Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 24th, 2021

Ethereum

Ethereum rose by 2.52% on Monday. Following a 0.47% gain on Sunday, Ethereum ended the day at $3,323.12.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,233.19 before making a move.

Steering clear of the first major support level at $3,155, Ethereum rallied to a late intraday high $3,378.60.

Ethereum broke through the first major resistance level at $3,301 and the 23.6% FIB of $3,369 before a late pullback.

The pullback saw Ethereum fall back through the 23.6% FIB and briefly through the first major resistance level.

Late in the day, Ethereum broke back through the first major resistance level to end the day at $3,320 levels.

At the time of writing, Ethereum was up by 0.57% to $3,342.22. A mixed start to the day saw Ethereum fall to an early morning low $3,322.71 before rising to a high $3,351.14.

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

For the day ahead

Ethereum would need to avoid the $3,312 pivot to bring the 23.6% FIB of $3,369 and the first major resistance level at $3,390 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $3,378.60.

Barring an extended crypto rally, the first major resistance level and resistance at $3,400 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test resistance at $3,500. The second major resistance level sits at $3,457.

A fall through the $3,312 pivot would bring the first major support level at $3,245 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,100 levels. The second major support level at $3,166 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,245

Pivot Level: $3,312

First Major Resistance Level: $3,390

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.60% on Monday. Following a 3.48% gain on Sunday, Litecoin ended the day at $187.08.

A mixed start to the day saw Litecoin rise to a late morning intraday high $191.80 before hitting reverse.

Litecoin broke through the first major resistance level at $191 before falling to a late intraday low $183.55.

Steering clear of the first major support level at $181, Litecoin found support to end the day at $187 levels.

At the time of writing, Litecoin was up by 0.36% to $187.75. A mixed start to the day saw Litecoin fall to an early morning low $186.61 before rising to a high $188.32.

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

For the day ahead

Litecoin would need to move back through the $188 pivot to bring the first major resistance level at $191 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $181.80 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level at sits $196.

Failure to move back through the $188 pivot would bring the first major support level at $183 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major resistance level at $179 and the 23.6% FIB of $178.

Looking at the Technical Indicators

First Major Support Level: $183

Pivot Level: $188

First Major Resistance Level: $191

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 1.47% on Monday. Following a 0.91% gain on Sunday, Ripple’s XRP ended the day at $1.24621.

A bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $1.30363 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $1.2630 and the second major resistance level at $1.2896.

Coming up against resistance at $1.30 levels, Ripple’s XRP slid to an early afternoon intraday low $1.20001.

Steering clear of the first major support level at $1.1859, Ripple’s XRP moved back through to $1.24 levels and into the green.

At the time of writing, Ripple’s XRP was up by 0.11% to $1.24758. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.24391 before rising to a high $1.25120.

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

For the day ahead

Ripple’s XRP will need to move back through the $1.2500 pivot to bring first major resistance level at $1.2999 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.29 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $1.30363 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test the second major resistance level at $1.3536.

A fall through the $1.2500 pivot would bring the first major support level at $1.1963 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $1.1463.

Looking at the Technical Indicators

First Major Support Level: $1.1963

Pivot Level: $1.2500

First Major resistance Level: $1.2999

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