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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 21st, 2021

By:
Bob Mason
Updated: Jul 21, 2021, 00:56 UTC

After a particularly bearish start to the week, more losses could be on the cards should the majors fail to breakout from the day's pivot levels.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum fell by 1.76% on Tuesday. Following a 3.86% loss on Monday, Ethereum ended the day at $1,786.46.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,840.79 before hitting reverse.

Falling short of the first major resistance level at $1,890, Ethereum slid to an early morning intraday low $1,720.16.

Ethereum fell through the first major support level at $1,776 and the second major support level at $1,734.

Finding support at the 62% FIB of $1,725, Ethereum briefly revisited $1,820 levels before falling back into the red.

At the time of writing, Ethereum was up by 0.30% to $1,791.83. A mixed start to the day saw Ethereum rise to an early morning high $1,794.80 before falling to a low $1,780.27.

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

ETHUSD 210721 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall back through the $1,783 pivot to bring the first major resistance level at $1,845 into play.

Support from the broader market would be needed, however, for Ethereum to move back through to $1,800 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1,840.79 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could resistance at $1,900 before any pullback. The second major resistance level sits at $1,903.

A fall back through the $1,783 pivot would bring the 62% FIB of $1,725 and the first major support level at $1,724 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,662.

Looking at the Technical Indicators

First Major Support Level: $1,724

Pivot Level: $1,783

First Major Resistance Level: $1,845

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 5.21% on Tuesday. Following a 5.06% decline on Monday, Litecoin ended the day at 107.30.

A mixed start to the day saw Litecoin rise to an early morning intraday high $115.06 before hitting reverse.

Falling short of the first major resistance level at $119, Litecoin slid to a late morning intraday low $104.02.

Litecoin fell through the first major support level at $110 and the second major support level at $106.

Steering clear of sub-$100 levels, Litecoin revisited $109 levels before falling back into the deep red.

The first major support level at $110 pegged Litecoin back late in the day.

At the time of writing, Litecoin was up by 0.01% to $107.31. A mixed start to the day saw Litecoin rise to an early morning high $107.70 before falling to a low $106.72.

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

LTCUSD 210721 Hourly Chart

For the day ahead

Litecoin would need to move through the $109 pivot to bring the first major resistance level at $114 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $110 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $115.06 would likely cap any upside.

In the event of an extended breakout, Litecoin could test the second major resistance level at $120.

Failure to move through the $109 pivot would bring the first major support level at $103 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$95 levels. The second major support level at $98 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $103

Pivot Level: $109

First Major Resistance Level: $114

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slid by 5.22% on Tuesday. Following a 4.86% loss on Monday, Ripple’s XRP ended the day at $0.52841.

A choppy start to the day saw Ripple’s XRP rise to an early morning intraday high $0.56994 before hitting reverse.

Falling short of the first major resistance level at $0.5794, Ripple’s XRP slid to a late morning intraday low $0.51651.

Ripple’s XRP fell through the first major support level at $0.5444 and the second major support level at $0.5316.

Steering clear of sub-$0.50 levels, Ripple’s XRP briefly moved back through the second major support level before easing back.

At the time of writing, Ripple’s XRP was up by 0.12% to $0.52902. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.52489 before rising to a high $0.52957.

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

XRPUSD 210721 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.5383 pivot to bring the first major resistance level at $0.5601 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.55 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.56994 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.60 before any pullback. The second major resistance level sits at $0.5917.

Failure to move through the $0.5383 pivot would bring the first major support level at $0.5066 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.50 levels. The second major support level sits at $0.4849.

Looking at the Technical Indicators

First Major Support Level: $0.5066

Pivot Level: $0.5383

First Major resistance Level: $0.5601

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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