Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 13th, 2021

Ethereum

Ethereum fell by 3.64% on Thursday. Reversing a 0.65% gain from Wednesday, Ethereum ended the day at $3,047.21.

A mixed start to the day saw Ethereum rise to an early morning intraday high $3,239.69 before hitting reverse.

Falling short of the first major resistance level at $3,251, Ethereum fell to a late afternoon intraday low $2,980.00.

Ethereum fell through the first major support level at $3,098 and the second major support level at $3,034.

Finding late support, however, Ethereum broke back through the second major support level to end the day at $3,040 levels.

At the time of writing, Ethereum was up by 0.61% to $3,065.91. A mixed start to the day saw Ethereum fall to an early morning low $3,034.52 before rising to a high $3,074.78.

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

For the day ahead

Ethereum would need to move through the $3,089 pivot to bring the first major resistance level at $3,198 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $3,150 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $3,239.69 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,349.

Failure to move through the $3,089 pivot would bring the first major support level at $2,938 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,900 levels. The second major support level sits at $2,829.

Looking at the Technical Indicators

First Major Support Level: $2,938

Pivot Level: $3,089

First Major Resistance Level: $3,197

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 3.05% on Thursday. Reversing most of a 3.24% gain from Wednesday, Litecoin ended the day at $165.51.

A mixed start to the day saw Litecoin rise to an early morning intraday high $179.79 before hitting reverse.

Story continues

Litecoin broke through the first major resistance level at $177 and the 23.6% FIB of $178.

The reversal, however, saw Litecoin slide to a late afternoon intraday low $160.83.

Litecoin fell through the first major support level at $165 before a late partial recovery to wrap up the day at $165 levels.

At the time of writing, Litecoin was up by 1.31% to $167.67. A mixed start to the day saw Litecoin fall to an early morning low $163.95 before rising to a high $167.78.

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

For the day ahead

Litecoin would need to move through the $169 pivot to bring the first major resistance level at $177 and the 23.6% FIB of $178 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $175 levels.

Barring an extended crypto rally, the first major resistance level and 23.6% FIB would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level at sits $188.

Failure to move through the $169 pivot would bring the first major support level at $158 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$155 levels. The second major support level sits at $150.

Looking at the Technical Indicators

First Major Support Level: $158

Pivot Level: $169

First Major Resistance Level: $177

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slid by 4.55% on Thursday. Partially reversing an 18.89% surge from Wednesday, Ripple’s XRP ended the day at $0.96577.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.04438 before hitting reverse.

Falling short of the first major resistance level at $1.1186, Ripple’s XRP slid to a late afternoon intraday low $0.93341.

Steering clear of the first major support level at $0.8771, Ripple’s XRP revisited $0.97 levels before easing back.

At the time of writing, Ripple’s XRP was up by 1.14% to $0.97675. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.98132 before falling to a low $0.95130.

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

For the day ahead

Ripple’s XRP will need to move back through the $0.9812 pivot to bring first major resistance level at $1.0290 into play.

Support from the broader market 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 Thursday’s high $1.04438 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $1.15 before any pullback. The second major resistance level sits at $1.0922.

Failure to move back through the $0.9812 pivot would bring the first major support level at $0.9180 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.90 levels. The second major support level sits at $0.8702.

Looking at the Technical Indicators

First Major Support Level: $0.9180

Pivot Level: $0.9812

First Major resistance Level: $1.0290

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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