Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 1st, 2021

Ethereum

Ethereum rallied by 6.23% on Tuesday. Following a 0.08% gain on Monday, Ethereum ended the month up by 35.38% to $3,430.23.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,190.56 before making a move.

Steering clear of the first major support level at $3,133, Ethereum rallied to an early afternoon intraday high $3,486.8.

Ethereum broke through the first major resistance level at $3,337 and the second major resistance level at $3,445.

The breakout also saw Ethereum break through the 23.6% FIB of $3,369.

A late pullback did see Ethereum fall back through the second major resistance level, however, to end the day at sub-$3,440.

At the time of writing, Ethereum was up by 0.35% to $3,442.31. A mixed start to the day saw Ethereum fall to an early morning low $3,403.09 before rising to a high $3,448.00.

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

For the day ahead

Ethereum would need to avoid the 23.6% FIB of $3,369 and the $3,369 pivot to bring the first major resistance level at $3,548 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 any upside.

In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $3,665.

A fall through the 23.6% FIB and the $3,369 pivot would bring the first major support level at $3,252 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,100 levels. The second major support level sits at $3,073.

Looking at the Technical Indicators

First Major Support Level: $3,252

Pivot Level: $3,369

First Major Resistance Level: $3,548

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.50% on Tuesday. Partially reversing a 4.09% slide from Monday, Litecoin ended the month up by 18.79% to $171.57.

A bearish start to the day saw Litecoin fall to an early morning intraday low $165.67 before making a move.

Steering clear of the first major support level at $164, Litecoin rallied to an early afternoon intraday high $175.40.

Litecoin broke through the first major resistance level at $174 before briefly falling back to sub-$170 levels.

At the time of writing, Litecoin was up by 0.32% to $172.12. A mixed start to the day saw Litecoin fall to an early morning low $170.14 before rising to a high $172.73.

Litecoin left the major support and resistance levels untested early on

For the day ahead

Litecoin would need to avoid the $171 pivot to bring the first major resistance level at $176 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $175 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $175.40 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $185 before any pullback. The second major resistance level at sits $181. Litecoin would need plenty of support, however, to break out from the 23.6% FIB of $178.

A fall through the $171 pivot would bring the first major support level at $166 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level at $161 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $171

First Major Resistance Level: $176

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 7.82% on Tuesday. Reversing a 3.53% loss from Monday, Ripple’s XRP ended the month up by 58.96% to $1.18651.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.09181 before making a move.

Steering clear of the first major support level at $1.0819, Ripple’s XRP rallied to a late afternoon intraday high $1.24279.

Ripple’s XRP broke through the day’s major resistance levels before a slide back to sub-$1.16 levels.

The pullback saw Ripple’s XRP fall back through the third major resistance level at $1.2202 and the second major resistance level at $1.1678.

Finding late support, however, Ripple’s XRP broke back through the second major resistance level to end the day at $1.18 levels.

At the time of writing, Ripple’s XRP was up by 0.04% to $1.18698. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.17175 before rising to a high $1.19398.

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

For the day ahead

Ripple’s XRP will need to avoid the $1.1737 pivot to bring first major resistance level at $1.2556 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.25 levels.

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 the second major resistance level at $1.3247.

A fall through the $1.1737 pivot would bring the first major support level at $1.1046 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 38.2% FIB of $1.0659. The second major support level sits at $1.0227.

Looking at the Technical Indicators

First Major Support Level: $1.1046

Pivot Level: $1.1737

First Major resistance Level: $1.2556

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