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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 29th, 2021

By:
Bob Mason
Updated: Jun 29, 2021, 00:49 UTC

After a mixed start to the week, the majors will need to avoid the day's pivot levels to bring resistance levels into play.

E-coins on tablet computer with charts on screen

Ethereum

Ethereum rose by 4.99% on Monday. Following an 8.51% rally on Sunday, Ethereum ended the day at $2,083.79.

A mixed start to the day saw Ethereum fall to an early morning intraday low $1,957.24 before making a move.

Steering clear of the first major support level at $1,866, Ethereum rallied to a late intraday high $2,143.67.

Ethereum broke through the first major resistance level at $2,046 and the second major resistance level at $2,108 before easing back.

A late pullback saw Ethereum fall back through the second major resistance level to end the day at sub-$2,100 levels.

At the time of writing, Ethereum was up by 0.48% to $2,093.75. A mixed start to the day saw Ethereum fall to an early morning low $2,074.53 before rising to a high $2,103.00.

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

ETHUSD 290621 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,062 pivot to bring the first major resistance level at $2,166 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $2,143.67.

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 $2,300. The second major resistance level sits at $2,248.

A fall through the $2,062 pivot would bring the first major support level at $1,980 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,900 levels. The second major support level sits at $1,875.

Looking at the Technical Indicators

First Major Support Level: $1,980

Pivot Level: $2,062

First Major Resistance Level: $2,166

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.81% on Monday. Following a 4.66% gain on Sunday, Litecoin ended the day at $137.69.

After a mixed morning, Litecoin fell to an early afternoon intraday low $129.92 before making a move.

Steering clear of the first major support level at $127, Litecoin rallied to a late intraday high $139.60.

Litecoin broke through the first major resistance level at $135 and the second major resistance level at $138.

Falling short of $140 levels, however, Litecoin fell back through the second major resistance level to end the day at $137 levels.

At the time of writing, Litecoin was up by 1.22% to $139.37. A bullish start to the day saw Litecoin rise from an early morning low $137.56 to a high $139.69.

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

LTCUSD 290621 Hourly Chart

For the day ahead

Litecoin would need to avoid the $136 pivot to bring the first major resistance level at $142 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $140 levels.

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 $145.

A fall through the $136 pivot would bring the first major support level at $132 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$120 levels. The second major support level at $126 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $132

Pivot Level: $136

First Major Resistance Level: $142

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 0.75% on Monday. Partially reversing a 5.04% gain from Sunday, Ripple’s XRP ended the day at $0.64359.

A mixed start to the day saw Ripple’s XRP fall to a mid-day intraday low $0.62491 before making a move.

Steering clear of the first major support level at $0.6127, Ripple’s XRP rose to a late afternoon intraday high $0.65680.

Falling short of the first major resistance level at $0.6678, Ripple’s XRP fell back to sub-$0.64 levels before finding support.

A late move back through to $0.64 levels limited the damage on the day.

At the time of writing, Ripple’s XRP was up by 0.59% to $0.64736. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.64237 before rising to a high $0.64736.

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

XRPUSD 290621 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $0.6418 pivot to bring the first major resistance level at $0.6586 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.65 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.65680 would likely cap any upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.70. The second major resistance level sits at $0.6737.

A fall through the $0.6418 pivot would bring the first major support level at $0.6267 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.6099.

Looking at the Technical Indicators

First Major Support Level: $0.6267

Pivot Level: $0.6418

First Major resistance Level: $0.6586

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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