Advertisement
Advertisement

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 13th, 2021

By:
Bob Mason
Updated: Jul 13, 2021, 00:53 UTC

It's a bearish start to the day for the majors. Failure to move through the day's pivot levels would deliver yet more losses.

crypto currency mining concept

Ethereum

Ethereum slid by 5.17% on Monday. Reversing a 1.43% gain from Sunday, Ethereum ended the day at $2,030.72.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,169.00 before hitting reverse.

Falling short of the first major resistance level at $2,182, Ethereum slid to a late intraday low $2,002.00.

Ethereum fell through the first major support level at $2,090 and the second major support level at $2,040.

Steering clear of sub-$2,000 levels, Ethereum revisited $2,040 levels before easing back. The second major support level pinned Ethereum back late in the day.

At the time of writing, Ethereum was down by 0.41% to $2,022.43. A mixed start to the day saw Ethereum rise to an early morning high $2,033.25 before falling to a low $2,012.27.

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

ETHUSD 130721 Hourly Chart

For the day ahead

Ethereum would need to move through the $2,067 pivot to bring the first major resistance level at $2,133 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,100 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2,169.00 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $2,300 before any pullback. The second major resistance level sits at $2,234.

Failure to move through the $2,067 pivot would bring the first major support level at $1,966 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,900 levels. The second major support level at $1,900 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,966

Pivot Level: $2,067

First Major Resistance Level: $2,133

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 0.69% on Monday. Reversing a 0.17% gain from Sunday, Litecoin ended the day at $133.37.

In a mixed start to the day saw Litecoin rally to an early afternoon intraday high $139.65 before hitting reverse.

Litecoin broke through the first major resistance level at $136 and the second major resistance level at $139.

Falling short of $140 levels, however, Litecoin slid to a late intraday low $131.65.

Litecoin briefly fell through the first major support level at $132 before ending the day at $133 levels.

At the time of writing, Litecoin was down by 0.34% to $132.91. A mixed start to the day saw Litecoin rise to an early morning high $133.90 before falling to a low $132.35.

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

LTCUSD 130721 Hourly Chart

For the day ahead

Litecoin would need to move through the $135 pivot to bring the first major resistance level at $138 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $135 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $139.65 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $145. The second major resistance level sits at $143.

Failure to move through the $135 pivot would bring the first major support level at $130 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $127.

Looking at the Technical Indicators

First Major Support Level: $130

Pivot Level: $135

First Major Resistance Level: $138

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 0.80% on Monday. Partially reversing a 1.43% gain from Sunday, Ripple’s XRP ended the day at $0.62936.

A bullish start to the day saw Ripple’s XRP rally to a mid-morning intraday high $0.65681 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.6474 before sliding to a late intraday low $0.61768.

Ripple’s XRP briefly fell through the first major support level at $0.6199 before a move back through to $0.629 levels.

At the time of writing, Ripple’s XRP was down by 0.21% to $0.62805. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.62953 before falling to a low $0.62525.

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

XRPUSD 130721 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.6346 pivot to bring the first major resistance level at $0.6516 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.65 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.65681 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test the second major resistance level at $0.6737.

Failure to move through the $0.6346 pivot would bring the first major support level at $0.6125 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.60 levels. The second major support level sits at $0.5955.

Looking at the Technical Indicators

First Major Support Level: $0.6124

Pivot Level: $0.6346

First Major resistance Level: $0.6516

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

Did you find this article useful?

Advertisement