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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 14th, 2021

By:
Bob Mason
Updated: Jun 14, 2021, 00:45 UTC

It's been a mixed start to the day. Steering clear of the day's pivot levels, however, would bring resistance levels into play.

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Ethereum

Ethereum rallied by 5.83% on Sunday. Following a 0.70% gain from Saturday, Ethereum ended the week down by 7.40% to $2,510.23.

A bearish start to the day saw Ethereum fall to an early morning intraday low $2,309.67 before making a move.

Steering clear of the first major support level at $2,270, Ethereum rallied to a late intraday high $2,550.00.

Ethereum broke through the first major resistance level at $2,463. Coming up against the second major resistance level at $2,554, however, Ethereum eased back to sub-$2,520 levels.

At the time of writing, Ethereum was down by 0.47% to $2,498.40. A mixed start to the day saw Ethereum rise to an early morning high $2,524.99 before falling to a low $2,496.05.

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

ETHUSD 140621 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,457 pivot to bring the first major resistance level at $2,604 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,550.00.

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

In the event of another broad-based crypto rally, Ethereum could test resistance at the 38.2% FIB of $2,740 before any pullback. The second major resistance level sits at $2,697.

A fall through the $2,457 pivot would bring the first major support level at $2,363 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,300 levels. The second major support level sits at $2,216.

Looking at the Technical Indicators

First Major Support Level: $2,363

Pivot Level: $2,457

First Major Resistance Level: $2,604

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 5.66% on Sunday. Reversing a 0.63% loss from Saturday, Litecoin ended the week down by 3.04% to $171.02.

A bearish start to the day saw Litecoin fall to an early morning intraday low $156.54 before making a move.

Finding support at the first major support level at $156, Litecoin rallied to a late intraday high $171.73.

Litecoin broke through the first major resistance level at $166 and the second major resistance level at $170.

A late pullback saw Litecoin briefly fall back through the second major resistance level before ending the day at $171 levels.

At the time of writing, Litecoin was down by 0.29% to $170.53. A mixed start to the day saw Litecoin rise to an early morning high $172.66 before falling to a low $170.22.

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

LTCUSD 140621 Hourly Chart

For the day ahead

Litecoin would need to avoid the $166 pivot to bring the 62% FIB of $174 and the first major resistance level at $176 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 62% FIB.

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

In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $182.

A fall through the $166 pivot would bring the first major support level at $161 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $151.

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: $161

Pivot Level: $166

First Major Resistance Level: $176

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rallied by 6.20% on Sunday. Reversing a 1.81% decline from Saturday, Ripple’s XRP ended the week down by 6.67% to $0.88289.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.81861 before making a move.

Steering clear of the first major support level at $0.8100, Ripple’s XRP rallied to a late intraday high $0.88876.

Ripple’s XRP broke through the first major resistance level at $0.8498 and the second major resistance level at $0.8681. More significantly, Ripple’s XRP also broke back through the 62% FIB of $0.8573.

Late in the day, Ripple’s XRP briefly fell back to $0.87 levels before ending the day at $0.88 levels.

At the time of writing, Ripple’s XRP was down by 0.01% to $0.88278. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.89280 before falling to a low $0.88210.

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

XRPUSD 140621 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.8634 pivot to bring the first major resistance level at $0.9082 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.88876.

Barring an extended crypto rally, the first major resistance level and resistance at $0.91 would likely cap any upside.

In the event of another extended rally, Ripple’s XRP could test resistance at $1.00. The second major resistance level sits at $0.9336.

A fall through the $0.8634 pivot would bring the 62% FIB of $0.8573 and the first major support level at $0.8381 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.7933.

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: $0.8381

Pivot Level: $0.8634

First Major resistance Level: $0.9082

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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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