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

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

Ethereum

Ethereum is up 5.83% on Sunday. After a 0.70% gain from Saturday, Ethereum ended the week down 7.40% to $2,510.23.

A bearish start to the day saw Ethereum drop to an intraday low in the early morning at $2,309.67 before making any move.

Moving away from the first major support level at $2,270, Ethereum surged to an intraday high of $2,550.00.

Ethereum has breached the first major resistance level at $2,463. However, against the second major resistance level at $2,554, Ethereum retreated once again to levels below $2,520.

At the time of writing, Ethereum is down 0.47% to $2,498.40. A mixed start to the day saw Ethereum rise to an early morning high of $2,524.99 before dropping to $2,496.05.

Ethereum left key support and resistance levels untested early on.

for the next day

Ethereum will need to avoid the $2,457 pivot to trigger the first major resistance level at $2,604.

Support from the broader market will be needed, however, for Ethereum to break out of Sunday’s high of $2,550.00.

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

In the event of another broad-based crypto rally, Ethereum could test the 38.2% FIB resistance of $2,740 before any pullback. The second major resistance level is located at $2,697.

A fall across the $2,457 pivot would trigger the first major support level at $2,363.

However, barring an extended sell-off, Ethereum should move away from levels below $2,300. The second major support level is located at $2,216.

Looking at technical indicators

First major support level: $2,363

Pivot level: $2,457

First major resistance level: $2,604

23.6% Fib Retracement Level: $3,369

38.2% Fib Retracement Level: $2,740

62% Fib Retracement Level: $1,725

Litecoin

Litecoin is up 5.66% on Sunday. Litecoin reversed a loss of 0.63% from Saturday, ending the week 3.04% lower at $171.02.

A bearish start to the day saw Litecoin drop to an intraday early morning low of $156.54 before making any move.

Finding support at the first major support level at $156, Litecoin surged to an intraday high of $171.73.

Litecoin broke the first major resistance at $166 and the second major resistance at $170.

A late pullback saw Litecoin pull back briefly through the second major resistance level before ending the day at $171 levels.

At the time of writing, Litecoin is down 0.29% at $170.53. A mixed start to the day saw Litecoin climb to an early morning high of $172.66 before dropping to $170.22.

Litecoin left key support and resistance levels untested early on.

for the next day

Litecoin will need to avoid the $166 pivot to fetch the 62% Fib of $174 and the first major resistance level at $176.

However, support from the broader market will be needed to exit Litecoin at 62% FIB.

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 resistance at $190. The second major resistance level is located at $182.

A fall across the $166 pivot would trigger the first major support level at $161.

Barring an extended sell off, Litecoin should move away from levels below $160. The second major support level is located at $151.

Continued decline through 62% FIB of $174 would form a downtrend near 10y May’s swing is $413.91.

Looking at technical indicators

First Major Support Level: $161

Pivot level: $166

First major resistance level: $176

23.6% Fib Retracement Level: $322

38.2% Fib Retracement Level: $265

62% Fib Retracement Level: $174

Ripple XRP

XRP is up 6.20% on Sunday. After falling 1.81% from Saturday, XRP ended the week down 6.67% to $0.88289.

A bearish start to the day saw Ripple’s XRP drop to an intraday low in the early morning at $0.81861 before making any move.

After moving away from the first major support level at $0.8100, XRP surged to an intraday high at $0.88876.

XRP of Ripple has breached the first major resistance at $0.8498 and the second major resistance at $0.8681. More importantly, Ripple’s XRP also broke the 62% FIB level of $0.8573.

Late in the day, XRP fell briefly to $0.87 levels before ending the day at $0.88 levels.

At the time of writing, XRP is down 0.01% to $0.88278. A mixed start to the day saw XRP surge to an early morning high at $0.89280 before declining to $0.88210.

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

for the next day

Ripple’s XRP will need to avoid the $0.8634 pivot to bring the first major resistance level at $0.9082.

Support from the broader market will be needed, however, for Ripple XRP to break above Sunday’s high of $0.88876.

Barring an extended rally for the cryptocurrency, the first major resistance and resistance level at $0.91 is likely to cap an upside move.

In the event of another extended rally, XRP could test the resistance at $1.00. The second major resistance level is located at $0.9336.

A decline through the $0.8634 pivot would trigger the 62% Fib level from $0.8573 and the first major support level at $0.8381.

However, barring another extended sell off, XRP should move away from the sub-$0.80 levels. The second major support level is located at $0.7933.

A continued drop through the 62% Fibonacci level at $0.8573 would form a downtrend near 14y April swing high $1,96598.

Looking at technical indicators

First major support level: $0.8381

Pivot level: $0.8634

First major resistance level: $0.9082

23.6% Fibonacci Retracement Level: $1.5426

38.2% Fib Retracement Level: $1.2807

62% Fibonacci Retracement Level: $0.8573

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Thanks bob

This article was originally published on FX Empire

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