Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 29th, 2021

Ethereum

Ethereum fell by 4.12% on Tuesday. Following a 4.40% slide on Monday, Ethereum ended the day at $2,805.65.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,971.16 before hitting reverse.

Falling short of the first major resistance level at $3,087, Ethereum slid to a final hour intraday low $2,782.60.

Ethereum fell through the first major support level at $2,844 to end the day at $2,805 levels.

At the time of writing, Ethereum was down by 0.22% to $2,799.58. A mixed start to the day saw Ethereum rise to an early morning high $2,828.00 before falling to a low $2,785.06.

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

For the day ahead

Ethereum would need to move through the $2,853 pivot to bring the first major resistance level at $2,924 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,900 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2,971.16 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,100 before any pullback. The second major resistance level sits at $3,042.

Failure to move through the $2,853 pivot would bring the 38.2% FIB of $2,740 and the first major support level at $2,735 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,700 levels. The second major support level sits at $2,665.

Looking at the Technical Indicators

First Major Support Level: $2,735

Pivot Level: $2,853

First Major Resistance Level: $2,924

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 3.12% on Tuesday. Following a 3.66% decline on Monday, Litecoin ended the day at $140.54.

After a choppy morning, Litecoin rose to an early afternoon intraday high $148.93 before hitting reverse.

Falling short of the first major resistance level at $152, Litecoin fell to a final hour intraday low $140.00.

Story continues

Litecoin fell through the first major support level at $142 to end the day at $140 levels.

At the time of writing, Litecoin was up by 0.12% to $140.71. A mixed start to the day saw Litecoin rise to an early morning high $141.36 before falling to a low $139.77.

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

For the day ahead

Litecoin would need to move through the $143 pivot to bring the first major resistance level at $146 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $145 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $148.93 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $155 before any pullback. The second major resistance level sits at $152.

Failure to move through the $143 pivot would bring the first major support level at $137 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $134.

Looking at the Technical Indicators

First Major Support Level: $137

Pivot Level: $143

First Major Resistance Level: $146

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 3.07% on Tuesday. Following a 2.24% loss on Monday, Ripple’s XRP ended the day at $0.89360.

After a mixed start, Ripple’s XRP rose to a late morning intraday high $0.94242 before hitting reverse.

Falling short of the first major resistance level at $0.9626, Ripple’s XRP slid to a final hour intraday low $0.89115.

Ripple’s XRP fell through the first major support level at $0.9013 to end the day at sub-$0.90 levels.

At the time of writing, Ripple’s XRP was down by 0.66% to $0.88772. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.89895 before falling to a low $0.88657.

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

For the day ahead

Ripple’s XRP would need to move through the $0.9091 pivot to bring the first major resistance level at $0.9270 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $0.92 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.94242 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $0.9603.

Failure to move through $0.9091 pivot would bring the first major support level at $0.8757 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.8578 and the 23.6% FIB of $0.8533.

Looking at the Technical Indicators

First Major Support Level: $0.8757

Pivot Level: $0.9091

First Major resistance Level: $0.9270

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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