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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 10th, 2021

By:
Bob Mason
Updated: Sep 10, 2021, 00:55 UTC

After a mixed day for the majors on Thursday, move through the day's pivot levels to revisit Thursday's highs would be needed to avoid a pullback.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum fell by 2.13% on Thursday. Reversing a 1.85% gain from Wednesday, Ethereum ended the day at $3,424.32.

A mixed start to the day saw Ethereum rise to a late morning intraday high $3,568.59 before hitting reverse.

Falling short of the first major resistance level at $3,636.88, Ethereum fell to a mid-day intraday low $3,393.17.

Steering clear of the 23.6% FIB of $3,369 and the first major support level at $3,290, Ethereum revisited $3,550 levels before easing back.

At the time of writing, Ethereum was down by 0.20% to $3,418.18. A mixed start to the day saw Ethereum fall to an early low $3,416.69 before rising to a high $3,442.00.

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

ETHUSD 100921 Hourly Chart

For the day ahead

Ethereum would need to move through the $3,462 pivot to bring the first major resistance level at $3,531 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,500 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $3,568,59 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,700 before any pullback. The second major resistance level sits at $3,638.

Failure to move through the $3,462 pivot would bring the 23.6% FIB of $3,369 and the first major support level at $3,356 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level sits at $3,287.

Looking at the Technical Indicators

First Major Support Level: $3,356

Pivot Level: $3,462

First Major Resistance Level: $3,531

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.91% on Thursday. Following a 0.65% gain on Wednesday, Litecoin ended the day at $180.42.

A mixed start to the day saw Litecoin fall to an early morning intraday low $176.55 before making a move.

While steering clear of the first major support level at $170, Litecoin fell through the 23.6% FIB of $178 before rising to an early afternoon intraday high $188.85.

Coming up against the first major resistance level at $189, however, Litecoin eased back to end the day at sub-$181 levels.

At the time of writing, Litecoin was down by 0.29% to $179.90. A mixed start to the day saw Litecoin rise to an early morning high $181.40 before falling to a low $179.90.

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

LTCUSD 100921 Hourly Chart

For the day ahead

Litecoin would need to move through the $182 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 and Thursday’s high $188.85 would likely cap the upside.

In the event of broad-based crypto rally, Litecoin could the second major resistance level at $200. The second major resistance level sits at $194.

Failure to move through the $182 pivot would bring the 23.6% FIB of $178 and the first major support level at $175 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level at $170 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $175

Pivot Level: $182

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 fell by 1.15% on Thursday. Following a 2.62% decline on Wednesday, Ripple’s XRP ended the day at $1.08799.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $1.13805 before hitting reverse.

Falling short of the first major resistance level at $1.1606, Ripple’s XRP fell to a mid-day intraday low $1.07336.

Steering clear of the 38.2% FIB of $1.0659 and the first major support level at $1.0262, Ripple’s XRP revisited $1.12 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.05% to $1.08747. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.09327 before falling to a low $1.08701.

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

XRPUSD 100921 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $1.0998 pivot to bring first major resistance level at $1.1262 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.10 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.13805 would likely cap the upside.

In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1645.

Failure to move through the $1.0998 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0616 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level at $1.0351 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0616

Pivot Level: $1.0998

First Major resistance Level: $1.1262

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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