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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 14th, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 14th, 2021
Written by publisher team

Ethereum

Ethereum is up 9.10% on Friday. Reversing the 3.64% drop from Thursday, Ethereum ended the day at $3,324.51.

A mixed start to the day saw Ethereum drop to an early morning intraday low $3,034.52 before making any move.

Moving away from the first major support level at $2,938, Ethereum surged to an intraday high of $3,330.00.

Ethereum broke the first major resistance level at $3,198 to end the day at $3,300 levels.

At the time of writing, Ethereum is down 0.26% to $3,315.85. A mixed start to the day saw Ethereum drop to an early low of $3,285.92 before rallying to $3,328.97.

Ethereum left key support and resistance levels untested early on.

for the next day

Ethereum will need to avoid the $3,230 pivot to achieve the 23.6% FIB level of $3,369 and the first major resistance level at $3,425.

Support from the broader market will be needed, however, to break Ethereum back to $3,400 levels.

Barring an extended crypto rally, the first major resistance level for any uptrend is likely to be capped.

In the event of a broad rally in the cryptocurrency, Ethereum could test the $3,600 resistance. The second major resistance level is located at $3,525.

A fall through the $3,230 pivot would trigger the first major support level at $3,129.

However, barring an extended sell-off, Ethereum should move away from the sub-$3,000 levels. The second major support level is located at $2,934.

Looking at technical indicators

First major support level: $3,129

Pivot level: $3,230

First major resistance level: $3,425

23.6% Fib Retracement Level: $3,369

38.2% Fib Retracement Level: $2,740

62% Fib Retracement Level: $1,725

Litecoin

Litecoin price increased by 10.81% on Friday. Litecoin reversed a 3.05% loss from Thursday, ending the day at $183.42.

A mixed start to the day saw Litecoin drop to an intraday early morning low of $163.95 before making any move.

Moving away from the first major support level at $158, Litecoin price surged to an intraday high of $184.70.

Litecoin broke out the first major resistance at $177 and the 23.6% Fib resistance at $178 to end the day at $183.

At the time of writing, Litecoin is up 0.30% in value to $183.97. A mixed start to the day saw Litecoin drop to an early morning low of $181.51 before climbing to $185.11.

Litecoin left key support and resistance levels untested early on.

for the next day

Litecoin will need to avoid the 23.6% FIB and the $177 pivot to start playing the first major resistance level at $191.

However, support from the broader market will be needed to exit Litecoin from the $185.11 high this morning.

Barring an extended crypto rally, the first major resistance level for any uptrend is likely to be capped.

In the event of an extended breakout, Litecoin could test the $200 resistance before any pullback. The second major resistance level is located at $198.

A drop through the 23.6% FIB of $178 and the $177 pivot would trigger the first major support level to appear at $170.

Barring an extended sell off, Litecoin should move away from levels below $165. The second major support level is at $157.

Looking at technical indicators

First Major Support Level: $170

Pivot level: $177

First major resistance level: $191

23.6% Fib Retracement Level: $178

38.2% Fib Retracement Level: $223

62% FIB Retracement Level: $296

Ripple XRP

XRP of Ripple is up 12.80% on Friday. Reversing a 4.55% drop from Thursday, XRP ended the day at $1.09072.

A mixed start to the day saw Ripple’s XRP drop to an intraday early morning low of $0.95130 before making any move.

After moving away from the first major support level at $0.9180, XRP of XRP surged to an intraday high at $1.09,695.

XRP of Ripple has breached the first major resistance at $1.0290 and the second major resistance at $1.0922.

However, a late pullback saw Ripple’s XRP slip through the second major resistance level to conclude the day at $1,090 levels.

At the time of writing, XRP is down 0.31% to $1.08,731. A mixed start to the day saw Ripple’s XRP surge to an early morning high of $1.11,000 before dropping to $1.07108.

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

for the next day

Ripple’s XRP will need to avoid the $1.0463 pivot to achieve the first major resistance level at $1.1413.

Support from the broader market will be needed, however, for XRP to break out of the morning high at $1.11,000.

Barring an extended crypto rally, the first major resistance level for any uptrend is likely to be capped.

In the event of another breakout, Ripple’s XRP could test the $1.20 resistance before any pullback. The second major resistance level is located at $1.1920.

A fall across the $1.0463 pivot would trigger the first major support level at $0.9957.

However, barring an extended sell-off, Ripple’s XRP should move away from the sub-$0.95 levels. The second major support level is located at $0.9007.

Looking at technical indicators

First Major Support Level: $0.9957

Pivot level: $1.0463

The first major resistance level: $1.1413

23.6% Fib Retracement Level: $0.8533

38.2% Fib Retracement Level: $1.0659

62% Fibonacci Retracement Level: $1.4096

Please tell us what you think in the comments below.

Thanks bob

This article was originally published on FX Empire

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