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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 25th, 2021

By:
Bob Mason
Updated: Jun 25, 2021, 00:37 UTC

It's been a bullish start to the day for the majors. Avoiding the day's pivot levels would support further upside through the day ahead.

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Ethereum

Ethereum rose by 1.04% on Thursday. Following on from a 4.63% gain on Wednesday, Ethereum ended the day at $1,988.81.

A mixed start to the day saw Ethereum fall to an early morning intraday low $1,884.77 before making a move.

Steering clear of the first major support level at $1,847, Ethereum rallied to a late intraday high $2,035.39.

Falling short of the first major resistance level at $2,068, Ethereum eased back to end the day at sub-$2,000 levels.

At the time of writing, Ethereum was up by 0.26% to $1,994.06. A mixed start to the day saw Ethereum fall to an early morning low $1,987.45 before rising to a high $1,998.64.

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

ETHUSD 250621 Hourly Chart

For the day ahead

Ethereum would need to avoid the $1,970 pivot to bring the first major resistance level at $2,055 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $2,035.90.

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

In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,200. The second major resistance level sits at $2,121.

A fall through the $1,970 pivot would bring the first major support level at $1,904 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 62% FIB of $1,725. The second major support level at $1,819 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,904

Pivot Level: $1,970

First Major Resistance Level: $2,055

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 4.11% on Thursday. Following a 7.86% rally on Wednesday, Litecoin ended the day at $134.53.

Tracking the broader market, Litecoin fell to an early morning intraday low $123.77 before making a move.

Steering clear of the first major support level at $119, Litecoin rallied to a late intraday high $137.40.

Coming up against the first major resistance level at $137 Litecoin eased back to end the day at $134 levels.

At the time of writing, Litecoin was up by 1.00% to $135.87. A bullish start to the day saw Litecoin rise from an early morning low $134.54 to a high $135.96.

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

LTCUSD 250621 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $132 pivot to bring the first major resistance level at $140 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $137.40.

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 $150. The second major resistance level sits at $146.

A fall through the $132 pivot would bring the first major support level at $126 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level sits at $118.

Looking at the Technical Indicators

First Major Support Level: $126

Pivot Level: $132

First Major Resistance Level: $140

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 4.65% on Thursday. Following on from a 16.72% jump on Wednesday, Ripple’s XRP ended the day at $0.67012.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.61644 before making a move.

Steering clear of the first major support level at $0.5467, Ripple’s XRP rallied to a late intraday high $0.69195.

Coming within range of the first major resistance level at $0.6970, Ripple’s XRP eased back to end the day at sub-$0.68 levels.

At the time of writing, Ripple’s XRP was up by 0.92% to $0.67626. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.67217 before rising to a high $0.67626.

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

XRPUSD 250621 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.6595 pivot to bring the first major resistance level at $0.7026 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.70 levels.

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

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.80. The second major resistance level sits at $0.7350.

A fall through the $0.6595 pivot would bring the first major support level at $0.6271 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.60 levels. The second major support level sits at $0.5840.

Looking at the Technical Indicators

First Major Support Level: $0.6271

Pivot Level: $0.6595

First Major resistance Level: $0.7026

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

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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