Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 21st, 2021

Ethereum

Ethereum rose by 3.21% on Friday. Following a 5.58% gain on Thursday, Ethereum ended the day at $3,286.58.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $3,178.65 before making a move.

Steering clear of the first major support level at $3,034, Ethereum rose to an early afternoon intraday high $3,300.00.

Ethereum broke through the first major resistance level at $3,261 to end the day at $3,280 levels.

At the time of writing, Ethereum was down by 0.70% to $3,263.43. A mixed start to the day saw Ethereum rise to an early morning high $3,288.17 before falling to a low $3,258.33.

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

For the day ahead

Ethereum would need to avoid the $3,255 pivot to bring the first major resistance level at $3,332 and the 23.6% FIB of $3,369 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,300 levels.

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test resistance at $3,400. The second major resistance level sits at $3,376.

A fall through the $3,255 pivot would bring the first major support level at $3,210 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,100 levels. The second major support level at $3,134 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,210

Pivot Level: $3,255

First Major Resistance Level: $3,332

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 4.61% on Friday. Following a 5.30% gain on Thursday, Litecoin ended the day at $183.67.

A mixed start to the day saw Litecoin fall to a late morning intraday low $174.12 before making a move.

Steering clear of the first major support level at $167, Litecoin rose to a late afternoon intraday high $184.00.

Litecoin broke through the first major resistance level at $180 and the 23.6% FIB of $178 to end the day at $183 levels.

At the time of writing, Litecoin was down by 0.64% to $182.50. A mixed start to the day saw Litecoin rise to an early morning high $184.20 before falling to a low $182.41.

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

For the day ahead

Litecoin would need to avoid the $181 pivot to bring the first major resistance level at $187 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $185 levels.

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 $195 before any pullback. The second major resistance level at sits $191.

A fall through the $181 pivot would bring the 23.6% FIB of $178 and the first major support level at $177 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: $177

Pivot Level: $181

First Major Resistance Level: $187

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 2.39% on Friday. Following a 7.82% rally on Thursday, Ripple’s XRP ended the day at $1.26451.

Tracking the broader market, Ripple’s XRP fell to a mid-morning intraday low $1.20029 before making a move.

Steering clear of the first major support level at $1.1385, Ripple’s XRP rallied to a late afternoon intraday high $1.28974.

Ripple’s XRP broke through the first major resistance level at $1.2826 before easing back to $1.26 levels.

At the time of writing, Ripple’s XRP was down by 1.21% to $1.24916. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.26299 to a low $1.24633.

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

For the day ahead

Ripple’s XRP will need to move back through the $1.2515 pivot to bring first major resistance level at $1.3027 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $1.28974.

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 $1.35 before any pullback. The second major resistance level sits at $1.3410.

Failure to move back through the $1.2515 pivot would bring the first major support level at $1.2133 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear the 38.2% FIB of $1.0659. The second major support level at $1.1621 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.2133

Pivot Level: $1.2515

First Major resistance Level: $1.3027

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