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

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.

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.

Story continues

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.

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.

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

This article was originally posted on FX Empire

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