Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 18th, 2021

Ethereum

Ethereum rose by 0.21% on Thursday. Following a 6.91% slide on Wednesday, Ethereum ended the day at $2,373.33.

A bullish start to the day saw Ethereum rise to a mid-morning intraday high $2,459.53 before hitting reverse.

Falling short of the first major resistance level at $2,498, Ethereum slid to a late afternoon intraday low $2,306.35.

Steering clear of the first major support level at $2,294, however, Ethereum move back through to $2,370 levels, reversing losses from the day.

At the time of writing, Ethereum was down by 0.38% to $2,364.24. A bearish start to the day saw Ethereum fall from an early morning high $2,373.69 to a low $2,364.00.

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

For the day ahead

Ethereum would need to move through the $2,380 pivot to bring the first major resistance level at $2,453 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,450 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $2,459.53 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $2,600 before any pullback. The second major resistance level sits at $2,533.

Failure to move through the $2,380 pivot would bring the first major support level at $2,300 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level at $2,227 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,300

Pivot Level: $2,380

First Major Resistance Level: $2,453

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.36% on Thursday. Following a 4.90% decline on Wednesday, Litecoin ended the day at $167.18.

Tracking the broader market, Litecoin rose to a late morning intraday high $173.40 before hitting reverse.

Story continues

Falling short of the 62% FIB of $174 and the first major resistance level at $176, Litecoin slid to a late intraday low $162.88.

Steering clear of the first major support level at $161.55, Litecoin moved back through to $167 levels and back into positive territory.

At the time of writing, Litecoin was down by 0.35% to $166.60. A bearish start to the day saw Litecoin fall from an early morning high $167.24 to a low $166.44.

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

For the day ahead

Litecoin would need to move through the $168 pivot to bring the first major resistance level at $173 and the 62% FIB of $174 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $170 levels.

Barring an extended crypto rally, the 62% FIB would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $180. The second major resistance level sits at $178.

Failure to move through the $168 pivot would bring the first major support level at $162 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $157.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10^th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $162

Pivot Level: $168

First Major Resistance Level: $173

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rose by 0.89% on Thursday. Partially reversing a 3.95% fall from Wednesday, Ripple’s XRP ended the day at $0.84073.

A bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $0.86104 before hitting reverse.

Ripple’s XRP broke through the 62% FIB of $0.8573 and the first major resistance level at $0.8608.

The reversal, however, saw Ripple’s XRP slide back through the major support level and 62% FIB to a late intraday low $0.82341.

Steering clear of the first major support level at $0.8148, however, Ripple’s XRP ended the day at $0.84 levels.

At the time of writing, Ripple’s XRP was down by 0.12% to $0.83974. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.84006 to a low $0.83974.

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

For the day ahead

Ripple’s XRP will need to move through the $0.8417 pivot to bring the 62% FIB of $0.8573 and the first major resistance level at $0.8600 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.85 levels.

Barring an extended crypto rally, the 62% FIB and the first major resistance level would likely cap any upside.

In the event of another extended rally, Ripple’s XRP could test resistance at $0.90. The second major resistance level sits at $0.8794.

Failure to move through the $0.8417 pivot would bring the first major support level at $0.8224 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level at $0.8041 should limit the downside.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14^th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.8224

Pivot Level: $0.8417

First Major resistance Level: $0.8600

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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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