Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 12th, 2021

Ethereum

Ethereum rose by 1.43% on Sunday. Partially reversing a 1.72% fall from Saturday, Ethereum ended the week down by 7.85% to $2,140.82.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,081.51 before making a move.

Finding support at the first major support level at $2,059, Ethereum rallied to a late intraday high $2,173.37.

Coming within range of the first major resistance level at $2,177, Ethereum eased back to end the day at sub-$2,150 levels.

At the time of writing, Ethereum was down by 0.40% to $2,132.28. A mixed start to the day saw Ethereum rise to an early morning high $2,142.63 before falling to a low $2,126.69.

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

For the day ahead

Ethereum would need to avoid a fall back through the $2,132 pivot to bring the first major resistance level at $2,182 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,173.37.

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 $2,250 before any pullback. The second major resistance level sits at $2,224.

A fall back through the $2,132 pivot would bring the first major support level at $2,090 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,040 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,090

Pivot Level: $2,132

First Major Resistance Level: $2,182

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.17% on Sunday. Partially reversing a 0.45% loss from Saturday, Litecoin ended the week down by 7.37% to $134.26.

A mixed start to the day saw Litecoin fall to an early intraday low $132.13 before making a move.

Story continues

Steering clear of the first major support level at $131, Litecoin rallied to a late intraday high $136.44.

Falling short of the first major resistance level at $137, Litecoin eased back to end the day at $134 levels.

At the time of writing, Litecoin was up by 0.05% to $134.33. A mixed start to the day saw Litecoin rise to an early morning high $134.44 before falling to a low $133.63.

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

For the day ahead

Litecoin would need to avoid a fall back through the $134 pivot to bring the first major resistance level at $136 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $136 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $136.44 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 $139.

A fall back through the $134 pivot would bring the first major support level at $132 into play.

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

Looking at the Technical Indicators

First Major Support Level: $132

Pivot Level: $134

First Major Resistance Level: $136

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 1.43% on Sunday. Partially reversing a 1.98% fall from Saturday, Ripple’s XRP ended the week down by 8.75% to $0.63499.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.61227 before making a move.

Steering clear of the first major support level at $0.6086, Ripple’s XRP rallied to a late afternoon intraday high $0.64478.

Ripple’s XRP broke through the first major resistance level at $0.6442 before a slide back to sub-$0.63 levels.

Finding late support, however, revisited $0.64 levels before a 2^nd pullback to end the day at sub-$0.64 levels.

At the time of writing, Ripple’s XRP was flat at $0.63497. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.63601 before falling to a low $0.63304.

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 $0.6323 pivot to bring the first major resistance level at $0.6474 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.6450 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 $0.6599.

A fall through the $0.6323 pivot would bring the first major support level at $0.6199 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.60 levels. The second major support level at $0.6048 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.6199

Pivot Level: $0.6323

First Major resistance Level: $0.6474

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

This article was originally posted on FX Empire

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