Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 22nd, 2021

Ethereum

Ethereum slid by 7.08% on Tuesday. Following a 10.58% slide on Monday, Ethereum ended the day at $2,765.69.

A choppy start to the day saw Ethereum fall to an early morning low $2,805.00.

Finding support at the first major support level at $2,810, Ethereum rose to a late morning intraday high $3,104.82.

Falling well short of the first major resistance level at $3,245, however, Ethereum slid to a late intraday low $2,651.00.

Ethereum fell through first major support level at $2,810 and the 38.2% FIB of $2,740 before a partial recovery to $2,760 levels.

At the time of writing, Ethereum was up by 0.46% to $2,778.35.  A mixed start to the day saw Ethereum fall to an early morning low $2,756.72 before rising to a high $2,791.00.

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

ETHUSD 220921 Hourly Chart

For the day ahead

Ethereum would need to move through the $2,841 pivot to bring the first major resistance level at $3,030 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,000 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 the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,294.

Failure to move through the $2,841 pivot would bring the 38.2% FIB of $2,740 and the first major support level at $2,576 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,500 levels. The second major support level sits at $2,389.

Looking at the Technical Indicators

First Major Support Level: $2,576

Pivot Level: $2,841

First Major Resistance Level: $3,030

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 5.50% on Tuesday. Following a 10.55% slide on Monday, Litecoin ended the day at $148.52.

After a choppy start to the day, Litecoin rose to a late morning intraday high $162.32 before hitting reverse.

Falling short of the first major resistance level at $171, Litecoin slid to a late intraday low $144.60.

The reversal saw Litecoin fall through the first major support level at $148 before a partial recovery to $148 levels.

At the time of writing, Litecoin was down by 0.16% to $148.28. A mixed start to the day saw Litecoin fall to an early morning low $147.85 before rising to a high $149.35.

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

LTCUSD 220921 Hourly Chart

For the day ahead

Litecoin would need to move through the $152 pivot to bring the first major resistance level at $159 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $155 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $162.32 would likely cap the upside.

In the event of another breakout, Litecoin could test the second major resistance level at $170.

Failure to move through the $152 pivot would bring the first major support level at $141 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$140. The second major support level sits at $134.

Looking at the Technical Indicators

First Major Support Level: $141

Pivot Level: $152

First Major Resistance Level: $159

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 5.22% on Tuesday. Following a 12.16% tumble on Monday, Ripple’s XRP ended the day at $0.87352.

A bearish start to the day saw Ripple’s XRP fall to an early morning low $0.86287 before making a move.

Steering clear of the 23.6% FIB of $0.8533 and the major support levels, Ripple’s XRP rose to a mid-day intraday high $0.95887.

Falling short of the first major resistance level at $1.0223, Ripple’s XRP slid to a late intraday low $0.85800.

Continuing to steer clear of the 23.6% FIB of $0.8533 and major support levels, however, Ripple’s ended the day at $0.87 levels.

At the time of writing, Ripple’s XRP was up by 0.14% to $0.87471. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.87168 before rising to a high $0.88279.

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

XRPUSD 220921 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $0.8968 pivot to bring the first major resistance level at $0.9356 into play. Support would be needed, however, for Ripple’s XRP to move back through to $0.90 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.95887 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $0.9977.

Failure to move through $0.8968 pivot would bring the 23.6% FIB of $0.8533 and the first major support level at $0.8347 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7959.

Looking at the Technical Indicators

First Major Support Level: $0.8347

Pivot Level: $0.8968

First Major resistance Level: $0.9356

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

Dollar Eases From Near 1-Month High as Fed, Evergrande Eyed

After reaching its highest level since Aug. 23 on Monday, the dollar straddled around the unchanged mark on the day, briefly moving higher as early gains on Wall Street’s benchmark equity indexes faded.

Investors are looking toward the Fed’s policy announcement on Wednesday for any signs of when the central bank will begin to scale back its massive bond-buying program, in a week filled with policy statements expected from a host of central banks around the globe.

“The market was trying to get a sense of was this turnaround Tuesday going to last, and if we had that continued improvement of risk appetite the dollar was going to pull back even more here,” said Edward Moya, senior market analyst at OANDA in New York.

“But there is just a lot of wait-and-see as far as what is going to happen with the Fed, what is going to happen with Evergrande. And right now if you are trying to make a dollar bet you really just want to wait until you get a better sense of what is going to happen with Evergrande and what the Chinese government is going to do.”

The dollar index fell 0.019% after reaching a high of 93.455 on Monday, while the euro was down 0.01% to $1.1724.

The greenback strengthened on Monday, along with other safe-havens such as the yen and Swiss franc, as concerns about the fallout from the possible default of China Evergrande unnerved financial markets.

Those concerns overshadowed efforts by Evergrande’s chairman to lift confidence in the embattled firm on Tuesday, as Beijing showed no signs it would intervene to stem any domino effects across the global economy.

The offshore Chinese yuan weakened versus the greenback to 6.4817 per dollar.

Before Evergrande’s debt crisis rattled markets, the dollar had been supported ahead of the Fed meeting this week, with economists surveyed in a Reuters poll expecting policymakers to signal expectations of a tapering plan to be pushed back to November.

The Japanese yen strengthened 0.13% versus the greenback, to 109.23 per dollar, while Sterling was last trading at $1.3658, up 0.01% on the day.

The Canadian dollar was poised to halt three straight days of declines against the greenback, after Canadian Prime Minister Justin Trudeau was re-elected to a third term but failed to win a majority in the parliamentary elections.

The Canadian dollar rose 0.06% versus the greenback at 1.28 per dollar.

In cryptocurrencies, bitcoin last fell 2.01% to $42,172.11.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Chuck Mikolajczak; Editing by Andrea Ricci and Leslie Adler)

Bitcoin Update: A Revisit of $29,000 Cannot be Excluded Just Yet

Two weeks ago, I showed you that Bitcoin (BTC) had two options “Pay me now or pay me later.” Back then, I viewed BTC as “either … setting up as a -in Elliott Wave Principle (EWP) terms- nested one-two set up or it is topping out. The difference between the two options is simple: breakout above the mid-August high ($50514), … or breakdown below the recent lows at around $46245 to target $40-44K. From there, BTC can then start its rally to $90K.

The cryptocurrency did throw a curveball*, as it broke above the $50514 high, rallied to as high as $52919, and then plunged essentially in one day down to $43500. It certainly caught me on the wrong side, but that is why one always has stops in place, as there are no guarantees in the markets, and one always has to adhere to rule number one in trading: minimize your losses. The “pop and drop” pattern into the original $40-44K target zone clarifies things. Allow me to explain below.

Figure 1. Bitcoin daily charts with detailed EWP count and technical indicators.

A Revisit of 29K is still possible

All corrections consist of at least three waves: a, b, c. See Figure 1A. Corrections are either 2nd or 4th waves. Allow me to explain. BTC topped out on September 7 at $52919 and lost 17% intra-day (red, intermediate wave-a). Then it rallied in an overlapping fashion to $48788 on September 17 (red, intermediate wave-b) and then dropped yesterday and today again to $40213 (red, intermediate wave-c). In this case, today’s low (wave-c) equaled almost precisely the length of wave-a measured from the top of wave-b (red arrow).

This length is a typical relationship for what in EWP-terms is called a zigzag correction. Besides, BTC has retraced almost precisely 50% of the rally that started in June at today’s low. In this case, I count that rally as a more significant 1st wave (black, major wave-1) as it can be assessed as having made five waves up (the five red, intermediate waves i, ii, iii, iv, and v). The current decline is then major wave-2, which could have been completed as there is now the required minimum of three waves down with a classic internal relationship. The 50%, as mentioned earlier, retrace of wave-1 is also typical for a 2nd wave.

However, Figure 1B shows the BTC Bulls are not out of the woods just yet, as the September 7 high at $52919 could also have been a more significant b-wave bounce. That means the cryptocurrency is now working its way down back the $29K region for a c-wave of a more enormous (blue) Primary-IV wave. Remember, corrections are always at least three waves, and in this case, I assess BTC having topped in April and not in March as with the Bullish option. This bearish option then allows for three waves: wave-a to the June low, wave-b to the recent September high, and now wave-c is underway. A further breakdown in price, especially below $37220 towards the shown 161.80% extension at $33255, will make this option my preferred path.

The Bulls would need to see BTC hold above $37220 and see a rally back above Saturday’s $48788 high to tell us the current three-waves down pattern have completed and a retest of $53K is in the cards. From an EWP perspective, BTC will ultimately have to break above $56K to know that larger wave-3 is underway. But, before that my indicators will have moved from down to up, from sell to buy, and my automated crypto trading alerts will have given a buy signal long before that as well.

Bottom line: Bitcoin’s price chart still has a bearish potential that can target as low as $29K before the run to $90K+ finally gets going. A continued move down towards the mid-30Ks will undoubtedly increase those odds. However, my preferred view remains that BTC has bottomed and is now working through a corrective 2nd wave that sets it up for the next launch to $75K. A breakout above Saturday’s $48788 high tells me the current three waves down pattern has been completed, which increases the odds of a new impulse higher tremendously.

*Please remember, my work is ~70% reliable and ~90% accurate. Plenty enough to give my premium crypto trading members an edge. But we must, therefore, have realistic expectations and not expect perfection and zero bad calls in a dynamic, stochastic, probabilistic environment. Therefore, all we can do is “anticipate, monitor, and adjust if necessary.”

For a look at all of today’s economic events, check out our economic calendar.

Binance Halts Several Crypto Trading Services in Australia, as Regulatory Issues Continue

In an announcement, Binance revealed its plans to stop offering certain products to Australian traders. Users from the region will have no access to leveraged tokens, options, and futures. The new guideline starts on September 24, 2021. What’s more, Australians have a 90-day period to shut down or minimize their positions.

An End to Derivative Trading in Australia

Binance continues to examine how it can relate well with global regulators. By stopping derivative trading in Australia, Binance believes it can be on the safe side of the law. Thus, Australian traders cannot complete their positions once December 23, 2021, arrives.

Furthermore, the exchange is going to close any open position after the deadline. Binance issued yet another directive to Australians in August 2021. In the report, Binance said it is restricting Australian users from opening an account with the exchange. It blocks traders from creating margin products, options, and leveraged token accounts.

The Compliance Journey

The majority of countries are against the product offerings that Binance extends to users. For instance, the Cayman Islands claims that the exchange is operating in the region illegally. The Island’s regulator says that Binance is providing digital asset services without a license.

Hosting such products in the region requires companies to obtain a waiver from Cayman’s monetary authority. The Netherlands had a similar argument with Binance in August 2021. As per the Dutch Central Bank, the platform is offering crypto services without any official registration.

The bank also says that Binance could expose users to illegal financing and money laundering activities. Other countries in conflict with Binance’s offerings include Holland, Japan, and the U.K.

Taking up Centralization

The latest development shows that Binance may adopt centralization in its operations. Binance’s head, Changpeng Zhao, admits that centralization can improve its compliance status. The statement means that the platform could reveal its headquarters in the future.

However, the downside is that governments might constantly monitor the customers’ financial dealings. Revealing such data breaks the basic rules in the crypto space concerning privacy. In the long run, involving financial regulators also allows Binance to work without any conflicts. Hence, the exchange can secure licensing support from global regulators.

For a look at all of today’s economic events, check out our economic calendar.

Bitcoin Price Prediction – Bulls Need to Revisit $45,000 to Avoid another Sell-off and sub-$40,000

After Monday’s broad-based crypto sell-off, it’s been a particularly choppy morning.

At the time of writing, Bitcoin, BTC to USD, was up by 0.19% to $43,106.0.

A choppy start to the day saw Bitcoin slid to an early morning intraday low $40,255.0 before finding support.

Bitcoin fell through the 38.2% FIB of $41,592 and the first major support level at $41,286.

Steering clear of sub-$40,000 levels, however, Bitcoin rose to a late morning intraday high $43,444.0.

While breaking back through the first major support level and the 38.2% FIB, Bitcoin fell short of the major resistance levels.

BTCUSD 210921 Hourly Chart

The Rest of the Pack

It has also been a mixed morning for the broader crypto market.

Through the morning, Crypto.com Coin was down by 2.50% to buck the morning trend.

While choppy, it’s been a relatively bullish morning for the rest of the majors, however.

At the time of writing, Bitcoin Cash SV was up by 9.87% to lead the way, with Polkadot rising by 4.54%.

Binance Coin (+1.87%), Cardano’s ADA (+1.89%), Chainlink (+1.06%), Ethereum (+2.50%), Litecoin (+1.94%), and Ripple’s XRP (+2.47%) trailed the front runners, however.

Through the early hours, the crypto total market cap fell to an early morning low $1,803bn before rising to a high $1,959bn. At the time of writing, the total market cap stood at $1,940bn.

Bitcoin’s dominance rose to an early morning high 42.40% before falling to a low 41.74%. At the time of writing, Bitcoin’s dominance stood at 41.87%.

For the Afternoon Ahead

Bitcoin would need to move through the $44,306 pivot to bring the first major resistance level at $46,046 into play.

Support from the broader market will be needed, however, for Bitcoin to break back through to $45,000 levels.

Barring a broad-based crypto rebound, resistance at $45,000 would likely leave Bitcoin short of the first major resistance level.

In the event of an extended rally through the afternoon, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $49,066.

Failure to move through the $44,306 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $41,286 back into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$40,000 support levels. The second major support level sits at $39,546.

Looking beyond the support and resistance levels, we saw the 50 EMA pullback from the 100 and the 200 EMAs through the morning.

We also saw the 100 EMA pullback from the 200 EMA, also a bearish signal.

Through the 2nd half of the day, a flattening of the 50 EMA on the 100 and 200 EMAs would provide much-needed support.

Key through the late morning and early afternoon Bitcoin would be to move through the day’s pivot to $45,000 levels, however, to support the broader market.

Bitcoin Rebounds After Serious Sell-Off

Bitcoin Failed To Settle Below $40,000 And Gained Upside Momentum

Bitcoin is currently trying to settle back above $43,000 as the world’s leading cryptocurrency rebounds after the major sell-off which took it from $47,000 to $40,200 in less than two days.

Other cryptocurrencies are also moving higher. Ethereum has recently managed to get back above the $3,000 level and is trying to settle above the 20 EMA at $3,070. Dogecoin received support at $0.20 and is trying to get above $0.21 while XRP is trying to settle back above $0.95.

Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, has moved back below 42%. This is a typical move for a bullish day in crypto markets as altcoins rebound stronger than Bitcoin, In the longer-term, this a worrisome trend for Bitcoin bulls.

Technical Analysis

bitcoin september 21 2021

Bitcoin managed to get above the resistance level at $42,600 and continues to move higher. The nearest resistance level for Bitcoin is located at $44,000.

In case Bitcoin manages to settle above the resistance at $44,000, it will gain additional upside momentum and head towards the next resistance level which is located at the 50 EMA at $45,500. A successful test of this level will open the way to the test of the resistance at the 20 EMA at $46,600. If Bitcoin settles above the 20 EMA, it will head towards the next resistance at $47,300. A move above this level will push Bitcoin towards the resistance at $48,000.

On the support side, the previous resistance level at $42,600 will serve as the first support level for Bitcoin. If Bitcoin manages to get back below this level, it will move towards the next support at $41,300.

A successful test of the support at $41,300 will push Bitcoin towards the psychologically important support level at $40,000. If Bitcoin manages to settle below $40,000, it will gain additional downside momentum and head towards the next support which is located at $39,300.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 21st, 2021

Dogecoin

Dogecoin slid by 10.43% on Monday. Following a 3.48% loss on Sunday, Dogecoin ended the day at $0.2087.

A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2335 before hitting reverse.

Falling short of the first major resistance level at $0.2394, Dogecoin slid to a mid-day intraday low $0.1990.

Dogecoin fell through the day’s major support levels before finding support.

Through the early afternoon, Dogecoin broke back through the third major support level at $0.2137 before ending the day at sub-$0.21 levels.

At the time of writing, Dogecoin was down by 2.43% to $0.2037. A mixed start to the day saw Dogecoin rise to an early morning high $0.2087 before falling to a low $0.1988.

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

DOGEUSD 210921 Hourly Chart

For the day ahead

Dogecoin would need to move through the $0.2137 pivot to bring the first major resistance level at $0.2285 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through the first major support level to $0.22 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, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2482.

Failure to move through $0.2137 pivot would bring the first major support level at $0.1940 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.18 levels. The second major support level sits at $0.1792.

Looking at the Technical Indicators

First Major Support Level: $0.1940

Pivot Level: $0.2137

First Major Resistance Level: $0.2285

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 21st, 2021

EOS

EOS tumbled by 14.58% on Monday. Following a 10.23% slump on Sunday, EOS ended the day at $4.1976.

A mixed start to the day saw EOS rise to an early morning intraday high $4.9318 before hitting reverse.

Falling short of the first major resistance level at $5.326, EOS slid to a mid-day intraday low $4.0828.

The reversal saw EOS fall through the first major support level at $4.6805 and the second major support level at $4.4471 to end the day at sub-$4.20 levels.

At the time of writing, EOS was down by 4.99% to $3.9881. A mixed start to the day saw EOS rise to an early morning high $4.2037 before falling to a low $3.8415.

EOS tested the first major support level at $3.8763 early on.

EOSUSD 210921 Hourly Chart

For the day ahead

EOS would need to move through the $4.4041 pivot to bring the first major resistance level at $4.7253 into play.

Support from the broader market would be needed to break out from $4.50 levels.

Barring a broad-based crypto rally, the first major resistance and Monday’s high $4.9318 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $5.2531 before any pullback.

Failure to move through the $4.4041 pivot would bring the first major support level at $3.8763 back into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.50 levels. The second major support level at $3.5551 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3.8763

First Major resistance Level: $4.7253

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen slid by 9.98% on Monday. Following a 2.73% fall on Sunday, Stellar’s Lumen ended the day at $0.2822.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3147 before hitting reverse.

Falling short of the first major resistance level at $0.3162, Stellar’s Lumen fell to a mid-day intraday low $0.2708.

Stellar’s Lumen fell through the day’s major support levels.

Finding late support, Stellar’s Lumen ended the day at $0.28 levels.

Late in the day, the third major support level at $0.2874 pegged Stellar’s Lumen back, however.

At the time of writing, Stellar’s Lumen was down by 3.55% to $0.2722. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.2824 before falling to a low $0.2700.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLMUSD 210921 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.2892 pivot to bring the first major resistance level at $0.3077 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.30 levels.

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

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.32 levels. The second major resistance level sits at $0.3331.

Failure to move through the $0.2892 pivot would bring the first major support level at $0.2638 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.25 levels. The second major support level sits at $0.2453.

Looking at the Technical Indicators

First Major Support Level: $0.2638

First Major Resistance Level: $0.3077

23.6% FIB Retracement Level: $0.

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX tumbled by 11.50% on Monday. Following a 2.17% loss on Sunday, Tron’s TRX ended the day at $0.09160.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.1041 before hitting reverse.

Falling short of the first major resistance level at $0.1066, Tron’s TRX fell to a mid-day intraday low $0.08929.

The sell-off saw Tron’s TRX fall through the day’s major support levels.

More significantly, Tron’s TRX also fell through the 38.2% FIB of $0.09890 to end the day at $0.091 levels.

At the time of writing, Tron’s TRX was down by 4.13% to $0.08782. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.09160 before falling to a low $0.08648.

Tron’s TRX left the major support and resistance levels untested early on.

TRXUSD 210921 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.09500 pivot to bring the 38.2% FIB of $0.09890 and the first major resistance level at $0.1007 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.10 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.1041 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1098.

Failure to move through $0.09500 pivot would bring the first major support level at $0.08589 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the 23.6% FIB of $0.07870. The second major support level at $0.08019 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.08589

First Major Resistance Level: $0.1007

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

The Crypto Daily – Movers and Shakers – September 21st, 2021

Bitcoin, BTC to USD, slid by 8.93% on Monday. Following a 2.24% decline on Sunday, Bitcoin ended the day at $43,025.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $47,327.0 before hitting reverse.

Falling short of the first major resistance level at $48,127, Bitcoin tumbled to a midday intraday low $42,567.0.

Bitcoin fell through the day’s major support levels before briefly revising $44,000 levels.

Coming up against the third major support level at $44,416, however, Bitcoin slid back to end the day at sub-$44,000 levels.

The near-term bullish trend remained intact, in spite of the latest return to $42,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Monday.

Chainlink slumped by 13.82% to lead the way down, with Bitcoin Cash SV (-12.60%) and Ripple’s XRP (-12.16%) close behind.

Things were not much better for Binance Coin (-10.91%), Cardano’s ADA (-8.87%), Crypto.com Coin (-10.28%), Ethereum (-10.58%), Litecoin (-10.55%), and Polkadot (-8.15%).

Early in the week, the crypto total market rose to a Monday high $2,122bn before sliding to a Tuesday low $1,863bn. At the time of writing, the total market cap stood at $1,870bn.

Bitcoin’s dominance fell to a Monday low 41.89% before rising to a Monday high 42.76%. At the time of writing, Bitcoin’s dominance stood at 42.38%.

This Morning

At the time of writing, Bitcoin was down by 2.51% to $41,943.0. A bearish start to the day saw Bitcoin fall from an early morning high $43,028.0 to a low $41,935.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 4.89% to lead the way down.

BTCUSD 210921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $44,306 pivot to bring the first major resistance level at $46,046 into play.

Support from the broader market would be needed for Bitcoin to break out from $45,000 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $47,000 would likely cap the upside.

In the event of a broad-based crypto rebound, Bitcoin could test resistance at $50,000 levels before any pullback. The second major resistance level sits at $49,066.

Failure to move through the $44,306 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $41,286 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000 levels. The second major support level sits at $39,546.

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

Ethereum

Ethereum slid by 10.58% on Monday. Following a 3.14% loss on Sunday, Ethereum ended the day at $2,976.48.

A mixed start to the day saw Ethereum rise to an early morning intraday high $3,346.58 before hitting reverse.

Falling short of 23.6% FIB of $3,369 and the first major resistance level at $3,431, Ethereum slid to a mid-day intraday low $2,911.81.

Ethereum fell through day’s major support levels to end the day at sub-$3,000 levels.

Through the afternoon, Ethereum had broken back through the third major support level at $2,996 before easing back.

At the time of writing, Ethereum was down by 0.67% to $2,956.40. A mixed start to the day saw Ethereum rise to an early morning high $2,977.52 before falling to a low $2,952.09.

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

ETHUSD 210921 Hourly Chart

For the day ahead

Ethereum would need to move through the $3,078 pivot to bring the first major resistance level at $3,245 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,200 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 the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,513.

Failure to move through the $3,078 pivot would bring the first major support level at $2,810 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $2,644.

Looking at the Technical Indicators

First Major Support Level: $2,810

Pivot Level: $3,078

First Major Resistance Level: $3,245

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 10.55% on Monday. Following a 3.08% decline on Sunday, Litecoin ended the day at $157.23.

A mixed start to the day saw Litecoin rise to an early morning intraday high $176.13 before hitting reverse.

Falling short of the 23.6% FIB of $178 and the first major resistance level at $181, Litecoin slid to a mid-day intraday low $153.49.

The reversal saw Litecoin fall through the day’s major support levels.

Through the afternoon, Litecoin had broken back through the third major support level at $160 before falling back.

At the time of writing, Litecoin was down by 0.90% to $155.81. A mixed start to the day saw Litecoin rise to an early morning high $157.86 before falling to a low $155.75.

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

LTCUSD 210921 Hourly Chart

For the day ahead

Litecoin would need to move through the $162 pivot to bring the first major resistance level at $171 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $165 levels.

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

In the event of another breakout, Litecoin could test resistance at the 23.6% FIB of $178 and $180. The second major resistance level sits at $185.

Failure to move through the $162 pivot would bring the first major support level at $148 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$140. The second major support level at $140 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $148

Pivot Level: $162

First Major Resistance Level: $171

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP tumbled by 12.16% on Monday. Following a 2.51% fall on Sunday, Ripple’s XRP ended the day at $0.92113.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.04991 before hitting reverse.

Falling short of the first major resistance level at $1.0312, Ripple’s XRP slid to a mid-day intraday low $0.87506.

Ripple’s XRP fell through the day’s major support levels.

Steering clear of the 23.6% FIB of $0.8533, however, Ripple’s XRP briefly revisited $0.95 levels before easing back.

At the time of writing, Ripple’s XRP was down by 1.96% to $0.9031. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.92162 to a low $0.90310.

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

XRPUSD 210921 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $0.9487 pivot to bring the first major resistance level at $1.0223 into play. Support would be needed, however, for Ripple’s XRP to move back through to $1.00 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $1.04991 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.1236. Ripple’s XRP would need plenty of support, however, to breakout from the 38.2% FIB of $1.0659.

Failure to move through $0.9487 pivot would bring the 23.6% FIB of $0.8533 and the first major support level at $0.8475 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7739.

Looking at the Technical Indicators

First Major Support Level: $0.8475

Pivot Level: $0.9487

First Major resistance Level: $1.0223

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

Evergrande Nerves Weigh on Offshore Yuan, Dollar Edges Up on Safety Bid

Market sentiment has been rattled by the potential contagion from Evergrande, which is trying to raise funds to pay a host of lenders, suppliers and investors. A deadline for an $83.5 million interest payment on one of its bonds is due on Thursday, and the company has $305 billion in liabilities.

On Thursday, the yuan strengthened to its highest level in three months at 6.4226 per dollar before starting to reverse as Evergrande’s woes worsened. The move sharpened on Monday after warnings from Chinese regulators that the company’s insolvency could fuel broader risks in the country’s financial system if not stabilized.

Analysts at Wells Fargo said on Monday they expect the dollar to reach 6.60 per yuan within the next month. The offshore Chinese yuan last weakened versus the greenback at 6.4839 per dollar.

“We are seeing a classic flight to safety in the dollar until we get some sense of clarity on whether or not it is going to be an orderly or disorderly resolution to Evergrande,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington DC.

“We were likely to see a continuation of the decline we’ve seen in risk assets going into this week and you throw in Evergrande and it has really unsettled the markets.”

The dollar and other safe-haven currencies such as the yen and Swiss franc gained with the risk-off sentiment, which saw Wall Street’s S&P 500 index on pace for its biggest one-day percentage drop 11 months.

The dollar index rose 0.025%, with the euro unchanged at $1.1725.

The dollar has also been gaining ground on expectations the Federal Reserve will begin reducing its monthly bond purchases this year, with the central bank’s policy announcement due on Wednesday.

Aside from the Fed, multiple central banks around the globe will hold policy meetings this week, including those of Sweden, England, and Norway.

The Japanese yen strengthened 0.58% versus the greenback at 109.32 per dollar, while sterling was last trading at $1.3656, down 0.63% on the day.

The Canadian dollar, also a commodity currency that correlates with risk sentiment, weakened to as low as C$1.2895 per dollar, its lowest level in four weeks. It last fell 0.42% versus the greenback at C$1.28 per dollar.

Polling for Monday’s national election in Canada points to an advantage for incumbent Prime Minister Justin Trudeau, but he is unlikely to gain a parliamentary majority.

In cryptocurrencies, bitcoin last fell 7.76% to $43,577.67.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Chuck Mikolajczak; Editing by Bernadette Baum and Cynthia Osterman)

Bitcoin Price Follows Stocks, Buckles Under Pressure

The bitcoin price is under pressure and it is dragging down the broader cryptocurrency market with it. With a dominance rate of 42.3%, bitcoin and most of the top-10 cryptocurrencies by market cap are trading in the red. Bitcoin has moved further away from the $50,000 threshold and has fallen below $44,000.

Investors are treating bitcoin similar to stocks as they abandon risk assets amid China-related fears. Bitcoin is supposed to serve as a hedge to investors as a store-of-value asset but has been buckling under pressure instead.

Short Term, Long Term

Nonetheless, bitcoin is still one of the top-performing asset classes over short-term and long-term time horizons. Year-to-date, the bitcoin price has advanced more than 50% compared to the S&P 500’s 18% gains. In the past 12 months, bitcoin is up over 300%. And in the past decade, bitcoin’s returns have trounced those of rival asset gold as well as stocks and bonds, as pointed out by Charlie Bilello, founder and CEO of Compound Capital Advisors.

Bitcoin Adoption

The bitcoin price sell-off is taking place even as the adoption of the leading cryptocurrency is on the rise. El Salvador, which recently made bitcoin legal tender in the Central American nation, has taken the opportunity during the cryptocurrency market downturn to buy more bitcoins, bolstering its holdings in the process.

President Nayib Bukele has revealed that the country has purchased 150 additional bitcoins, which at the current price suggests they doled out $6.6 million. The latest investment brings El Salvador’s tally to 700 bitcoins.

President Bukele went on to say, “They can never beat you if you buy the dips.” He is taking a page out of the book of MicroStrategy CEO Michael Saylor, who similarly has been on a buying spree. Saylor recently argued that bitcoin is a “superior store of value” to gold. He pointed to bitcoin’s returns over the past 12-months of more than 300% compared to gold’s 10% drop in the same period.

Despite the bitcoin market downturn, bullish investors are fully expecting the leading cryptocurrency to finish the year on a high note. One of the more ambitious forecasts is for the bitcoin price to hit $100,000 by the end of the year. Based on bitcoin’s history, however, it would not be out of the question.

Bitcoin Price Prediction – Bears Take Control and Eye sub-$44,000…

After a bearish end to the week for Bitcoin and the broader market, it’s been a particularly bearish morning.

At the time of writing, Bitcoin, BTC to USD, was down by 5.09% to $44,833.0.

A choppy start to the day saw Bitcoin rise to an early morning high $47,327.0 before hitting reverse.

Falling short of the first major resistance level at $48,127, Bitcoin slid to a mid-morning intraday low $44,833.0.

The sell-off saw Bitcoin fall through the first major support level at $46,594 and the second major support level at $45,949.

While steering clear of the third major support level at $44,416, Bitcoin failed to move back through to $45,000 levels.

BTCUSD 200921 Hourly Chart

The Rest of the Pack

It has also been a bearish morning for the broader crypto market.

Through the morning, Ripple’s XRP led the way down, sliding by 8.29%, with Chainlink (-7.96%) and Crypto.com Coin (-7.10%) close behind.

Binance Coin (-6.54%), Cardano’s ADA (-6.79%), Ethereum (-5.77%), and Litecoin (-6.49%) also saw deep red.

Bitcoin Cash SV (-4.04%) and Polkadot (-5.00%) saw relatively modest losses through the morning.

Through the early hours, the crypto total market cap rose to an early morning high $2,126bn before falling to a low $1,971bn. At the time of writing, the total market cap stood at $1,994bn.

Bitcoin’s dominance fell to an early morning low 41.89% before rising to a late morning high 42.48%. At the time of writing, Bitcoin’s dominance stood at 42.25%.

For the Afternoon Ahead

Bitcoin would need to move through the $47,482 pivot to bring the first major resistance level at $48,127 into play.

Support from the broader market will be needed, however, for Bitcoin to break back through the major support levels.

Barring a broad-based crypto rebound, resistance at $47,500 would likely leave Bitcoin short of the first major resistance level.

In the event of an extended rally through the afternoon, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $49,015.

Failure to move back through second major support level at $45,949 would bring the third major support level at $44,416 back into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$43,500.

Looking beyond the support and resistance levels, we saw the 50 EMA cross through the 100 and 200 EMAs through the morning.

We also saw the 100 EMA narrow on the 200 EMA, delivering further bearish signals.

Through the 2nd half of the day, a bearish cross of the 100 EMA through the 200 EMA would bring sub-$44,000 levels into play.

Key through the late morning and early afternoon would be to move back through the day’s support levels to avoid further losses and risk sub-$40,000 near-term.

Dogecoin Tests Support At $0.2190 While Bitcoin Slips Below $45,000

Crypto Markets Are Moving Lower

Dogecoin managed to settle below the support at $0.2255 and is trying to settle below the next support at $0.2190 while Bitcoin is moving towards the important support level at $44,000.

The world’s leading cryptocurrency found itself under strong pressure at the start of the week which was bearish for altcoins. Ethereum is moving towards the 50 EMA at $3,070. XRP is trying to settle below the major support at $0.95, while Shiba Inu tests its 50 EMA at $0.00000735.

In case Bitcoin manages to settle below the support at $44,000, it will gain additional downside momentum and move towards the support which is located near September lows at $42,600, which will be bearish for the whole crypto market and may put significant pressure on Dogecoin.

It should be noted that Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, is currently trying to settle above 42.5%. This move shows that pressure on altcoins is growing, which is bearish for Dogecoin.

Technical Analysis

dogecoin september 20 2021

Dogecoin is currently testing the support level at $0.2190. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

In case Dogecoin manages to settle below $0.2190, it will head towards the next support level which is located at September lows at $0.2130. A successful test of this level will open the way to the test of the support at $0.2050. If Dogecoin declines below $0.2050, it will move towards the psychologically important support level at $0.20.

On the upside, Dogecoin needs to settle back above $0.2190 to have a chance to develop upside momentum in the near term. The next resistance level is located at $0.2255. A move above this level will push Dogecoin towards the resistance at $0.23. If Dogecoin settles above the resistance at $0.23, it will head towards the next resistance level which is located at $0.2350.

For a look at all of today’s economic events, check out our economic calendar.

Sell-Offs in Crypto Market, Strong Dollar Tames Investors Appetite

The flagship crypto attempted to break the $48.5k resistance level again, but the rising dollar dampened investor sentiments.

Investors bracing for a further step towards tapering from the Federal Reserve this week pushed safe-haven currencies to a month-high in London trading on Monday as looming heavy sell-offs in riskier assets added extra nerves to a cautious mood.

Traders will be watching to see if the Fed finds the U.S. economy strong enough to start reducing the massive amounts of monetary support it has provided during the pandemic, though an announcement is likely to be delayed until the November or December meetings.

In addition to rising 0.1% to 93.356, the dollar index reached its highest level since Aug. 23.

At $2.02 trillion, the crypto market’s valuation currently stands at 5.63% lower than the previous day’s value. Bitcoin is currently trading for $45k

It was clear that Bitcoin had broken below the $48,000 level and the 100 hourly simple moving average. As seen on the hourly chart, the price failed a bullish trend line near $48,000.

Before the price declined below $46k, the price formed a swing high near $48,323.

Data from Bybt shows that 137,569 traders have been liquidated as of the date of writing. Liquidation order worth $7.17 million occurred on Bybit-BTC.

At present, $45k support is being protected by the bulls. There is now a consolidation of losses near a low that formed near that level.

Under a downside break below the $46,200 level, the $45,000 level or even $43,800 could be reached

In spite of crypto’s decentralized nature, it’s important to note that its volatility is not isolated. A crypto market’s course is determined by this factor. Bitcoin’s fluctuations affect the prices of most crypto.

Bitcoin and Ethereum – Weekly Technical Analysis – September 20th, 2021

Bitcoin

Bitcoin, BTC to USD, rose by 2.61% in the week ending 19th September. Partially reversing an 11.09% slide from the week prior, Bitcoin ended the week at $47,239.0.

A bearish start to the week saw Bitcoin fall to a Monday intraweek low $43,444.0 before making a move.

Steering clear of the first major support level at $41,877, Bitcoin rallied to a Saturday intraweek high $48,819.0.

Falling short of the 23.6% FIB of $50,473 and the first major resistance level at $51,545, Bitcoin slid back to sub-$47,000 levels before ending the week at $47,200 levels.

4 days in the red that included a 2.34% fall on Monday delivered the downside for the week.

For the week ahead

Bitcoin would need to avoid the $46,501 pivot to support a run the first major resistance level at $49,557 and the 23.6% FIB of $50,473.

Support from the broader market would be needed for Bitcoin to break out from last week’s high $48,819.0.

Barring an extended crypto rally, the 23.6% FIB would likely cap any upside.

In the event of an extended breakout, Bitcoin could test resistance at $52,000 before any pullback. The second major resistance level sits at $51,876.

A fall through the $46,501 pivot would bring the first major support level at $44,182 into play.

Barring an extended sell-off, Bitcoin should steer clear of the 38.2% FIB of $41,592. The second major support level sits at $41,126.

At the time of writing, Bitcoin was down by 0.29% to $47,103.0. A mixed start to the week saw Bitcoin rise to an early Monday high $47,327.0 before falling to a low $46,792.0.

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

BTCUSD 200921 Daily Chart

Ethereum

Ethereum fell by 2.21% in the week ending 20th September. Following a 13.87% slide from the previous week, Ethereum ended the week at $3,328.59.

A mixed start to the week saw Ethereum fall to a Monday intraweek low $3,111.14 before making a move.

While steering clear of the first major support level at $3,077, Ethereum fell through the 23.6% FIB of $3,369.

Finding Tuesday support, however, Ethereum rallied to a Thursday intraweek high $3,675.92 before sliding back into the red.

Ethereum broke back through the 23.6% FIB and also broke through the first major resistance level at $3,642.00 before falling back to sub-$3,320 levels.

4-days in the red that included a 4.73% slide on Friday delivered the downside in the week.

For the week ahead

Ethereum would need to move through the 23.6% FIB of $3,369 and the $3,372 pivot level to support a run at the first major resistance level at $3,633.

Support from the broader market would be needed, however, for Ethereum to break out from $3,550 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $3,675.92 would likely cap any upside.

In the event of another extended breakout, Ethereum could test resistance at $4,000 before any pullback. The second major resistance level sits at $3,937.

Failure to move through the 23.6% FIB and the $3,372 pivot would bring the first major support level at $3,068.

Barring an extended sell-off in the week, Ethereum should steer clear of sub-$3,000 support levels. The second major support level sits at $2,807.

At the time of writing, Ethereum was down by 0.54% to $3,310.78. A choppy start to the week saw Ethereum rise to an early Monday high $3,346.58 before falling to a low $3,259.03.

Ethereum left the major support and resistance levels untested at the start of the week.

ETHUSD 200921 Daily Chart

Dogecoin – Daily Tech Analysis – September 20th, 2021

Dogecoin

Dogecoin fell by 3.48% on Sunday. Reversing a 0.58% gain from Saturday, Dogecoin ended the week 6.93% to $0.2330.

A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2415 before hitting reverse.

Falling short of the first major resistance level at $0.2465, Dogecoin slid to a late intraday low $0.2308.

Dogecoin fell through the first major support level at $0.2371 and the second major support level at $0.2329.

Steering clear of sub-$0.23 levels, however, Dogecoin broke back through the second major support level to end the day at $0.233 levels.

At the time of writing, Dogecoin was down by 1.95% to $0.2284. A mixed start to the day saw Dogecoin rise to an early morning high $0.2335 before falling to a low $0.2254.

Dogecoin fell through the first major support level at $0.2287 early on.

DOGEUSD 200921 Hourly Chart

For the day ahead

Dogecoin would need to move through the $0.2351 pivot to bring the first major resistance level at $0.2394 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through the first major support level to $0.235 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2415 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2458.

Failure to move back through the first major support level at $0.2287 would bring the second major support level at $0.2244 back into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.22 levels. The third major support level sits at $0.2137.

Looking at the Technical Indicators

First Major Support Level: $0.2287

Pivot Level: $0.2351

First Major Resistance Level: $0.2394

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 20th, 2021

EOS

EOS slid by 10.23% on Sunday. Reversing a 4.27% gain from Saturday, EOS ended the week up by 0.69% to $4.9139.

A mixed start to the day saw EOS rise to an early morning intraday high $5.5047 before hitting reverse.

Falling short of the first major resistance level at $5.6206, EOS slid to a late intraday low $4.8592.

The reversal saw EOS fall through the first major support level at $5.2126 and the second major support level at $4.9513 to end the day at sub-$4.95 levels.

At the time of writing, EOS was down by 2.64% to $4.7843. A bearish start to the day saw EOS fall from an early morning high $4.9318 to a low $4.7293.

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

EOSUSD 200921 Hourly Chart

For the day ahead

EOS would need to move through the $5.0926 pivot to bring the first major resistance level at $5.3260 into play.

Support from the broader market would be needed to break out from $5.20 levels.

Barring a broad-based crypto rally, the first major resistance and Sunday’s high $5.5047 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $5.7381 before any pullback.

Failure to move through the $5.0926 pivot would bring the first major support level at $4.6805 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.00 levels. The second major support level at $4.4471 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4.6805

First Major resistance Level: $5.3260

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen fell by 2.73% on Sunday. Reversing a 0.81% gain from Saturday, Stellar’s Lumen ended the week down by 5.72% to $0.3134.

A mixed start to the day saw Stellar’s Lumen rise to a late morning intraday high $0.3248 before hitting reverse.

Falling short of the first major resistance level at $0.3284, Stellar’s Lumen fell to a late intraday low $0.3104.

Stellar’s Lumen fell through the first major support level at $0.3156 to end the day at $0.313 levels.

At the time of writing, Stellar’s Lumen was down by 1.70% to $0.3081. A bearish start to the day saw Stellar’s Lumen was fall from an early morning high $0.3147 to a low $0.3000.

Stellar’s Lumen fell through the first major support level at $0.3076 and the second major support level at $0.3018 early on.

XLMUSD 200921 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3162 pivot to bring the first major resistance level at $0.3220 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.32 levels.

Barring an extended rally, the first major resistance level and Sunday’s high $0.3248 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.33 levels. The second major resistance level sits at $0.3306.

Failure to move through the $0.3162 pivot would bring the first major support level at $0.3076 back into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level at $0.3018 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3076

First Major Resistance Level: $0.3220

23.6% FIB Retracement Level: $0.

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 2.17% on Sunday. Reversing a 0.28% gain from Saturday, Tron’s TRX ended the week down by 7.89% to $0.1035.

A mixed start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.1075 before hitting reverse.

Falling short of the first major resistance level at $0.1090, Tron’s TRX fell to a late intraday low $0.1022.

Finding support at the first major support level at $0.1029, however, Tron’s TRX ended the day at $0.103 levels.

At the time of writing, Tron’s TRX was down by 2.72% to $0.1007. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.1041 before falling to a low 0.9973.

Tron’s TRX fell through the first major support level at $0.1013 early on.

TRXUSD 200921 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.1044 pivot to bring the first major resistance level at $0.1066 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through the first major support level to $0.1050 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.1075 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1097.

Failure to move back through the first major support level  would bring the second major support level at $0.09910 and the 38.2% FIB of $0.9890 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.0950 levels. The third major support level sits at $0.09380.

Looking at the Technical Indicators

First Major Support Level: $0.1013

First Major Resistance Level: $0.1066

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 20th, 2021

Ethereum

Ethereum fell by 3.14% on Sunday. Reversing a 1.07% gain from Saturday, Ethereum ended the week down by 2.21% to $3,328.59.

A mixed start to the day saw Ethereum rise to a mid-morning intraday high $3,457.22 before hitting reverse.

Falling short of the first major resistance level at $3,530, Ethereum slid to a late intraday low $3,278.00.

Ethereum fell through the 23.6% FIB of $3,369 and the first major support level at $3,356.

Finding support at the second major support level at $3,276, Ethereum ended the day at $3,300 levels.

At the time of writing, Ethereum was down by 1.33% to $3,284.31. A mixed start to the day saw Ethereum rise to an early morning high $3,346.58 before falling to a low $3,283.01.

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

ETHUSD 200921 Hourly Chart

For the day ahead

Ethereum would need to move through the $3,355 pivot and the 23.6% FIB to bring the first major resistance level at $3,431 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,400 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $3,457.22 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,600 before any pullback. The second major resistance level sits at $3,534.

Failure to move through the $3,355 pivot would bring the first major support level at $3,252 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,100 levels. The second major support level at $3,175 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,252

Pivot Level: $3,355

First Major Resistance Level: $3,431

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 3.08% on Sunday. Reversing a 0.77% gain from Saturday, Litecoin ended the week down by 3.94% to $175.76.

A mixed start to the day saw Litecoin rise to an early morning intraday high $181.72 before hitting reverse.

Falling short of the first major resistance level at $186, Litecoin slid to a late intraday low $173.17.

The reversal saw Litecoin fall through the first major support level at $178 and the 23.6% FIB of $178.

Finding support at the second major support level at $174, however, Litecoin avoided sub-$170 levels.

At the time of writing, Litecoin was down by 1.95% to $172.34. A mixed start to the day saw Litecoin rise to an early morning high $176.13 before sliding to a low $171.76.

Litecoin tested the first major support level at $172 early on.

LTCUSD 200921 Hourly Chart

For the day ahead

Litecoin would need to move through the $177 pivot to bring the 23.6% FIB of $178 and the first major resistance level at $181 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $181.72 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $190. The second major resistance level sits at $185.

Failure to move through the $177 pivot would bring the first major support level at $172 back into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$165. The second major support level at $168 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $177

First Major Resistance Level: $181

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 2.51% on Sunday. Reversing a 0.84% gain from Saturday, Ripple’s XRP ended the week down by 6.41% to $1.04805.

A mixed start to the day saw Ripple’s XRP rise to a mid-morning intraday high $1.08399 before hitting reverse.

Falling short of the first major resistance level at $1.0946, Ripple’s XRP slid to a late intraday low $1.04075.

Ripple’s XRP fell through the 38.2% FIB of $1.0659 and the first major support level at $1.0569.

Steering clear of the second major support level at $1.0379, Ripple’s XRP ended the day at $1.04 levels.

At the time of writing, Ripple’s XRP was down by 3.16% to $1.01497. A bearish start to the day saw Ripple’s XRP slide from an early morning high $1.40991 to a low $1.00001.

Ripple’s XRP fell through the first major support level at $1.0312 and briefly through the second major support level at $1.0144.

XRPUSD 200921 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $1.0576 pivot to bring the 38.2% FIB of $1.0659 and the first major resistance level at $1.0744 into play. Support would be needed, however, for Ripple’s XRP to move back through the first major support level to $1.05 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, Ripple’s XRP could test the second major resistance level at $1.1008.

Failure to move back through the first major support level at $1.0312 would bring the second major support level and sub-$1.00 levels back into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the third major support level at $0.9711.

Looking at the Technical Indicators

First Major Support Level: $1.0312

Pivot Level: $1.0576

First Major resistance Level: $1.0744

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

The Crypto Daily – Movers and Shakers – September 20th, 2021

Bitcoin, BTC to USD, fell by 2.24% on Sunday. Reversing a 2.14% gain from Saturday, Bitcoin ended the week up by 2.61% to $47,239.0.

A mixed start to the day saw Bitcoin rise to a late morning intraday high $48,370.3 before hitting reverse.

Falling short of the first major resistance level at $49,063, Bitcoin slid to a late intraday low $46,837.0.

Bitcoin fell through the first major support level at $47,310 to end the day at sub-$47,300 levels. Finding late support, Bitcoin moved back through to $47,200 levels.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Sunday.

Cardano’s ADA (-3.76%), Chainlink (-3.70%), and Litecoin (-3.10%) led the way down, with Crypto.com Coin (-2.29%), Ethereum (-3.13%) and Ripple’s XRP (-2.58%) also struggling.

Binance Coin (-0.58%), Bitcoin Cash SV (-1.58%), and Polkadot (-0.79%) saw modest losses, however.

It was a mixed week ending 19th September for the majors.

Crypto.com Coin bucked the trend, rising by 2.81%.

It was a bearish week for the rest of the major, however.

Cardano’s ADA slid by 11.58% to lead the way down, with Chainlink (-6.99%), Polkadot (-7.88%), and Ripple’s XRP (-6.41%) also struggling.

Binance Coin (-1.90%), Bitcoin Cash SV (-0.24%), Ethereum (-2.21%), and Litecoin (-3.94%) saw relatively modest losses, however.

In the week, the crypto total market fell to a Monday low $1,957bn before rising to a Thursday high $2,245bn. At the time of writing, the total market cap stood at $2,111bn.

Bitcoin’s dominance fell to a Monday low 40.36% before rising to a Friday high 42.30%. At the time of writing, Bitcoin’s dominance stood at 42.02%.

This Morning

At the time of writing, Bitcoin was down by 0.29% to $47,100.3. A mixed start to the day saw Bitcoin rise to an early morning high $47,327.0 before falling to a low $47,076.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.34% to lead the way down.

BTCUSD 200921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $47,482 pivot to bring the first major resistance level at $48,127 into play.

Support from the broader market would be needed for Bitcoin to break out from $47,500 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $48,370.3 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $50,000 levels before any pullback. The second major resistance level sits at $49,015.

Failure to move through the $47,482 pivot would bring the first major support level at $46,594 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$45,500 levels. The second major support level at $45,949 should limit the downside.