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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 2nd, 2021

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·5 min read
In this article:
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Ethereum

Ethereum slid by 7.45% on Thursday. Reversing a 5.13% gain from Wednesday, Ethereum ended the day at $2,107.01.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,277.44 before hitting reverse.

Falling short of the first major resistance level at $2,347, Ethereum tumbled to an early afternoon intraday low $2,072.06.

Ethereum fell through the first major support level at $2,148 before finding support.

Steering clear of the second major support level at $2,019, Ethereum returned to $2,100 levels to reduce the deficit.

At the time of writing, Ethereum was up by 1.01% to $2,128.37. A mixed start to the day saw Ethereum fall to an early morning low $2,097.64 before rising to a high $2,134.48.

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

For the day ahead

Ethereum would need to move through the $2,152 pivot to bring the first major resistance level at $2,232 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,200 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $2,277.44 would likely cap any upside.

In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,400. The second major resistance level sits at $2,358.

Failure to move through the $2,152 pivot would bring the first major support level at $2,027 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level sits at $1,947.

Looking at the Technical Indicators

First Major Support Level: $2,027

Pivot Level: $2,152

First Major Resistance Level: $2,232

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 5.03% on Thursday. Following a 0.12% gain on Wednesday, Litecoin ended the day at $137.16.

Bearish from the start to the day, Litecoin fell from an early morning intraday high $144.43 to a late intraday low $134.15.

Litecoin fell through the first major support level at $138 before finding support. A partial recovery to $137 levels limited the damage on the day.

At the time of writing, Litecoin was up by 0.92% to $138.42. A mixed start to the day saw Litecoin fall to an early low $136.45 before rising to a high $139.00.

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

For the day ahead

Litecoin would need to move through the $139 pivot to bring the first major resistance level at $143 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 and Thursday’s high $144.43 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 $149.

Failure to move through the $139 pivot would bring the first major support level at $133 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level sits at $128.

Looking at the Technical Indicators

First Major Support Level: $133

Pivot Level: $139

First Major Resistance Level: $143

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 6.24% on Thursday. Following a 0.60% loss on Wednesday, Ripple’s XRP ended the day at $0.66036.

Bearish from the start to the day, Ripple’s XRP fell from an early morning intraday high $0.70433 to a late intraday low $0.64500.

Ripple’s XRP fell through the first major support level at $0.6633 before a partial recovery and a return to $0.66 levels.

The first major first level at $0.6633 pegged Ripple’s XRP fell back late in the day.

At the time of writing, Ripple’s XRP was up by 0.74% to $0.66525. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.65810 before rising to a high $0.66686.

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 $0.6699 pivot to bring the first major resistance level at $0.6948 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.69 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.70433 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.75. The second major resistance level sits at $0.7292.

Failure to move through the $0.6699 pivot would bring the first major support level at $0.6355 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6106.

Looking at the Technical Indicators

First Major Support Level: $0.6355

Pivot Level: $0.6699

First Major resistance Level: $0.6948

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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