Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 10th, 2021

Ethereum

Ethereum fell by 2.13% on Thursday. Reversing a 1.85% gain from Wednesday, Ethereum ended the day at $3,424.32.

A mixed start to the day saw Ethereum rise to a late morning intraday high $3,568.59 before hitting reverse.

Falling short of the first major resistance level at $3,636.88, Ethereum fell to a mid-day intraday low $3,393.17.

Steering clear of the 23.6% FIB of $3,369 and the first major support level at $3,290, Ethereum revisited $3,550 levels before easing back.

At the time of writing, Ethereum was down by 0.20% to $3,418.18. A mixed start to the day saw Ethereum fall to an early low $3,416.69 before rising to a high $3,442.00.

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

For the day ahead

Ethereum would need to move through the $3,462 pivot to bring the first major resistance level at $3,531 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 Thursday’s high $3,568,59 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 $3,638.

Failure to move through the $3,462 pivot would bring the 23.6% FIB of $3,369 and the first major support level at $3,356 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level sits at $3,287.

Looking at the Technical Indicators

First Major Support Level: $3,356

Pivot Level: $3,462

First Major Resistance Level: $3,531

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.91% on Thursday. Following a 0.65% gain on Wednesday, Litecoin ended the day at $180.42.

A mixed start to the day saw Litecoin fall to an early morning intraday low $176.55 before making a move.

While steering clear of the first major support level at $170, Litecoin fell through the 23.6% FIB of $178 before rising to an early afternoon intraday high $188.85.

Coming up against the first major resistance level at $189, however, Litecoin eased back to end the day at sub-$181 levels.

At the time of writing, Litecoin was down by 0.29% to $179.90. A mixed start to the day saw Litecoin rise to an early morning high $181.40 before falling to a low $179.90.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move through the $182 pivot to bring the first major resistance level at $187 into play.

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

Barring an extended crypto rally, the first major resistance level and Thursday’s high $188.85 would likely cap the upside.

In the event of broad-based crypto rally, Litecoin could the second major resistance level at $200. The second major resistance level sits at $194.

Failure to move through the $182 pivot would bring the 23.6% FIB of $178 and the first major support level at $175 into play.

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

Looking at the Technical Indicators

First Major Support Level: $175

Pivot Level: $182

First Major Resistance Level: $187

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 1.15% on Thursday. Following a 2.62% decline on Wednesday, Ripple’s XRP ended the day at $1.08799.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $1.13805 before hitting reverse.

Falling short of the first major resistance level at $1.1606, Ripple’s XRP fell to a mid-day intraday low $1.07336.

Steering clear of the 38.2% FIB of $1.0659 and the first major support level at $1.0262, Ripple’s XRP revisited $1.12 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.05% to $1.08747. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.09327 before falling to a low $1.08701.

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

https://finance.yahoo.com/

For the day ahead

Ripple’s XRP would need to move through the $1.0998 pivot to bring first major resistance level at $1.1262 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.10 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.13805 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 $1.1645.

Failure to move through the $1.0998 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0616 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 $1.0351 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0616

Pivot Level: $1.0998

First Major resistance Level: $1.1262

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

This article was originally posted on FX Empire

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