Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 23rd, 2021

Ethereum

Ethereum rose by 0.47% on Sunday. Partially reversing a 1.83% decline from Saturday, Ethereum ended the week down by 2.10% to $3,241.42.

A mixed start to the day saw Ethereum rise to a late morning intraday high $3,275.00.

Falling short of the first major resistance level at $3,290, Ethereum eased slid to a late afternoon intraday low $3,128.82.

Ethereum fell through the first major support level at $3,186 and the second major support level at $3,144.

Finding late support, however, Ethereum moved back through the major support levels to end the day at $3,240 levels.

At the time of writing, Ethereum was up by 0.48% to $3,257.02. A mixed start to the day saw Ethereum fall to an early morning low $3,235.44 before rising to a high $3,260.71.

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

For the day ahead

Ethereum would need to avoid the $3,215 pivot to bring the first major resistance level at $3,301 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 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test the 23.6% FIB of $3,369. The second major resistance level sits at $3,361.

A fall through the $3,215 pivot would bring the first major support level at $3,155 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level at $3,069 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,155

Pivot Level: $3,215

First Major Resistance Level: $3,301

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.48% on Sunday. Reversing a 2.11% loss from Saturday, Litecoin ended the week up by 0.65% to $185.97.

A mixed start to the day saw Litecoin rise to a mid-morning intraday high $189.81 before hitting reverse.

Litecoin broke through the first major resistance level at $184 and the second major resistance level at $188.

Coming up against resistance at $190, Litecoin slid to a late intraday low $178.71.

Steering clear of the 23.6% FIB of $178 and the first major support level at $176, Litecoin found support to end the day at $185 levels.

At the time of writing, Litecoin was up by 0.38% to $186.67. A mixed start to the day saw Litecoin fall to an early low $185.85 before rising to a high $186.86.

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

For the day ahead

Litecoin would need to avoid the $185 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 Sunday’s high $189.81.

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 $195.

A fall through the $185 pivot would bring the first major support level at $181 and the 23.6% FIB of $178 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $175.

Looking at the Technical Indicators

First Major Support Level: $181

Pivot Level: $185

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 rose by 0.91% on Saturday. Partially reversing a 3.57% fall from Saturday, Ripple’s XRP ended the week down by 4.55% to $1.22737.

Tracking the broader market, Ripple’s XRP rose to a late morning intraday high $1.25708 before hitting reverse.

Falling short of the first major resistance level at $1.2645, Ripple’s XRP slid to a mid-afternoon intraday low $1.18000.

Ripple’s XRP fell through the first major support level at $1.1868 before ending the day at $1.22 levels.

At the time of writing, Ripple’s XRP was up by 0.21% to $1.22998. A mixed start to the day saw Ripple’s XRP fall to an early low $1.22752 before rising to a high $1.23399.

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 $1.2215 pivot to bring first major resistance level at $1.2630 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.25 levels.

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 $1.30 before any pullback. The second major resistance level sits at $1.2986.

A fall through the $1.2215 pivot would bring the first major support level at $1.1859 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels. The second major support level sits at $1.1444.

Looking at the Technical Indicators

First Major Support Level: $1.1859

Pivot Level: $1.2215

First Major resistance Level: $1.2630

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