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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 25th, 2020

By:
Bob Mason
Updated: Sep 25, 2020, 02:27 GMT+00:00

It's a mixed start to the day following Thursday's rebound. Avoiding the day's pivot levels will be key to supporting another day of gains...

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Ethereum

Ethereum jumped by 8.89% on Thursday. Reversing a 6.86% slide from Wednesday, Ethereum ended the day at $349.14.

A mixed start to the day saw Ethereum fall to an early morning intraday low $323.38 before making a move.

Steering clear of the first major support level at $307.54, Ethereum rallied to a late intraday high $353.14.

Ethereum broke through the first major resistance level at $339.18 to return to $350 levels for the 1st time since Monday. A bearish end to the day, however, left Ethereum at sub-$350.

At the time of writing, Ethereum was down by 0.48% to $347.47. A mixed start to the day saw Ethereum rise to an early morning high $350.50 before falling to a low $346.64.

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

ETH/USD 25/09/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $341.89 pivot to support a run at the first major resistance level at $360.39.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $353.14.

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

Failure to avoid a fall through the $341.89 pivot would bring the first major support level at $330.63 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The second major support level at $312.13 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $330.63

Pivot Level: $341.89

First Major Resistance Level: $360.39

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rallied by 4.66% on Thursday. Reversing a 3.53% slide from Wednesday, Litecoin ended the day at $44.95.

It was a mixed start to the day. Litecoin fell to an early morning intraday low $42.59 before making a move.

Steering clear of the first major support level at $41.73, Litecoin rallied to a late afternoon intraday high $45.23.

The rally saw Litecoin break through the first major resistance level at $44.61.

In spite of a bearish end to the day, Litecoin avoided a fall back through the first major resistance level.

At the time of writing, Litecoin was down by 0.80% to $44.59. A bearish start to the day saw Litecoin fall from an early morning high $44.99 to a low $44.61.

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

LTC/USD 25/09/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall back through the $44.26 pivot to support a run at the first major resistance level at $45.92.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $45.23.

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

Failure to avoid a fall back through the $44.26 pivot level would bring the first major support level at $43.28 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$42 levels. The second major support level sits at $41.62.

Looking at the Technical Indicators

First Major Support Level: $43.28

Pivot Level: $44.26

First Major Resistance Level: $45.92

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rallied by 5.23% on Thursday. Reversing a 5.02% slide from Wednesday, Ripple’s XRP ended the day at $0.23297.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.21925 before making a move.

Steering clear of the first major support level at $0.2162, Ripple’s XRP rallied to a late afternoon intraday high $0.2350.

Ripple’s XRP broke through the first major resistance level at $0.2307 to wrap up the day at $0.232 levels.

At the time of writing, Ripple’s XRP was down by 0.56% to $0.23167. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.2333 to a low $0.23156.

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

XRP/USD 25/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2291 pivot to support a run at the first major resistance level at $0.2389.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.2350.

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

Failure to avoid a fall through the $0.2291 pivot would bring the first major support level at $0.2231 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.22 levels and the second major support level at $0.2133.

Looking at the Technical Indicators

First Major Support Level: $0.2231

Pivot Level: $0.2291

First Major Resistance Level: $0.2389

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

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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