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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 8th, 2021

Ethereum

Ethereum fell by 0.23% on Wednesday. Following a 5.67% rally on Tuesday, Ethereum ended the day at $2,316.82.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,294.16 before making a move.

Steering clear of the first major support level at $2,228, Ethereum rallied to a mid-morning intraday high $2,411.19.

Ethereum broke through the first major resistance level at $2,383 before a pullback to sub-$2,320 levels.

At the time of writing, Ethereum was up by 0.22% to $2,321.81. A mixed start to the day saw Ethereum fall to an early morning low $2,309.09 before rising to a high $2,325.46.

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

ETHUSD 080721 Hourly Chart

For the day ahead

Ethereum would need to move through the $2,341 pivot to bring the first major resistance level at $2,387 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $2,350 levels.

Barring an extended crypto rally, the first major resistance level and resistance at Wednesday’s high $2,411.19 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 $2,458.

Failure to move through the $2,341 pivot would bring the first major support level at $2,270 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level at $2,224 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,270

Pivot Level: $2,341

First Major Resistance Level: $2,387

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 1.05% on Wednesday. Reversing a 0.78% gain from Tuesday, Litecoin ended the day at $137.42.

A mixed start to the day saw Litecoin fall an early intraday low $137.01 before making a move.

Steering clear of the first major support level at $136, Litecoin rallied to a midday intraday high $142.98.

Coming up against the first major resistance level at $143, Litecoin slid back to $137 levels and into the red.

At the time of writing, Litecoin was up by 0.04% to $137.47. A mixed start to the day saw Litecoin fall to an early morning low $137.08 before rising to a high $137.80.

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

LTCUSD 080721 Hourly Chart

For the day ahead

Litecoin would need to move through the $139 pivot to bring the first major resistance level at $141 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 resistance at Wednesday’s high $142.98 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 $145.

Failure to move through the $139 pivot would bring the first major support level at $135 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level at $133 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $135

Pivot Level: $139

First Major Resistance Level: $141

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 1.66% on Wednesday. Partially reversing a 1.96% gain from Tuesday, Ripple’s XRP ended the day at $0.65237.

A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.65965 before making a move.

Steering clear of the first major support level at $0.6517, Ripple’s XRP rose to an early morning intraday high $0.67370.

Falling short of the first major resistance level at $0.6793, however, Ripple’s XRP slid to a late intraday low $0.65055.

Ripple’s XRP fell through the first major support level at $0.6517 before ending the day at $0.652 levels.

At the time of writing, Ripple’s XRP was up by 0.02% to $0.65247. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.65092 before rising to a high $0.65256.

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

XRPUSD 080721 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.6589 pivot to bring the first major resistance level at $0.6672 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.6650 levels.

Barring an extended crypto rally, the first major resistance level and resistance at Wednesday’s high $0.67370 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.69. The second major resistance level sits at $0.6820.

Failure to move through the $0.6589 pivot would bring the first major support level at $0.6440 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the third major support level at $0.6126. The second major support level sits at $0.6357.

Looking at the Technical Indicators

First Major Support Level: $0.6440

Pivot Level: $0.6589

First Major resistance Level: $0.6672

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