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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 26th, 2021

By:
Bob Mason
Updated: Jul 26, 2021, 01:06 UTC

It's a bullish start to the day for the majors. Steering clear of the day's pivot levels would support another breakout following last week's gains.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum rose by 0.29% on Sunday. Following a 2.83% gain from Saturday, Ethereum ended the week up by 15.94% to $2,193.03.

A mixed start to the day saw Ethereum rise to an early morning high $2,196.70 before hitting reverse.

Falling short of the first major resistance level at $2,222, Ethereum fell to an early afternoon intraday low $2,108.08.

Ethereum fell through the first major support level at $2,129 before a late rally to an intraday high $2,197.05. In spite of the late move, Ethereum continued to fall well short of the major resistance levels.

At the time of writing, Ethereum was up by 0.32% to $2,200.00. A mixed start to the day saw Ethereum fall to an early morning low $2,172.99 before rising to a high $2,200.00.

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

ETHUSD 260721 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,166 pivot to bring the first major resistance level at $2,224 into play.

Support from the broader market would be needed, however, for Ethereum to breakout from Sunday’s high $2,197.05.

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

In the event of a broad-based crypto rally, Ethereum could resistance at $2,300 before any pullback. The second major resistance level sits at $2,255.

A fall the $2,166 pivot would bring the first major support level at $2,135 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,077 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,135

Pivot Level: $2,166

First Major Resistance Level: $2,224

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 1.32% on Sunday. Following a 1.46% gain on Saturday, Litecoin ended the week up by 7.24% to $127.75.

After a mixed start to the day, Litecoin rose to late morning intraday high $128.12 before hitting reverse.

Coming up against the first major resistance level at $128, Litecoin fell to an early afternoon intraday low $123.62.

Finding support at the first major support level at $124, Litecoin moved back through to $127 levels and into the green.

At the time of writing, Litecoin was up by 0.44% to $128.31. A mixed start to the day saw Litecoin fall to an early morning low $127.03 before rising to a high $128.57.

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

LTCUSD 260721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $127 pivot to bring the first major resistance level at $129 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $128.50 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $130 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $135. The second major resistance level sits at $131.

A fall through the $127 pivot would bring the first major support level at $125 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $122 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $125

Pivot Level: $127

First Major Resistance Level: $129

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 0.48% on Sunday. Following a 0.01% gain on Saturday, Ripple’s XRP ended the week up by 3.29% to $0.60678.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.61238 before hitting reverse.

Falling short of the first major resistance level at $0.6198, Ripple’s XRP slid to an early afternoon intraday low $0.59150.

Ripple’s XRP fell through the first major support level at $0.6002 before a partial recovery to $0.60 levels.

At the time of writing, Ripple’s XRP was up by 0.63% to $0.61059. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.60700 to a high $0.61059.

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

XRPUSD 260721 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.6036 pivot to bring the first major resistance level at $0.6156 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.61238.

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 $0.63 before any pullback. The second major resistance level sits at $0.6244.

A fall through the $0.6036 pivot would bring the first major support level at $0.5947 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.5827.

Looking at the Technical Indicators

First Major Support Level: $0.5947

Pivot Level: $0.6036

First Major resistance Level: $0.6156

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.

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