Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 20th, 2021

Ethereum

Ethereum fell by 3.14% on Sunday. Reversing a 1.07% gain from Saturday, Ethereum ended the week down by 2.21% to $3,328.59.

A mixed start to the day saw Ethereum rise to a mid-morning intraday high $3,457.22 before hitting reverse.

Falling short of the first major resistance level at $3,530, Ethereum slid to a late intraday low $3,278.00.

Ethereum fell through the 23.6% FIB of $3,369 and the first major support level at $3,356.

Finding support at the second major support level at $3,276, Ethereum ended the day at $3,300 levels.

At the time of writing, Ethereum was down by 1.33% to $3,284.31. A mixed start to the day saw Ethereum rise to an early morning high $3,346.58 before falling to a low $3,283.01.

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

For the day ahead

Ethereum would need to move through the $3,355 pivot and the 23.6% FIB to bring the first major resistance level at $3,431 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,400 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $3,457.22 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,600 before any pullback. The second major resistance level sits at $3,534.

Failure to move through the $3,355 pivot would bring the first major support level at $3,252 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,100 levels. The second major support level at $3,175 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,252

Pivot Level: $3,355

First Major Resistance Level: $3,431

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 3.08% on Sunday. Reversing a 0.77% gain from Saturday, Litecoin ended the week down by 3.94% to $175.76.

A mixed start to the day saw Litecoin rise to an early morning intraday high $181.72 before hitting reverse.

Falling short of the first major resistance level at $186, Litecoin slid to a late intraday low $173.17.

The reversal saw Litecoin fall through the first major support level at $178 and the 23.6% FIB of $178.

Finding support at the second major support level at $174, however, Litecoin avoided sub-$170 levels.

At the time of writing, Litecoin was down by 1.95% to $172.34. A mixed start to the day saw Litecoin rise to an early morning high $176.13 before sliding to a low $171.76.

Litecoin tested the first major support level at $172 early on.

For the day ahead

Litecoin would need to move through the $177 pivot to bring the 23.6% FIB of $178 and the first major resistance level at $181 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $181.72 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $190. The second major resistance level sits at $185.

Failure to move through the $177 pivot would bring the first major support level at $172 back into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$165. The second major support level at $168 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $177

First Major Resistance Level: $181

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 2.51% on Sunday. Reversing a 0.84% gain from Saturday, Ripple’s XRP ended the week down by 6.41% to $1.04805.

A mixed start to the day saw Ripple’s XRP rise to a mid-morning intraday high $1.08399 before hitting reverse.

Falling short of the first major resistance level at $1.0946, Ripple’s XRP slid to a late intraday low $1.04075.

Ripple’s XRP fell through the 38.2% FIB of $1.0659 and the first major support level at $1.0569.

Steering clear of the second major support level at $1.0379, Ripple’s XRP ended the day at $1.04 levels.

At the time of writing, Ripple’s XRP was down by 3.16% to $1.01497. A bearish start to the day saw Ripple’s XRP slide from an early morning high $1.40991 to a low $1.00001.

Ripple’s XRP fell through the first major support level at $1.0312 and briefly through the second major support level at $1.0144.

For the day ahead

Ripple’s XRP would need to move through the $1.0576 pivot to bring the 38.2% FIB of $1.0659 and the first major resistance level at $1.0744 into play. Support would be needed, however, for Ripple’s XRP to move back through the first major support level to $1.05 levels.

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

In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.1008.

Failure to move back through the first major support level at $1.0312 would bring the second major support level and sub-$1.00 levels back into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the third major support level at $0.9711.

Looking at the Technical Indicators

First Major Support Level: $1.0312

Pivot Level: $1.0576

First Major resistance Level: $1.0744

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