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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 26th, 2021

By:
Bob Mason
Updated: Aug 26, 2021, 01:04 UTC

Following a bullish mid-week session, the majors will need to avoid the day's pivots and revisit Wednesday's highs to avoid a return to the red.

Crypto00 567

Ethereum

Ethereum rose by 1.82% on Wednesday. Partially reversing a 4.55% loss from Tuesday, Ethereum ended the day at $3,228.51.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $3,079.92 before making a move.

Ethereum fell through the first major support level at $3,083 before rallying to a late afternoon intraday high $3,249.00.

Falling short of the first major resistance level at $3,310, however, Ethereum slipped back to sub-$3,200 levels before ending the day at $3,220 levels.

At the time of writing, Ethereum was up by 0.03% to $3,229.63. A mixed start to the day saw Ethereum rise to an early morning high $3,237.47 before falling to a low $3,210.10.

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

ETHUSD 260821 Hourly Chart

For the day ahead

Ethereum would need to avoid the $3,186 pivot to bring the first major resistance level at $3,292 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $3,250 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $3,300 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,355.

A fall through the $3,186 pivot would bring the first major support level at $3,123 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,000 levels. The second major support level at $3,017 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,123

Pivot Level: $3,186

First Major Resistance Level: $3,292

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.58% on Wednesday. Partially reversing a 7.18% slide from Tuesday, Litecoin ended the day at $177.87.

A mixed start to the day saw Litecoin fall to a late morning intraday low $169.21 before making a move.

Steering clear of the first major support level at $168, Litecoin rallied to a late afternoon intraday high $178.95.

While falling short of the first major resistance level at $184, Litecoin broke back through the 23.6% FIB of $178.

A late pullback, however, saw Litecoin fall back through the 23.6% FIB to end the day at $177 levels.

At the time of writing, Litecoin was up by 0.37% to $178.52. A mixed start to the day saw Litecoin fall to an early morning low $176.85 before rising to a high $178.69.

While leaving the major support and resistance levels untested early on, Litecoin broke back through the 23.6% FIB of $178.

LTCUSD 260821 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the 23.6% FIB and the $175 pivot to bring the first major resistance level at $182 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $178.

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 before any pullback. The second major resistance level at sits $185.

A fall through the 23.6% FIB and the $175 pivot would bring the first major support level at $172 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $166.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $175

First Major Resistance Level: $182

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 3.37% on Wednesday. Partially reversing an 8.63% tumble from Tuesday, Ripple’s XRP ended the day at $1.17400.

A mixed start to the day saw Ripple’s XRP fall to a late morning intraday low $1.10831 before making a move.

Steering clear of the first major support level at $1.0840, Ripple’s XRP rallied to a late afternoon intraday high $1.17773.

Falling short of the first major resistance level at $1.2274, Ripple’s XRP slipped back to end the day at sub-$1.18 levels.

At the time of writing, Ripple’s XRP was up by 0.68% to $0.18200. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.16849 before rising to a high $1.18513.

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

XRPUSD 260821 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $1.1533 pivot to bring first major resistance level at $1.1984 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $1.18513.

Barring an extended crypto rally, the first major resistance level and resistance at $1.20 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $1.25 before any pullback. The second major resistance level sits at $1.2228.

A fall through the $1.1533 pivot would bring the first major support level at $1.1290 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 38.2% FIB of $1.0659. The second major support level at $1.0839 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.1290

Pivot Level: $1.1533

First Major resistance Level: $1.1984

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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