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

By:
Bob Mason
Updated: Sep 13, 2021, 01:26 UTC

After a bullish day for the majors on Sunday avoiding the day's pivot levels would support another breakout day ahead.

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Ethereum

Ethereum rose by 4.19% on Sunday. Following a 1.79% gain on Saturday, Ethereum ended the week down by 13.88% to $3,403.75.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,231.75 before making a move.

Steering clear of the first major support level at $3,195, Ethereum rallied to a mid-day intraday high $3,472.99.

Ethereum broke through the first major resistance level at $3,344 and the second major resistance level at $3,422.

The rally also saw Ethereum break through the 23.6% FIB of $3,369 before briefly falling back to sub-$3,310 levels.

Late in the day, however, Ethereum broke back through the first major resistance level and 23.6% FIB to end the day at $3,400 levels.

At the time of writing, Ethereum was up by 0.53% to $3,421.64. A mixed start to the day saw Ethereum fall to an early morning low $3,396.40 before rising to a high $3,421.64.

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

ETHUSD 130921 Hourly Chart

For the day ahead

Ethereum would need to avoid the $3,370 pivot and the 23.6% FIB of $3,369 to bring the first major resistance level at $3,507 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 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 $3,611.

Failure to move through the $3,370 pivot and the 23.6% FIB would bring the first major support level at $3,266 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level at $3,128 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,266

Pivot Level: $3,370

First Major Resistance Level: $3,507

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 2.45% on Sunday. Following a 2.55% gain on Saturday, Litecoin ended the week down by 21.24% to $182.96.

A mixed start to the day saw Litecoin fall to an early morning intraday low $175.20 before making a move.

While steering clear of the first major support level at $173, Litecoin fell through the 23.6% FIB of $178.

Finding late morning support, however, Litecoin rallied to a late intraday high $186.10.

Litecoin broke back through the 23.6% FIB and through the first major resistance level at $185.

A late sell-off, however, saw Litecoin briefly fall back to $176 levels before a late move back through the 23.6% FIB.

At the time of writing, Litecoin was up by 0.15% to $182.96. A mixed start to the day saw Litecoin fall to an early low $182.75 before rising to a high $184.87.

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

LTCUSD 130921 Hourly Chart

For the day ahead

Litecoin would need to avoid the $181 pivot to bring the first major resistance level at $188 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $185 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap the upside.

In the event of broad-based crypto rally, Litecoin could test resistance at $200. The second major resistance level sits at $192.

A fall through the $181 pivot would bring the 23.6% FIB of $178 and the first major support level at $177 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $171.

Looking at the Technical Indicators

First Major Support Level: $177

Pivot Level: $181

First Major Resistance Level: $188

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 3.93% on Sunday. Following a 2.14% gain on Saturday, Ripple’s XRP ended the week down by 14.31% to $1.11980.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.05845 before making a move.

While steering clear of the first major support level at $1.0487, Ripple’s XRP fell through the 38.2% FIB of $1.0659.

Finding early support, however, Ripple’s XRP rose to a late intraday high $1.12709 before easing back.

Ripple’s XRP broke back through the 38.2% FIB and through the first major resistance level at $1.1099 to end the day at $1.11 levels.

At the time of writing, Ripple’s XRP was up by 0.35% to $1.12373. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.12000 to a high $1.12568.

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

XRPUSD 130921 Hourly Chart

For the day ahead

Ripple’s XRP would need to avoid the $1.1018 pivot to bring first major resistance level at $1.1451 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.12 levels.

Barring an extended crypto rally, the first major resistance level 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 $1.1704.

A fall through the $1.1018 pivot would bring the first major support level at $1.0765 and the 38.2% FIB of $1.0659 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 $1.0331 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0765

Pivot Level: $1.1018

First Major resistance Level: $1.1451

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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