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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 16th, 2021

By:
Bob Mason
Updated: Sep 16, 2021, 01:08 UTC

Following a bullish Wednesday, the majors will need to avoid the day's pivot levels to support another breakout day ahead.

Silver and golden coins with bitcoin, ripple and ethereum symbol

Ethereum

Ethereum rallied by 5.22% on Wednesday. Following a 4.58% gain on Tuesday, Ethereum ended the day at $3,615.65.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,359.96 before making a move.

While steering clear of the first major support level at $3,325, Ethereum fell through the 23.6% FIB of $3,369.

Finding late morning support, however, Ethereum rallied to a late intraday high $3,621.15.

Ethereum broke through the first major resistance level at $3,493 and the second major resistance level at $3,551.

The extended rally also saw Ethereum broke back through the 23.6% FIB of $3,369 to end the day at $3,600 levels.

At the time of writing, Ethereum was down by 0.49% to $3,598.00. A mixed start to the day saw Ethereum rise to an early morning high $3,621.84 before falling to a low $3,597.36.

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

ETHUSD 160921 Hourly Chart

For the day ahead

Ethereum would need to avoid the $3,532 pivot to bring the first major resistance level at $3,705 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $3,650 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,793.

A fall through the $3,532 pivot would bring the first major support level at $3,443 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $3,369. The second major support level sits at $3,271.

Looking at the Technical Indicators

First Major Support Level: $3,443

Pivot Level: $3,532

First Major Resistance Level: $3,705

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.34% on Wednesday. Following a 2.06% gain on Tuesday, Litecoin ended the day at $189.24.

A mixed start to the day saw Litecoin fall to an early morning intraday low $179.59 before making a move.

Steering clear of the 23.6% FIB of $178 and the first major support level at $177, Litecoin rallied to a late intraday high $191.86.

Litecoin broke through the first major resistance level at $189 to end the day at $189 levels.

At the time of writing, Litecoin was down by 0.46% to $188.37. A mixed start to the day saw Litecoin rise to an early morning high $190.07 before falling to a low $188.33.

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

LTCUSD 160921 Hourly Chart

For the day ahead

Litecoin would need to avoid the $187 pivot to bring the first major resistance level at $194 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $191.86.

Barring an extended crypto rally, the first major resistance level and resistance at $195 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $200. The second major resistance level sits at $199.

A fall through the $187 pivot would bring the first major support level at $182 and 23.6% FIB of $178 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$175. The second major support level at $175 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $182

Pivot Level: $187

First Major Resistance Level: $194

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 2.24% on Wednesday. Following a 3.07% rise on Tuesday, Ripple’s XRP ended the day at $1.12008.

A mixed start to the day saw Ripple’s XRP fall to a mid-morning intraday low $1.07955 before making a move.

Steering clear of the first major support level at $1.0702, Ripple’s XRP rallied to a late intraday high $1.12952.

Ripple’s XRP broke through the first major resistance level at $1.1102 and the second major resistance level at $1.1236.

A late pullback, however, saw Ripple’s XRP fall back through the second major resistance level to end the day at $0.1210 levels.

At the time of writing, Ripple’s XRP was up by 0.03% to $1.12037. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.12150 before falling to a low $1.12037.

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

XRPUSD 160921 Hourly Chart

For the day ahead

Ripple’s XRP would need to avoid the $1.1097 pivot to bring first major resistance level at $1.1399 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.12952.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1597.

A fall through the $1.1097 pivot would bring the first major support level at $1.0899 and the 38.2% FIB of $1.0659 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $1.0597.

Looking at the Technical Indicators

First Major Support Level: $1.0899

Pivot Level: $1.1097

First Major resistance Level: $1.1399

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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