Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 16th, 2021

Ethereum

Ethereum rose by 1.36% on Sunday. Partially reversing a 1.74% fall from Saturday, Ethereum ended the week up by 9.85% to $3,310.93.

After a mixed morning, Ethereum slid to a late afternoon intraday low $3,112.96 before making a move.

Ethereum fell through the first major support level at $3,205 and the second major support level at $3,143.

A late rally, however, saw Ethereum strike a late intraday high $3,323.54.

Falling short of the first major resistance level at $3,331, Ethereum eased back to end the day at $3,310 levels.

At the time of writing, Ethereum was up by 0.64% to $3,332.27. A mixed start to the day saw Ethereum fall to an early morning low $3,292.76 before rising to a high $3,341.47

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

For the day ahead

Ethereum would need to avoid the $3,249 pivot to bring the 23.6% FIB of $3,369 and the first major resistance level at $3,385 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $3,500 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 $3,500. The second major resistance level sits at $3,460.

A fall through the $3,249 pivot would bring the first major support level at $3,175 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level at $3,039 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,175

Pivot Level: $3,249

First Major Resistance Level: $3,385

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 1.01% on Sunday. Reversing a 0.25% loss from Saturday, Litecoin ended the week up by 23.27% to $184.76.

A bullish start to the day saw Litecoin rise to an early morning intraday high $186.65 before hitting reverse.

Coming up against the first major resistance level at $187, Litecoin slid to an early afternoon intraday low $175.70.

Litecoin fell through the 23.6% FIB of $178 and the first major support level at $177 before finding support.

A late move back through the first major support level and 23.6% FIB to end the day at $184 levels delivered the upside on the day.

At the time of writing, Litecoin was up by 1.42% to $187.38. A mixed start to the day saw Litecoin fall to an early morning low $182.30 before rising to a high $187.63.

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

For the day ahead

Litecoin would need to avoid the $182 pivot to bring the first major resistance level at $189 into play.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $187.63.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level at sits $193.

A fall through the $182 pivot would bring the 23.6% FIB of $178 and the first major support level at $178 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level at $171 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $178

Pivot Level: $182

First Major Resistance Level: $189

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 0.41% on Sunday. Following a 17.57% breakout on Saturday, Ripple’s XRP ended the week up by 64.95% to $1.28584.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $1.34898 before hitting reverse.

Falling short of the first major resistance level at $1.3725, Ripple’s XRP slid to a mid-morning intraday low $1.22694.

Steering clear of the first major support level at $1.1320, Ripple’s XRP revisited $1.32 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.76% to $1.29560. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.26100 before rising to a high $1.30283.

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

For the day ahead

Ripple’s XRP will need to avoid a fall back through the $1.2873 pivot to bring first major resistance level at $1.3476 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.30 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $1.34898 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test the second major resistance level at $1.4093.

A fall back through the $1.2873 pivot would bring the first major support level at $1.2255 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.15 levels. The second major support level at $1.1652 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.2255

Pivot Level: $1.2873

First Major resistance Level: $1.3476

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