Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 23rd, 2021

 Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 23rd, 2021


Ethereum

Ethereum fell by 0.20% on Tuesday. Following a 15.93% slide from Monday, Ethereum ended the day at $1,881.65.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,996.67 before hitting reverse.

Falling short of the first major resistance level at $2,142, Ethereum slid to an early afternoon intraday low $1,700.00.

The extended sell-off saw Ethereum fall through the first major support level at $1,747 and the 62% FIB of $1,725.

Finding late support, Ethereum broke back through the 62% FIB and first major support level to end the day at $1,880 levels.

At the time of writing, Ethereum was down by 0.50% to $1,872.15. A mixed start to the day saw Ethereum rise to an early morning high $1,887.21 before falling to a low $1,867.89.

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

For the day ahead

Ethereum would need to avoid the $1,859 pivot to bring the first major resistance level at $2,019 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,000 levels.

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

In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,200. The second major resistance level sits at $2,156.

A fall through the $1,859 pivot would bring the 62% FIB of $1,725 and the first major support level at $1,722 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,600 levels. The second major support level sits at $1,563.

Looking at the Technical Indicators

First Major Support Level: $1,722

Pivot Level: $1,859

First Major Resistance Level: $2,019

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 3.67% on Tuesday. Following a 19.65% tumble on Monday, Litecoin ended the day at $119.83.

Tracking the broader market, Litecoin rose to an early morning intraday high $133.02 before hitting reverse.

Falling short of the first major resistance level at $145 Litecoin slid to an early afternoon intraday low and a new swing lo $105.00.

Litecoin fell through the first major support level at $114 before finding support to end the day at $119 levels.

At the time of writing, Litecoin was down by 0.39% to $119.36. A mixed start to the day saw Litecoin rise to an early morning high $120.00 before falling to a low $119.02.

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 $119 pivot to bring the first major resistance level at $134 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $130 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $133.02 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $147.

A fall back through the $119 pivot would bring the first major support level at $106 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $91.

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

Looking at the Technical Indicators

First Major Support Level: $106

Pivot Level: $119

First Major Resistance Level: $134

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 10.79% on Tuesday. Following a 21.53% slump on Monday, Ripple’s XRP ended the day at $0.54636.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.64947 before hitting reverse.

Falling short of the first major resistance level at $0.7222, Ripple’s XRP slid to an early afternoon intraday low and a new swing lo $0.50959.

The extended sell-off saw Ripple’s XRP slide through the first major support level at $0.5493 before a partial recovery to $0.54 levels.

At the time of writing, Ripple’s XRP was down by 0.45% to $0.54391. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.54636 to a low $0.54316.

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 $0.5685 pivot to bring the first major resistance level at $0.6274 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.60 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.64947 would likely cap any upside.

In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at $0.70. The second major resistance level sits at $0.7084.

Failure to move through the $0.5685 pivot would bring the first major support level at $0.4875 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.4286.

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

Looking at the Technical Indicators

First Major Support Level: $0.4875

Pivot Level: $0.5685

First Major resistance Level: $0.6274

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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