Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 20th, 2021

Bob Mason
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Ethereum

Ethereum fell by 3.86% on Monday. Following a 0.44% loss on Sunday, Ethereum ended the day at $1,818.44.

A mixed start to the day saw Ethereum rise to a mid-morning intraday high $1,918.65 before hitting reverse.

Falling short of the first major resistance level at $1,964, Ethereum slid to an early afternoon intraday low $1,805.47.

Ethereum fell through the first major support level at $1,849 to end the day at sub-$1,820 levels. The second major support level at $1,805 limited the downside on the day.

At the time of writing, Ethereum was flat at $1,818.48. A mixed start to the day saw Ethereum rise to an early morning high $1,822.62 before falling to a low $1,813.42.

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

For the day ahead

Ethereum would need to move through the $1,848 pivot to bring the first major resistance level at $1,900 into play.

Support from the broader market would be needed, however, for Ethereum to move back through to $1,900 levels.

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

In the event of a broad-based crypto rally, Ethereum could resistance at $2,000 before any pullback. The second major resistance level sits at $1,961.

Failure to move through the $1,848 pivot would bring the first major support level at $1,776 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,734 and the 62% FIB of $1,725 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,776

Pivot Level: $1,848

First Major Resistance Level: $1,900

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 5.06% on Monday. Following a 0.76% decline on Sunday, Litecoin ended the day at $113.17.

A mixed start to the day saw Litecoin rise to a mid-morning intraday high $120.71 before hitting reverse.

Falling short of the first major resistance level at $123, Litecoin slid to an early afternoon intraday low $111.84.

Litecoin fell through the first major support level at $116 and the second major support level at $112.

Steering clear of sub-$110 levels, Litecoin moved back through the second major support level to end the day at $113 levels.

At the time of writing, Litecoin was down by 0.13% to $113.02. A mixed start to the day saw Litecoin rise to an early high $113.34 before falling to a low $112.70.

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

For the day ahead

Litecoin would need to move through the $115 pivot to bring the first major resistance level at $119 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $115 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $120.71 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $125. The second major resistance level sits at $124.

Failure to move through the $115 pivot would bring the first major support level at $110 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level at $106 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $110

Pivot Level: $115

First Major Resistance Level: $119

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 4.86% on Monday. Reversing a 0.73% gain from Sunday, Ripple’s XRP ended the day at $0.55724.

A choppy start to the day saw Ripple’s XRP rise to an early morning intraday high $0.58872 before hitting reverse.

Falling short of the first major resistance level at $0.6016, Ripple’s XRP slid to an early afternoon intraday low $0.55372.

Ripple’s XRP fell through the first major support level at $0.5727 and the second major support level at $0.5581.

Finding late support, however, Ripple’s XRP briefly moved back through the second major support level before easing back.

At the time of writing, Ripple’s XRP was down by 0.20% to $0.55613. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.55796 before falling to a low $0.55613

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 $0.5666 pivot to bring the first major resistance level at $0.5794 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.5750 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.58 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 $0.6016.

Failure to move through the $0.5666 pivot would bring the first major support level at $0.5444 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.53 levels. The second major support level at $0.5316 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.5444

Pivot Level: $0.5666

First Major resistance Level: $0.5794

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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