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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 18th, 2021

By:
Bob Mason
Updated: Sep 18, 2021, 00:55 UTC

Following another day in the deep red, the major will need to move through the day's pivot levels to restore confidence and avoid heavier losses.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum slid by 4.73% on Friday. Following a 1.30% loss on Thursday, Ethereum ended the day at $3,400.00.

A mixed start to the day saw Ethereum rise to an early morning intraday high $3,595.00 before hitting reverse.

Falling short of the first major resistance level at $3,669, Ethereum slid to a late intraday low $3,350.06.

Ethereum fell through the first major support level at $3,476 and the second major support level at $3,383.

The extended sell-off also saw Ethereum fall through the 23.6% FIB of $3,369 before a move back through to $3,400 levels.

At the time of writing, Ethereum was down by 0.42% to $3,375.78. A mixed start to the day saw Ethereum rise to an early morning high $3,403.64 before falling to a low $3,371.00.

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

ETHUSD 180921 Hourly Chart

For the day ahead

Ethereum would need to move through the $3,448 pivot to bring the first major resistance level at $3,547 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 Friday’s high $3,595.00 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,693.

Failure to move through the $3,448 pivot would bring the 23.6% FIB of $3,369 and the first major support level at $3,302 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,200 levels. The second major support level at $3,203 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,302

Pivot Level: $3,448

First Major Resistance Level: $3,547

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 2.88% on Friday. Following a 2.08% decline on Thursday, Litecoin ended the day at $180.00.

A mixed start to the day saw Litecoin rise to a late morning intraday high $190.53 before hitting reverse.

Falling short of the first major resistance level at $193, Litecoin slid to a late intraday low $177.66.

The reversal saw Litecoin fall through the first major support level at $179.

Finding support at the 23.6% FIB of $178, however, Litecoin broke back through the first major support level to end the day at $180 levels.

At the time of writing, Litecoin was down by 0.04% to $179.93. A mixed start to the day saw Litecoin rise to an early morning high $180.12 before falling to a low $178.57.

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

LTCUSD 180921 Hourly Chart

For the day ahead

Litecoin would need to move through the $183 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 Friday’s high $190.53 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $200. The second major resistance level sits at $196.

Failure to move through the $183 pivot would bring the 23.6% FIB and the first major support level at $175 into play.

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

Looking at the Technical Indicators

First Major Support Level: $175

Pivot Level: $183

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 fell by 2.35% on Friday. Following a 2.71% loss on Thursday, Ripple’s XRP ended the day at $1.06436.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.10294 before hitting reverse.

Falling short of the first major resistance level at $1.1258, Ripple’s XRP slid to a mid-day intraday low $1.05210.

Ripple’s XRP fell through the 38.2% FIB of $1.0659 and the first major support level at $1.0612.

Finding support early afternoon support, Ripple’s XRP revisited $1.07 levels before a 2nd sell-off.

Ripple’s XRP fell back through the 38.2% FIB of $1.0659 and the first major support level at $1.0612 before a partial recovery to $1.064 levels.

At the time of writing, Ripple’s XRP was up by 0.26% to $1.06717. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.05923 before rising to a high $1.06717.

While leaving the major support and resistance levels untested, Ripple’s XRP broke back through the 38.2% FIB of $1.0659.

XRPUSD 180921 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $1.0731 pivot to bring first major resistance level at $1.0942 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.09 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $1.10294 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.15 levels before any pullback. The second major resistance level sits at $1.1240.

Failure to move through the $1.0731 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0433 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 $1.0223 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.

Pivot Level: $1.

First Major resistance Level: $1.

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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