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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 15th, 2021

Ethereum

Ethereum rose by 2.77% on Wednesday. Partially reversing a 4.43% fall from Tuesday, Ethereum ended the day at $1,994.11.

A bearish start to the day saw Ethereum fall to a late morning intraday low $1,865.50 before making a move.

Ethereum fell through the first major support level at $1,890 before rallying to an early afternoon intraday high $2,019.90.

Coming up against the first major resistance level at $2,020, however, Ethereum slipped back to end the day at sub-$2,000 levels.

At the time of writing, Ethereum was down by 0.27% to $1,988.64. A mixed start to the day saw Ethereum rise to an early morning high $1,998.58 before falling to a low $1,986.64.

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

ETHUSD 150721 Hourly Chart

For the day ahead

Ethereum would need to avoid the $1,960 pivot to bring the first major resistance level at $2,054 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $2,019.90.

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 the second major resistance level at $2,114.

A fall through the $1,960 pivot would bring the first major support level at $1,900 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level at $1,805 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,900

Pivot Level: $1,960

First Major Resistance Level: $2,054

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 0.31% on Wednesday. Following a 1.45% fall from Tuesday, Litecoin ended the day at $131.02.

In a bearish start to the day saw Litecoin slide to an early morning intraday low $123.88 before making a move.

Litecoin fell through the first major support level at $129 and the second major support level at $127.

Steering clear of the third major support level at $122, however, Litecoin struck an early afternoon intraday high $132.39.

Falling well short of the first major resistance level at $134, Litecoin eased back to end the day at $131 levels.

At the time of writing, Litecoin was down by 0.08% to $130.91. a mixed start to the day saw Litecoin rise to an early morning high $131.51 before falling to a low $130.80.

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

LTCUSD 150721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $129 pivot to bring the first major resistance level at $134 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $132.09.

Barring an extended crypto rally, the first major resistance level and resistance at $135 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $140. The second major resistance level sits at $137.

A fall through the $129 pivot would bring the first major support level at $126 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $121 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $126

Pivot Level: $129

First Major Resistance Level: $134

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 0.21% on Wednesday. Following a 1.76% fall from Tuesday, Ripple’s XRP ended the day at $0.62000.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.58370 before making a move.

Ripple’s XRP fell through the first major support level at $0.6030 and the second major support level at $0.5881.

Steering clear of sub-$0.58 levels, Ripple’s XRP rallied to a late afternoon intraday high $0.62407.

Falling well short of the first major resistance level at $0.6381, however, Ripple’s XRP eased back to end the day at $0.62000.

At the time of writing, Ripple’s XRP was down by 0.60% to $0.61625. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.62186 before falling to a low $0.61625.

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

XRPUSD 150721 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.6093 pivot to bring the first major resistance level at $0.6348 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.63 levels.

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

In the event of another breakout, Ripple’s XRP could test the second major resistance level at $0.6496.

A fall through the $0.6093 pivot would bring the first major support level at $0.5944 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.58 levels. The second major support level sits at $0.5689.

Looking at the Technical Indicators

First Major Support Level: $0.5944

Pivot Level: $0.6093

First Major resistance Level: $0.6348

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