Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 25th, 2021

Ethereum

Ethereum surged by 26.25% on Monday. Reversing an 8.58% slide from the previous day, Ethereum ended the day at $2,651.24.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,072.15 before making a move.

Steering clear of the first major support level at $1,756, Ethereum rallied to a late intraday high $2,678.25.

Ethereum broke through the first major resistance level at $2,412 to wrap up the day at $2,650 levels.

At the time of writing, Ethereum was up by 2.67% to $2,722.12. A mixed start to the day saw Ethereum fall to an early morning low $2,627.41 before rising to a high $2,749.98.

While leaving the major support and resistance levels untested early on, Ethereum tested resistance at the 38.2% FIB of $2,740.

For the day ahead

Ethereum would need to avoid the $2,467 pivot to bring the first major resistance level at $2,862 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the 38.2% FIB of $2,740.

Barring an extended crypto rally, the first major resistance level and resistance at $3,000 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 $3,073.

Failure to avoid the $2,467 pivot would bring the first major support level at $2,256 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,861.

A sustained fall through the 62% FIB of $1,725 would form a near-term bearish trend from 12th May’s swing hi $4,384.30.

Looking at the Technical Indicators

First Major Support Level: $2,256

Pivot Level: $2,467

First Major Resistance Level: $2,862

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin jumped by 29.89% on Monday. Reversing a 15.78% slide from Sunday, Litecoin ended the day at $185.39.

A mixed start to the day saw Litecoin fall to an early morning intraday low $139.86 before making a move.

Story continues

Steering clear of the first major support level at $115, Litecoin rallied to a late intraday high $185.39.

Litecoin broke through the first major resistance level at $174 and the 62% FIB of $174 to end the day at $185 levels.

At the time of writing, Litecoin was up by 3.29% to $191.49. A mixed start to the day saw Litecoin fall to an early morning low $183.19 before rising to a high $192.20.

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

For the day ahead

Litecoin would need to avoid a fall through the 62% FIB of $174 and the $170 pivot to bring the first major resistance level at $201 into play.

Support from the broader market would be needed, however, for Litecoin to break through to $200 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 $220. The second major resistance level sits at $216.

Failure to avoid a fall through the 62% FIB and the $170 pivot would bring the first major support level at $155 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $125.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $155

Pivot Level: $170

First Major Resistance Level: $201

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rallied by 25.42% on Monday. Reversing a 12.48% slide from Sunday, Ripple’s XRP ended the day at $0.99474.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.75600 before making a move.

Steering clear of the first major support level at $0.6401, Ripple’s XRP rallied to a late intraday high $0.99853.

Ripple’s XRP broke through the 62% FIB of $0.8573 and the first major resistance level at $0.9568 to end the day at $0.99 levels.

Resistance at $1.00 pegged Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 3.15% to $1.02605. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.98006 before rising to a high $1.05000.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.9164 pivot to bring the first major resistance level at $1.0768 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $1.05000.

Barring an extended crypto rally, the first major resistance level and resistance at $1.10 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20. The second major resistance level sits at $1.1590.

Failure to avoid a fall through the $0.9164 pivot would bring the 62% FIB of $0.8573 and the first major support level at $0.8343 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.6739.

A sustained fall through the 62% FIB would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.8343

Pivot Level: $0.9164

First Major resistance Level: $1.0768

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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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