Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 21st, 2021

Bob Mason
·5 min read

Ethereum

Ethereum rose by 3.59% on Sunday. Reversing a 3.14% fall from Saturday, Ethereum ended the week down by 10.65% to $2,242.90.

A mixed start to the day saw Ethereum fall from a mid-morning high $2,219.52 to a midday intraday low $2,042.50.

Ethereum fell through the first major support level at $2,125 and the second major support level at $2,086.

Steering clear of sub-$2,000 support levels, Ethereum rallied to a late intraday high $2,275.78.

The bounce back saw Ethereum break through the first major resistance level at $2,242 to end the day at $2,242 levels.

At the time of writing, Ethereum was down by 0.49% to $2,232.00. A mixed start to the day saw Ethereum rise to an early morning high $2,259.10 before falling to a low $2,231.17.

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

For the day ahead

Ethereum would need to avoid the $2,187 pivot to bring the first major resistance level at $2,332 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,300 levels.

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

In the event of a broad-based crypto rally, Ethereum could test resistance at $2,500. The second major resistance level sits at $2,420.

A fall through the $2,187 pivot would bring the first major support level at $2,098 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level sits at $1,954.

Looking at the Technical Indicators

First Major Support Level: $2,098

Pivot Level: $2,187

First Major Resistance Level: $2,332

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 1.50% on Sunday. Partially reversing a 2.50% fall from Saturday, Litecoin ended the week down by 9.44% to $154.87.

Tracking the broader market, Litecoin rose to a mid-morning high $154.86 before sliding to a midday intraday low $143.81.

Litecoin fell through the first major support level at $150 and the second major support level at $147.

Steering clear of sub-$140, however, Litecoin rallied to a late intraday high $156.20. Falling short of the first major resistance level at $158, Litecoin eased back to end the day at sub-$155 levels.

At the time of writing, Litecoin was down by 0.35% to $154.33. A mixed start to the day saw Litecoin rise to an early morning high $155.45 before falling to a low $154.18.

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

For the day ahead

Litecoin would need to avoid the $152 pivot to bring the first major resistance level at $160 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $160 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 $170. The second major resistance level sits at $164.

A fall through the $152 pivot would bring the first major support level at $147 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $139.

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: $147

Pivot Level: $152

First Major Resistance Level: $160

23.6% FIB Retracement Level: $188

38.2% FIB Retracement Level: $231

62% FIB Retracement Level: $301

Ripple’s XRP

Ripple’s XRP rose by 2.07% on Saturday. Partially reversing a 4.46% loss from Saturday, Ripple’s XRP ended the week down by 12.32% to $0.77410.

A bullish start to the day saw Ripple’s XRP rise to a mid-morning high $0.76513 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP slid to a midday intraday low $0.69725.

The extended sell-off saw Ripple’s XRP slide through the first major support level at $0.7426 and the second major support level at $0.7247.

Steering clear of the third major support level at $0.6755, Ripple’s XRP rallied to a late intraday high $0.78398.

Falling short of the first major resistance level at $0.7919, however, Ripple’s XRP eased back to end the day at sub-$0.78 levels.

At the time of writing, Ripple’s XRP was down by 0.46% to $0.77051. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.77731 before falling to a low $0.77051.

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

For the day ahead

Ripple’s XRP will need to avoid the $0.7518 pivot to bring the first major resistance level at $0.8063 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.80 levels.

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

In the event of another extended rally, Ripple’s XRP could test resistance at $0.85. The second major resistance level sits at $0.8385.

A fall through the $0.7518 pivot would bring the first major support level at $0.7196 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6650.

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: $0.7196

Pivot Level: $0.7518

First Major resistance Level: $0.8063

23.6% FIB Retracement Level: $0.9612

38.2% FIB Retracement Level: $1.1532

62% FIB Retracement Level: $1.4636

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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