Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 26th, 2021
Ethereum
Ethereum rose by 0.29% on Sunday. Following a 2.83% gain from Saturday, Ethereum ended the week up by 15.94% to $2,193.03.
A mixed start to the day saw Ethereum rise to an early morning high $2,196.70 before hitting reverse.
Falling short of the first major resistance level at $2,222, Ethereum fell to an early afternoon intraday low $2,108.08.
Ethereum fell through the first major support level at $2,129 before a late rally to an intraday high $2,197.05. In spite of the late move, Ethereum continued to fall well short of the major resistance levels.
At the time of writing, Ethereum was up by 0.32% to $2,200.00. A mixed start to the day saw Ethereum fall to an early morning low $2,172.99 before rising to a high $2,200.00.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $2,166 pivot to bring the first major resistance level at $2,224 into play.
Support from the broader market would be needed, however, for Ethereum to breakout from Sunday’s high $2,197.05.
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 resistance at $2,300 before any pullback. The second major resistance level sits at $2,255.
A fall the $2,166 pivot would bring the first major support level at $2,135 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,077 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,135
Pivot Level: $2,166
First Major Resistance Level: $2,224
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 1.32% on Sunday. Following a 1.46% gain on Saturday, Litecoin ended the week up by 7.24% to $127.75.
After a mixed start to the day, Litecoin rose to late morning intraday high $128.12 before hitting reverse.
Coming up against the first major resistance level at $128, Litecoin fell to an early afternoon intraday low $123.62.
Finding support at the first major support level at $124, Litecoin moved back through to $127 levels and into the green.
At the time of writing, Litecoin was up by 0.44% to $128.31. A mixed start to the day saw Litecoin fall to an early morning low $127.03 before rising to a high $128.57.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $127 pivot to bring the first major resistance level at $129 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $128.50 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $130 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $135. The second major resistance level sits at $131.
A fall through the $127 pivot would bring the first major support level at $125 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $122 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $125
Pivot Level: $127
First Major Resistance Level: $129
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 0.48% on Sunday. Following a 0.01% gain on Saturday, Ripple’s XRP ended the week up by 3.29% to $0.60678.
A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.61238 before hitting reverse.
Falling short of the first major resistance level at $0.6198, Ripple’s XRP slid to an early afternoon intraday low $0.59150.
Ripple’s XRP fell through the first major support level at $0.6002 before a partial recovery to $0.60 levels.
At the time of writing, Ripple’s XRP was up by 0.63% to $0.61059. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.60700 to a high $0.61059.
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 $0.6036 pivot to bring the first major resistance level at $0.6156 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.61238.
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 resistance at $0.63 before any pullback. The second major resistance level sits at $0.6244.
A fall through the $0.6036 pivot would bring the first major support level at $0.5947 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.5827.
Looking at the Technical Indicators
First Major Support Level: $0.5947
Pivot Level: $0.6036
First Major resistance Level: $0.6156
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
