Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 10th, 2021

Ethereum

Ethereum rallied by 4.92% on Monday. Reversing a 4.71% slide from Sunday, Ethereum ended the day at $3,162.34.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $2,892.50 before making a move.

Ethereum fell through the first major support level before rallying to a late afternoon intraday high $3,190.00.

The breakout saw Ethereum break through the first major resistance level at $3,155 before falling back to sub-$3,100 levels.

Finding late support, however, Ethereum broke back through the first major resistance level to end the day at $3,160 levels.

At the time of writing, Ethereum was up by 0.51% to $3,178.39. A mixed start to the day saw Ethereum fall to an early morning low $3,150.00 before rising to a high $3,200.00.

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

For the day ahead

Ethereum would need to avoid the $3,082 pivot to bring the first major resistance level at $3,271 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,200 levels.

Barring an extended crypto rally, the first major resistance level 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 and the second major resistance level at $3,379.

A fall through the $3,082 pivot would bring the first major support level at $2,973 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,800 levels. The second major support level sits at $2,784.

Looking at the Technical Indicators

First Major Support Level: $2,973

Pivot Level: $3,083

First Major Resistance Level: $3,271

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin surged by 11.09% on Monday. Reversing a 3.96% fall from Sunday, Litecoin ended the day at $166.42.

A bearish start saw Litecoin fall to an early morning intraday low $145.36 before making a move.

Finding support at the first major support level at $145, Litecoin surged to a late intraday high $171.00.

Litecoin broke through the first major resistance level at $156 and the second major resistance level at $162.

A late pullback, however, saw Litecoin fall back to $162 levels before wrapping up the day at $166 levels.

The second major resistance level at $162 delivered support late on.

At the time of writing, Litecoin was down by 0.56% to $165.49. A mixed start to the day saw Litecoin rise to an early morning high $167.25 before falling to a low $165.40.

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

For the day ahead

Litecoin would need to avoid the $161 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 Monday’s high $171.00.

Barring an extended crypto rally, the first major resistance level and resistance at the 23.6% FIB of $178 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 $187.

A fall through the $161 pivot would bring the first major support level at $151 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $135.

Looking at the Technical Indicators

First Major Support Level: $151

Pivot Level: $161

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 rose by 4.93% on Monday. Reversing a 4.62% fall from Sunday, Ripple’s XRP ended the day at $0.81959.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.76107 before making a move.

Steering clear of the first major support level at $0.7543, Ripple’s XRP rallied to a late afternoon intraday high $0.82805.

Ripple’s XRP broke through the first major resistance level at $0.8232 before falling back to end the day at sub-$0.82.

At the time of writing, Ripple’s XRP was down by 0.58% to $0.81486. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.82251 before falling to a low $0.81481.

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 $0.8029 pivot to bring the first major resistance level at $0.8447 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.82805.

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 the 23.6% FIB of $0.8533 and the second major resistance level at $0.8699.

A fall through the $0.8029 pivot would bring the first major support level at $0.7778 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.76 levels. The second major support level sits at $0.7359.

Looking at the Technical Indicators

First Major Support Level: $0.7778

Pivot Level: $0.8029

First Major resistance Level: $0.8447

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