Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 14th, 2021

Ethereum

Ethereum rallied by 9.10% on Friday. Reversing a 3.64% fall from Thursday, Ethereum ended the day at $3,324.51.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,034.52 before making a move.

Steering clear of the first major support level at $2,938, Ethereum rallied to a late intraday high $3,330.00.

Ethereum broke through the first major resistance level at $3,198 to end the day at $3,300 levels.

At the time of writing, Ethereum was down by 0.26% to $3,315.85. A mixed start to the day saw Ethereum fall to an early low $3,285.92 before rising to a high $3,328.97.

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

For the day ahead

Ethereum would need to avoid the $3,230 pivot to bring the 23.6% FIB of $3,369 and the first major resistance level at $3,425 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 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test resistance at $3,600. The second major resistance level sits at $3,525.

A fall through the $3,230 pivot would bring the first major support level at $3,129 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level sits at $2,934.

Looking at the Technical Indicators

First Major Support Level: $3,129

Pivot Level: $3,230

First Major Resistance Level: $3,425

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rallied by 10.81% on Friday. Reversing a 3.05% loss from Thursday, Litecoin ended the day at $183.42.

A mixed start to the day saw Litecoin fall to an early morning intraday low $163.95 before making a move.

Steering clear of the first major support level at $158, Litecoin rallied to a late intraday high $184.70.

Litecoin broke through the first major resistance level at $177 and the 23.6% FIB of $178 to end the day at $183 levels.

At the time of writing, Litecoin was up by 0.30% to $183.97. A mixed start to the day saw Litecoin fall to an early morning low $181.51 before rising to a high $185.11.

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

For the day ahead

Litecoin would need to avoid the 23.6% FIB and the $177 pivot to bring the first major resistance level at $191 into play.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $185.11.

Barring an extended crypto rally, the first major resistance level 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 $198.

A fall through the 23.6% FIB of $178 and the $177 pivot would bring the first major support level at $170 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$165 levels. The second major support level sits at $157.

Looking at the Technical Indicators

First Major Support Level: $170

Pivot Level: $177

First Major Resistance Level: $191

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 12.80% on Friday. Reversing a 4.55% slide from Thursday, Ripple’s XRP ended the day at $1.09072.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.95130 before making a move.

Steering clear of the first major support level at $0.9180, Ripple’s XRP rallied to a late intraday high $1.09695.

Ripple’s XRP broke through the first major resistance level at $1.0290 and the second major resistance level at $1.0922.

A late pullback, however, saw Ripple’s XRP fall back through the second major resistance level to wrap up the day at $1.090 levels.

At the time of writing, Ripple’s XRP was down by 0.31% to $1.08731. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.11000 before falling to a low $1.07108.

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 $1.0463 pivot to bring first major resistance level at $1.1413 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $1.11000.

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 $1.20 before any pullback. The second major resistance level sits at $1.1920.

A fall through the $1.0463 pivot would bring the first major support level at $0.9957 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.95 levels. The second major support level sits at $0.9007.

Looking at the Technical Indicators

First Major Support Level: $0.9957

Pivot Level: $1.0463

First Major resistance Level: $1.1413

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