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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 27th, 2021

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·5 min read
In this article:
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Ethereum

Ethereum rose by 1.64% on Monday. Following a 0.29% gain on Sunday, Ethereum ended the day at $2,228.26.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,172.99 before making a move.

Steering clear of the first major support level at $2,135, Ethereum rallied to a late intraday high $2,437.99.

Ethereum broke through the day’s major resistance levels before a late pullback to sub-$2,250 levels.

The pullback saw Ethereum fall back through the third major resistance level at $2,3444 and the second major resistance level at $2,255.

At the time of writing, Ethereum was down by 0.08% to $2,226.50. A mixed start to the day saw Ethereum rise to an early morning high $2,232.10 before falling to a low $2,222.00.

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

For the day ahead

Ethereum would need to move through the $2,280 pivot to bring the first major resistance level at $2,387 into play.

Support from the broader market would be needed, however, for Ethereum to breakout from $2,350 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2,437.99 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could resistance at $2,600 before any pullback. The second major resistance level sits at $2,545.

Failure to move through the $2,280 pivot would bring the first major support level at $2,122 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,015 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,122

Pivot Level: $2,280

First Major Resistance Level: $2,387

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.64% on Monday. Following a 1.32% gain on Sunday, Litecoin ended the day at $131.11.

A mixed start to the day saw Litecoin fall to an early morning intraday low $127.03 before making a move.

Steering clear of the first major support level at $125, Litecoin rallied to a late intraday high $140.43.

Litecoin broke through the day’s major resistance levels before a pullback to $130 levels.

The pullback saw Litecoin fall back through the third major resistance level at $136 and the second major resistance level at $131.

Finding late support, however, Litecoin broke back through the second major resistance level to end the day at $131 levels.

At the time of writing, Litecoin was down by 0.27% to $130.76. A mixed start to the day saw Litecoin rise to an early morning high $131.23 before falling to a low $130.56.

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

For the day ahead

Litecoin would need to move through the $133 pivot to bring the first major resistance level at $139 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $135 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $140.43 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 $146.

Failure to move through the $133 pivot would bring the first major support level at $125 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $120 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $125

Pivot Level: $133

First Major Resistance Level: $139

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 3.06% on Monday. Reversing a 0.48% loss from Sunday, Ripple’s XRP ended the day at $0.62558.

Bullish from the start of the day, Ripple’s XRP rallied from an early morning intraday low $0.60700 to late intraday high $0.67855.

Ripple’s XRP broke through the day’s major resistance levels before a late pullback to sub-$0.62 levels.

The late pullback saw Ripple’s XRP fall back through the third major resistance level at $0.6453 and the second major resistance level at $0.6244.

Late in the day, however, Ripple’s XRP broke back through the second major resistance level to end the day at $0.625 levels.

At the time of writing, Ripple’s XRP was down by 0.72% to $0.62105. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.62389 before falling to a low $0.62105.

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 $0.6370 pivot to bring the first major resistance level at $0.6671 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.65 levels.

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 $0.70 before any pullback. The second major resistance level sits at $0.7086.

Failure to move through the $0.6370 pivot would bring the first major support level at $0.5955 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.59 levels. The second major support level sits at $0.5655.

Looking at the Technical Indicators

First Major Support Level: $0.5955

Pivot Level: $0.6370

First Major resistance Level: $0.6671

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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