Yahoo Finance Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 18th, 2021
Ethereum
Ethereum rose by 0.21% on Thursday. Following a 6.91% slide on Wednesday, Ethereum ended the day at $2,373.33.
A bullish start to the day saw Ethereum rise to a mid-morning intraday high $2,459.53 before hitting reverse.
Falling short of the first major resistance level at $2,498, Ethereum slid to a late afternoon intraday low $2,306.35.
Steering clear of the first major support level at $2,294, however, Ethereum move back through to $2,370 levels, reversing losses from the day.
At the time of writing, Ethereum was down by 0.38% to $2,364.24. A bearish start to the day saw Ethereum fall from an early morning high $2,373.69 to a low $2,364.00.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $2,380 pivot to bring the first major resistance level at $2,453 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,450 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $2,459.53 would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $2,600 before any pullback. The second major resistance level sits at $2,533.
Failure to move through the $2,380 pivot would bring the first major support level at $2,300 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level at $2,227 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,300
Pivot Level: $2,380
First Major Resistance Level: $2,453
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 0.36% on Thursday. Following a 4.90% decline on Wednesday, Litecoin ended the day at $167.18.
Tracking the broader market, Litecoin rose to a late morning intraday high $173.40 before hitting reverse.
Falling short of the 62% FIB of $174 and the first major resistance level at $176, Litecoin slid to a late intraday low $162.88.
Steering clear of the first major support level at $161.55, Litecoin moved back through to $167 levels and back into positive territory.
At the time of writing, Litecoin was down by 0.35% to $166.60. A bearish start to the day saw Litecoin fall from an early morning high $167.24 to a low $166.44.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $168 pivot to bring the first major resistance level at $173 and the 62% FIB of $174 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $170 levels.
Barring an extended crypto rally, the 62% FIB would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $180. The second major resistance level sits at $178.
Failure to move through the $168 pivot would bring the first major support level at $162 into play.
Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $157.
A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $162
Pivot Level: $168
First Major Resistance Level: $173
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP rose by 0.89% on Thursday. Partially reversing a 3.95% fall from Wednesday, Ripple’s XRP ended the day at $0.84073.
A bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $0.86104 before hitting reverse.
Ripple’s XRP broke through the 62% FIB of $0.8573 and the first major resistance level at $0.8608.
The reversal, however, saw Ripple’s XRP slide back through the major support level and 62% FIB to a late intraday low $0.82341.
Steering clear of the first major support level at $0.8148, however, Ripple’s XRP ended the day at $0.84 levels.
At the time of writing, Ripple’s XRP was down by 0.12% to $0.83974. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.84006 to a low $0.83974.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through the $0.8417 pivot to bring the 62% FIB of $0.8573 and the first major resistance level at $0.8600 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.85 levels.
Barring an extended crypto rally, the 62% FIB and the first major resistance level would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at $0.90. The second major resistance level sits at $0.8794.
Failure to move through the $0.8417 pivot would bring the first major support level at $0.8224 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level at $0.8041 should limit the downside.
A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.
Looking at the Technical Indicators
First Major Support Level: $0.8224
Pivot Level: $0.8417
First Major resistance Level: $0.8600
23.6% FIB Retracement Level: $1.5426
38.2% FIB Retracement Level: $1.2807
62% FIB Retracement Level: $0.8573
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Thanks, Bob
This article was originally posted on FX Empire
