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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 19th, 2021

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·5 min read
In this article:
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Ethereum

Ethereum fell by 0.44% on Sunday. Partially reversing a 1.20% gain from Saturday, Ethereum ended the week down by 11.67% to $1,891.46.

A mixed start to the day saw Ethereum rally to an early morning intraday high $1,994.40 before hitting reverse.

Ethereum broke through the first major resistance level at $1,929 and the second major resistance level at $1,959.

Falling short of $2,000 levels, however, Ethereum slid to a late afternoon intraday low $1,878.67.

Steering clear of the first major support level at $1,860, Ethereum revisited $1,900 levels before falling back into the red.

At the time of writing, Ethereum was up by 0.77% to $1,906.00. A mixed start to the day saw Ethereum fall to an early morning low $1,886.17 before rising to a high $1,906.00.

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

For the day ahead

Ethereum would need to move through the $1,922 pivot to bring the first major resistance level at $1,964 into play.

Support from the broader market would be needed, however, for Ethereum to move back through to $1,950 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $1,994.40 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could resistance at $2,100 before any pullback. The second major resistance level sits at $2,037.

Failure to move through the $1,922 pivot would bring the first major support level at $1,849 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level at $1,806 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,849

Pivot Level: $1,922

First Major Resistance Level: $1,964

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 0.76% on Sunday. Following a 0.57% loss on Saturday, Litecoin ended the week down by 11.27% to $119.13.

A mixed start to the day saw Litecoin rally to an early morning intraday high $124.10 before hitting reverse.

Litecoin broke through the first major resistance level at $123, before sliding to an early afternoon intraday low $116.37.

Litecoin fell through the first major support level at $117 before briefly revisiting $122 levels. A bearish end to the day, however, saw Litecoin fall back to $117 levels before steadying. The first major support level limited the downside late in the day.

At the time of writing, Litecoin was up by 0.59% to $119.83. A mixed start to the day saw Litecoin fall to an early low $118.85 before rising to a high $120.07.

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

For the day ahead

Litecoin would need to move back through the $120 pivot to bring the first major resistance level at $123 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $120 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $124.10 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $130. The second major resistance level sits at $128.

Failure to move back through the $120 pivot would bring the first major support level at $116 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$110 levels. The second major support level at $112 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $116

Pivot Level: $120

First Major Resistance Level: $123

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 0.73% on Sunday. Partially reversing a 1.59% loss from Saturday, Ripple’s XRP ended the week down by 7.49% to $0.58743.

Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.60110 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.5993 before sliding to an early afternoon intraday low $0.57223.

Steering clear of the first major support level at $0.5628, Ripple’s XRP before a briefly revisited $0.59 levels. A bearish end to the day, however, saw Ripple’s XRP fall back to sub-$0.59 levels to limit the upside.

At the time of writing, Ripple’s XRP was up by 0.22% to $0.58872. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.58486 before rising to a high $0.58872.

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

For the day ahead

Ripple’s XRP will need to avoid a fall back through the $0.5869 pivot to bring the first major resistance level at $0.6016 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.5950 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.6011 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.62 before any pullback. The second major resistance level sits at $0.6158.

A fall back through the $0.5869 pivot would bring the first major support level at $0.5727 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.5581.

Looking at the Technical Indicators

First Major Support Level: $0.5727

Pivot Level: $0.5869

First Major resistance Level: $0.6016

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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