Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 17th, 2021

Ethereum

Ethereum fell by 1.30% on Thursday. Partially reversing a 5.22% rally from Wednesday, Ethereum ended the day at $3,568.66.

A mixed start to the day saw Ethereum rally to an early morning intraday high $3,675.92 before hitting reverse.

Falling short of the first major resistance level at $3,705, Ethereum fell to a late intraday low $3,482.97.

Steering clear of the first major support level at $3,443, Ethereum moved back through to $3,500 levels to reduce the deficit.

At the time of writing, Ethereum was down by 0.22% to $3,560.90. A mixed start to the day saw Ethereum rise to an early morning high $3,573.03 before falling to a low $3,556.61.

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

For the day ahead

Ethereum would need to move through the $3,576 pivot to bring the first major resistance level at $3,669 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $3,650 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $3,675.92 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,769.

Failure to move through the $3,576 pivot would bring the first major support level at $3,476 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level at $3,383 and the 23.6% FIB of $3,369 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,476

Pivot Level: $3,576

First Major Resistance Level: $3,669

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 2.08% on Thursday. Partially reversing a 3.34% gain from Wednesday, Litecoin ended the day at $185.33.

A mixed start to the day saw Litecoin rise to a mid-morning intraday high $195.49 before hitting reverse.

Litecoin broke through the first major resistance level at $194 before sliding to a late intraday low $181.53.

The reversal saw Litecoin fall through the first major support level at $182 before a partial recovery to $185 levels.

At the time of writing, Litecoin was up by 0.13% to $185.58. A range-bound start to the day saw Litecoin fall to an early morning low $185.26 before rising to a high $185.94.

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

For the day ahead

Litecoin would need to move through the $188 pivot to bring the first major resistance level at $193 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $195.49 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $200. The second major resistance level sits at $201.

Failure to move through the $188 pivot would bring the first major support level at $179 and 23.6% FIB of $178 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$175. The second major support level sits at $174.

Looking at the Technical Indicators

First Major Support Level: $179

Pivot Level: $188

First Major Resistance Level: $193

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 2.71% on Thursday. Reversing a 2.24% gain from Wednesday, Ripple’s XRP ended the day at $1.09108.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.13064 before hitting reverse.

Falling short of the first major resistance level at $1.1399, Ripple’s XRP slid to a late intraday low $1.06601.

Ripple’s XRP fell through the first major support level at $1.0899.

Finding support at the 23.6% FIB of $1.0659, however, Ripple’s XRP broke back through the first major support level to end the day at $1.09 levels.

At the time of writing, Ripple’s XRP was down by 0.22% to $1.08872. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.09001 to a low $1.08872.

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

For the day ahead

Ripple’s XRP would need to move through the $1.0959 pivot to bring first major resistance level at $1.1258 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.10 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.13064 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1605.

Failure to move through the $1.0959 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0612 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $1.0313.

Looking at the Technical Indicators

First Major Support Level: $1.0612

Pivot Level: $1.0959

First Major resistance Level: $1.1258

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