire
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