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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 4th, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 4th, 2021
Written by publisher team

Ethereum

Ethereum gained 4.01% on Friday. Reversing the 1.08% drop from Thursday, Ethereum ended the day at $3,940.06.

A mixed start to the day saw Ethereum drop to an early morning intraday low $3,710.59 before making any move.

Ethereum fell through the first major support level at $3,728 before rising to an early afternoon high of $4,030.35.

Ethereum broke through the key resistance levels of the day before a late pullback below $4,000.

The pullback saw Ethereum pull back through the third major resistance level at $4,014 to end the day at $3,900 levels.

At the time of writing, Ethereum is up 0.69% to $3,967.27. A mixed start to the day saw Ethereum drop to an early morning low of $3,915.00 before climbing to a high of $3,970.00.

Ethereum left key support and resistance levels untested early on.

for the next day

Ethereum will need to avoid the $3,894 pivot to trigger the first major resistance level at $4,077.

However, support from the broader market will be needed to exit Ethereum from Friday’s high of $4,030.35.

Barring another extended rally for the cryptocurrency, the first major resistance and resistance level at $4,100 is likely to cap an uptrend.

In the event that the cryptocurrency gains broadly, Ethereum could test the second major resistance level at $4,213.

A fall through the $3,894 pivot would trigger the first major support level at $3,757.

However, barring another extended sell off, Ethereum should move away from levels below $3,600. The second major support level is located at $3,574.

Looking at technical indicators

First Major Support Level: $3,757

Pivot level: $3,894

First major resistance level: $4,077

23.6% Fib Retracement Level: $3,369

38.2% Fib Retracement Level: $2,740

62% Fib Retracement Level: $1,725

Litecoin

Litecoin is up 16.25% on Friday. After a 1.40% gain on Thursday, Litecoin ended the day at $213.28.

A bearish start to the day saw Litecoin drop to an intraday early morning low of $179.87 before making any move.

Finding support at the first major support level at $179, Litecoin surged to an intraday high at $218.00.

Litecoin broke through the major resistance levels for the day to end the day at $213 levels.

At the time of writing, Litecoin is up 1.34% in value to $216.13. A mixed start to the day saw Litecoin drop to an early morning low of $211.52 before climbing to $216.25.

Litecoin left key support and resistance levels untested early on

for the next day

Litecoin will need to avoid the $204 pivot to trigger the first major resistance level at $228.

Support from the broader market will be needed, though, for Litecoin to break from Friday’s high of $218.00.

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

In the event of another extended breakout, Litecoin could test the second major resistance level at $242.

A fall through the $204 pivot would trigger the first major support level at $189.

However, barring another extended sell off, Litecoin should move away from the 23.6% FIB of $178. The second major support level is located at $166.

Looking at technical indicators

First Major Support Level: $189

Pivot level: $204

First major resistance level: $228

23.6% Fib Retracement Level: $178

38.2% Fib Retracement Level: $223

62% FIB Retracement Level: $296

Ripple XRP

XRP for Ripple is up 2.91% on Friday. After rising 1.35% on Thursday, XRP finished the day at $1.29081.

Tracking the broader market, Ripple XRP dropped to an early morning intraday low at $1.22020 before making a move.

Ripple’s XRP fell through the first major support level at $1.2198 before climbing to an afternoon high at $1.32354.

Ripple’s XRP broke the first major resistance level at $1.2919 before bouncing back in the opposite direction.

Having been in the range of the second major resistance level at $1.3295, Ripple’s XRP fell once again through the first major resistance level to briefly revisit the sub $1.29 levels.

However, after finding late support, XRP finished the day at $1.29 levels.

At the time of writing, Ripple’s XRP is up 0.32% to $1.29,500. A mixed start to the day saw Ripple’s XRP drop to an early morning low of $1.28,223 before climbing to $1.29,500.

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

for the next day

Ripple’s XRP will need to avoid the $1.2782 pivot to achieve the first major resistance level at $1.362.

Support from the broader market will be needed, however, for Ripple to break XRP from Friday’s high of $1.32354.

Barring an extended rally for the cryptocurrency, the first major resistance and resistance level at $1.35 is likely to cap any upside move.

In the event of another breakout, Ripple’s XRP could test the $1.40 resistance before any pullback. The second major resistance level is located at $1.3815.

A fall through the $1.2782 pivot would trigger the first major support level at $1.2328.

However, barring another extended sell off, Ripple’s XRP should move away from sub $1.20 levels. The second major support level is located at $1.1748.

Looking at technical indicators

First major support level: $1.2328

Pivot level: $1.2782

The first major resistance level: $1.3362

23.6% Fibonacci Retracement Level: $0.8533

38.2% Fib Retracement Level: $1.0659

62% Fibonacci Retracement Level: $1.4096

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Thanks bob

This article was originally published on FX Empire

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