Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 16th, 2021
Ethereum
Ethereum rallied by 5.22% on Wednesday. Following a 4.58% gain on Tuesday, Ethereum ended the day at $3,615.65.
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A mixed start to the day saw Ethereum fall to an early morning intraday low $3,359.96 before making a move.
While steering clear of the first major support level at $3,325, Ethereum fell through the 23.6% FIB of $3,369.
Finding late morning support, however, Ethereum rallied to a late intraday high $3,621.15.
Ethereum broke through the first major resistance level at $3,493 and the second major resistance level at $3,551.
The extended rally also saw Ethereum broke back through the 23.6% FIB of $3,369 to end the day at $3,600 levels.
At the time of writing, Ethereum was down by 0.49% to $3,598.00. A mixed start to the day saw Ethereum rise to an early morning high $3,621.84 before falling to a low $3,597.36.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,532 pivot to bring the first major resistance level at $3,705 into play.
Support from the broader market would be needed, however, for Ethereum to break out from $3,650 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,793.
A fall through the $3,532 pivot would bring the first major support level at $3,443 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $3,369. The second major support level sits at $3,271.
Looking at the Technical Indicators
First Major Support Level: $3,443
Pivot Level: $3,532
First Major Resistance Level: $3,705
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 3.34% on Wednesday. Following a 2.06% gain on Tuesday, Litecoin ended the day at $189.24.
A mixed start to the day saw Litecoin fall to an early morning intraday low $179.59 before making a move.
Steering clear of the 23.6% FIB of $178 and the first major support level at $177, Litecoin rallied to a late intraday high $191.86.
Litecoin broke through the first major resistance level at $189 to end the day at $189 levels.
At the time of writing, Litecoin was down by 0.46% to $188.37. A mixed start to the day saw Litecoin rise to an early morning high $190.07 before falling to a low $188.33.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $187 pivot to bring the first major resistance level at $194 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $191.86.
Barring an extended crypto rally, the first major resistance level and resistance at $195 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $200. The second major resistance level sits at $199.
A fall through the $187 pivot would bring the first major support level at $182 and 23.6% FIB of $178 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$175. The second major support level at $175 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $182
Pivot Level: $187
First Major Resistance Level: $194
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 2.24% on Wednesday. Following a 3.07% rise on Tuesday, Ripple’s XRP ended the day at $1.12008.
A mixed start to the day saw Ripple’s XRP fall to a mid-morning intraday low $1.07955 before making a move.
Steering clear of the first major support level at $1.0702, Ripple’s XRP rallied to a late intraday high $1.12952.
Ripple’s XRP broke through the first major resistance level at $1.1102 and the second major resistance level at $1.1236.
A late pullback, however, saw Ripple’s XRP fall back through the second major resistance level to end the day at $0.1210 levels.
At the time of writing, Ripple’s XRP was up by 0.03% to $1.12037. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.12150 before falling to a low $1.12037.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to avoid the $1.1097 pivot to bring first major resistance level at $1.1399 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.12952.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1597.
A fall through the $1.1097 pivot would bring the first major support level at $1.0899 and the 38.2% FIB of $1.0659 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $1.0597.
Looking at the Technical Indicators
First Major Support Level: $1.0899
Pivot Level: $1.1097
First Major resistance Level: $1.1399
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
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Thanks, Bob