Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 18th, 2021

Ethereum

Ethereum fell by 4.31% on Tuesday. Following a 4.97% slide on Monday, Ethereum ended the day at $3,011.01.

A mixed start to the day saw Ethereum rise to a midday intraday high $3,293.15 before hitting reverse.

Falling short of the first major resistance level at $3,280, Ethereum slid to a late intraday low $2,992.15.

Ethereum fell through the first major support level at $3,074 and the second major support level at $3,001.

Finding late support, however, Ethereum broke back through the second major support level to end the day at $3,011 levels.

At the time of writing, Ethereum was up by 0.42% to $3,023.56. A mixed start to the day saw Ethereum rise to an early morning high $3,046.45 before falling to a low $3,003.69.

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

For the day ahead

Ethereum would need to move through $3,099 pivot to bring the first major resistance level at $3,205 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,200 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $3,293.15 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,400.

Failure to move through the $3,099 pivot would bring the first major support level at $2,904 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,800 levels. The second major support level sits at $2,798.

Looking at the Technical Indicators

First Major Support Level: $2,904

Pivot Level: $3,099

First Major Resistance Level: $3,205

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 5.28% on Tuesday. Following a 3.69% decline on Monday, Litecoin ended the day at $168.54.

After a choppy start, Litecoin rose to a late morning intraday high $184.45 before hitting reverse.

Falling short of the first major resistance level at $186, Litecoin slid to a late intraday low $168.0.

Litecoin fell through the first major support level at $174 and the second major support level at $170.

More significantly, Litecoin also fell through the 23.6% FIB of $178 before a late partial recovery.

Late in the day, Litecoin briefly revisited $171 levels before ending the day at sub-$169 levels.

At the time of writing, Litecoin was up by 0.27% to $168.99. A mixed start to the day saw Litecoin rise to an early morning high $170.26 before falling to a low $167.23.

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

For the day ahead

Litecoin would need to move through the $174 pivot to bring 23.6% FIB of $178 and the first major resistance level at $179 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $175 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $184.45 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level at sits $190.

Failure to move through the $174 pivot would bring the first major support level at $163 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $157.

Looking at the Technical Indicators

First Major Support Level: $163

Pivot Level: $174

First Major Resistance Level: $179

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 7.41% on Tuesday. Following a 7.84% tumble on Monday, Ripple’s XRP ended the day at $1.09755.

Tracking the broader market, Ripple’s XRP rose to a late morning intraday high $1.22969 before hitting reverse.

Falling short of the first major resistance level at $1.2953, Ripple’s XRP slid to a late intraday low $1.09535.

Ripple’s XRP fell through the first major support level at $1.1086 to end the day at sub-$1.10 levels.

At the time of writing, Ripple’s XRP was up by 1.50% to $1.11400. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.11698 before falling to a low $1.09432.

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 $1.1409 pivot to bring first major resistance level at $1.1864 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.15 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1.22965 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $1.30 before any pullback. The second major resistance level sits at $1.2752.

Failure to move through the $1.1409 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0521 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level at $1.0066 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0521

Pivot Level: $1.1409

First Major resistance Level: $1.1864

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