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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 3rd, 2021

By:
Bob Mason
Updated: Jul 3, 2021, 00:56 UTC

It's been a mixed start to the day for the majors. Failure to revisit early highs would leave support levels in play.

Bitcoin and Litecoin over dollar banknotes.

Ethereum

Ethereum rose by 2.79% Friday. Partially reversing a 7.45% slide from Thursday, Ethereum ended the day at $2,156.00.

A bearish start to the day saw Ethereum slide to a late morning intraday low $2,017.07 before making a move.

The morning reversal saw Ethereum fall through the first major support level at $2,027.

Through the 2nd half of the day, however, Ethereum rallied to a late intraday high $2,159.43.

Falling short of the first major resistance level at $2,232, Ethereum eased back to end the day at $2,156 levels.

At the time of writing, Ethereum was down by 0.28% to $2,150.04. A mixed start to the day saw Ethereum rise to an early morning high $2,166.60 before falling to a low $2,150.04.

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

ETHUSD 030721 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,111 pivot to bring the first major resistance level at $2,205 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,200 levels.

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

In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,300. The second major resistance level sits at $2,253.

A fall through the $2,111 pivot would bring the first major support level at $2,062 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level sits at $1,967.

Looking at the Technical Indicators

First Major Support Level: $2,062

Pivot Level: $2,111

First Major Resistance Level: $2,205

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slipped by 0.09% on Friday. Following a 5.03% loss on Thursday, Litecoin ended the day at $136.91.

A mixed start to the day saw Litecoin rise to an early morning intraday high $139.00 before hitting reverse.

Falling short of the first major resistance level at $143, Litecoin slid to a late morning intraday low $130.60.

Litecoin fell through the first major support level at $133 before a partial recovery to $136 levels.

At the time of writing, Litecoin was down by 0.35% to $136.43. A mixed start to the day saw Litecoin rise to an early morning high $137.34 before falling to a low $136.43.

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

LTCUSD 030721 Hourly Chart

For the day ahead

Litecoin would need to avoid the $136 pivot to bring the first major resistance level at $140 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $140 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $139.00 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $144.

A fall through the $136 pivot would bring the first major support level at $132 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level sits at $127.

Looking at the Technical Indicators

First Major Support Level: $132

Pivot Level: $136

First Major Resistance Level: $140

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 0.34% on Friday. Following a 6.24% slide on Thursday, Ripple’s XRP ended the day at $0.65717.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.66686 before hitting reverse.

Falling short of the first major resistance level at $0.6948, Ripple’s XRP slid to a midday intraday low $0.63337.

Ripple’s XRP fell through the first major support level at $0.6355 before a partial recovery to $0.65 levels.

At the time of writing, Ripple’s XRP was down by 0.32% to $0.65509. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.65887 before falling to a low $0.65509.

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

XRPUSD 030721 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.6525 pivot to bring the first major resistance level at $0.6716 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.66686.

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 $0.70. The second major resistance level sits at $0.6860.

A fall through the $0.6525 pivot would bring the first major support level at $0.6381 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6190.

Looking at the Technical Indicators

First Major Support Level: $0.6381

Pivot Level: $0.6525

First Major resistance Level: $0.6716

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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