Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 8th, 2021

Ethereum

Ethereum slid by 12.52% on Tuesday. Following a modest 0.58% gain on Monday, Ethereum ended the day at $3,436.96.

A mixed start to the day saw Ethereum rise to an early morning intraday high $3,948.00 before hitting reverse.

Falling short of the first major resistance level at $3,979, Ethereum tumbled to a mid-afternoon intraday low $3,009.00.

Ethereum fell through the day’s major support levels and the 23.6% FIB of $3,368.

Finding late support, however, Ethereum briefly broke back through the 23.6% FIB to end the day at sub-$3,430 levels.

At the time of writing, Ethereum was down by 1.12% to $3,398.46. A mixed start to the day saw Ethereum rise to an early morning high $3,452.31 before falling to a low $3,379.46.

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

For the day ahead

Ethereum would need to move through the $3,466 pivot to bring the first major resistance level at $3,920 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $3,600 levels.

Barring an extended crypto rally, resistance at $3,600 would likely leave Ethereum short of the first major resistance level.

In the event of a broad-based crypto rebound, Ethereum could test resistance at $4,000 before any pullback. The second major resistance level sits at $4,404.

Failure to move through the $3,465 pivot would bring the first major support level at $2,981 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level sits at $2,526.

Looking at the Technical Indicators

First Major Support Level: $2,981

Pivot Level: $3,465

First Major Resistance Level: $3,920

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin tumbled by 18.73% on Tuesday. Following a 5.52% fall on Monday, Litecoin ended the day at $178.36.

A mixed start to the day saw Litecoin rise to an early morning intraday high $222.04 before hitting reverse.

Falling short of the 38.2% FIB of $223 and the first major resistance level at $230, Litecoin tumbled to a mid-afternoon intraday low $161.00.

Litecoin fell through the day’s major support levels and the 23.6% FIB of $178 before ending the day at $178 levels.

At the time of writing, Litecoin was down by 0.67% to $177.17. A mixed start to the day saw Litecoin rise to an early morning high $178.98 before falling to a low $174.80.

While leaving the major support and resistance levels untested early on, Litecoin fell through the 23.6% FIB of $178.

For the day ahead

Litecoin would need to move through 23.6% FIB and the $187 pivot to bring the first major resistance level at $213 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, resistance at $200 would likely leave Litecoin short of the first major resistance level.

In the event of broad-based crypto rebound, Litecoin could test the 38.2% FIB of $223. The second major resistance level sits at $248.

Failure to move through 23.6% FIB of $178 and the $187 pivot would bring the first major support level at $152 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $126.

Looking at the Technical Indicators

First Major Support Level: $152

Pivot Level: $187

First Major Resistance Level: $213

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP tumbled by 19.26% on Tuesday. Reversing a 6.18% gain from Monday, Ripple’s XRP ended the day at $1.12345.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.39243 before hitting reverse.

Falling short of the 62% FIB of $1.4096 and the first major resistance level at $1.4356, Ripple’s XRP slumped to a mid-afternoon intraday low $0.91000.

The sell-off saw Ripple’s XRP fall through the day’s major support levels.

Ripple’s XRP also fell through the 38.2% FIB of $1.0659 before ending the day at $1.12 levels.

At the time of writing, Ripple’s XRP was down by 0.50% to $1.11784. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.13203 before falling to a low $1.10093.

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

For the day ahead

Ripple’s XRP would need to move through the $1.1420 pivot to bring first major resistance level at $1.3739 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.20 levels

Barring an extended crypto rally, resistance at $1.20 would likely leave Ripple’s XRP short of the first major resistance level.

In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at the 62% FIB of $1.4069 before any pullback. The second major resistance level sits at $1.6244.

Failure to move through the $1.1420 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $0.8915 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.90 levels. The second major support level sits at $0.6595.

Looking at the Technical Indicators

First Major Support Level: $0.8915

Pivot Level: $1.1420

First Major resistance Level: $1.3739

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