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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 22nd, 2021

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·5 min read
In this article:
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Ethereum

Ethereum slid by 15.93% on Monday. Reversing a 3.59% gain from Sunday, Ethereum ended the day at $1,885.67.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,259.10 before hitting reverse.

Falling short of the first major resistance level at $2,332, Ethereum slid to a late intraday low $1,864.50.

The extended sell-off saw Ethereum fall through the first major support level at $2,098 and the second major support level at $1,954.

Steering clear of sub-$1,800 support levels, Ethereum briefly revisited $1,931 levels before easing back.

At the time of writing, Ethereum was down by 0.55% to $1,875.38. A mixed start to the days saw Ethereum rise to an early morning high $1,907.22 before falling to a low $1,874.02.

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

For the day ahead

Ethereum would need to move through the $2,003 pivot to bring the first major resistance level at $2,142 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,100 levels.

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 $2,398.

Failure to move through the $2,003 pivot would bring the first major support level at $1,747 and the 62% FIB of $1,725 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level sits at $1,609.

Looking at the Technical Indicators

First Major Support Level: $1,747

Pivot Level: $2,003

First Major Resistance Level: $2,142

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin tumbled by 19.65% on Monday. Reversing a 1.50% gain from Sunday, Litecoin ended the day at $124.45.

Tracking the broader market, Litecoin rose to an early morning intraday high $155.45 before hitting reverse.

Falling short of the first major resistance level at $160, Litecoin slid to a late intraday low $124.02.

Litecoin fell through the day’s major support levels to end the day at sub-$125 levels. The third major support level at $127 pinned Litecoin back late in the day.

At the time of writing, Litecoin was down by 1.76% to $122.26. A mixed start to the day saw Litecoin rise to an early morning high $125.04 before falling to a low $122.01.

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

For the day ahead

Litecoin would need to move through the $135 pivot to bring the first major resistance level at $145 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 $160. The second major resistance level sits at $166.

Failure to move through the $135 pivot would bring the first major support level at $114 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$110 levels. The second major support level sits at $103.

A sustained fall through the 62% FIB of $174 led to a near-term bearish trend formation from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $114

Pivot Level: $135

First Major Resistance Level: $145

23.6% FIB Retracement Level: $188

38.2% FIB Retracement Level: $231

62% FIB Retracement Level: $301

Ripple’s XRP

Ripple’s XRP slumped by 21.53% on Monday. Reversing a 2.07% gain from Sunday, Ripple’s XRP ended the day at $0.60823.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.77731 before hitting reverse.

Falling short of the first major resistance level at $0.8063, Ripple’s XRP slid to a late intraday low and a new swing lo $0.60442.

The extended sell-off saw Ripple’s XRP slide through the first major support level at $0.7196 and the second major support level at $0.6650.

A late revisit to $0.62 levels was short lived, with support at $0.60 preventing heavier losses on the day.

At the time of writing, Ripple’s XRP was down by 1.19% to $0.60100. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.61377 before falling to a low $0.60100.

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 $0.6633 pivot to bring the first major resistance level at $0.7222 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.70 levels.

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

In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at $0.80. The second major resistance level sits at $0.8362.

Failure to move through the $0.6633 pivot would bring the first major support level at $0.5493 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.4904.

A sustained fall through the 62% FIB of $0.8573 led to the formation of a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.5493

Pivot Level: $0.6633

First Major resistance Level: $0.7222

23.6% FIB Retracement Level: $0.9258

38.2% FIB Retracement Level: $1.1246

62% FIB Retracement Level: $1.4459

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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