Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 15th, 2021

·5 min read

Ethereum

Ethereum rose by 2.89% on Monday. Following a 5.83% rally on Sunday, Ethereum ended the day at $2,582.86.

A bearish start to the day saw Ethereum fall to a late morning intraday low $2,461.63 before making a move.

Steering clear of the first major support level at $2,363, Ethereum rallied to a late afternoon intraday high $2,609.02.

Coming up against the first major resistance level at $2,603, Ethereum eased back to end the day at $2,580 levels.

At the time of writing, Ethereum was up by 0.32% to $2,591.11. A mixed start to the day saw Ethereum rise to an early morning high $2,597.76 before falling to a low $2,572.2.

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

For the day ahead

Ethereum would need to avoid the $2,551 pivot to bring the first major resistance level at $2,641 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $2,609.02.

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

In the event of another broad-based crypto rally, Ethereum could test resistance at the 38.2% FIB of $2,740 before any pullback. The second major resistance level sits at $2,699.

A fall through the $2,551 pivot would bring the first major support level at $2,493 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,400 levels. The second major support level at $2,404 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,493

Pivot Level: $2,551

First Major Resistance Level: $2,641

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 5.32% on Monday. Following on from a 5.66% gain on Sunday, Litecoin ended the day at $180.02.

A bearish start to the day saw Litecoin fall to a late morning intraday low $166.33 before making a move.

Steering clear of the first major support level at $161, Litecoin rallied to a late intraday high $180.18.

Litecoin broke through the 62% FIB of $174 and the first major resistance level at $176 to end the day at $180 levels.

At the time of writing, Litecoin was down by 0.49% to $179.13. A mixed start to the day saw Litecoin rise to an early morning high $180.70 before falling to a low $178.46.

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

For the day ahead

Litecoin would need to avoid the $176 pivot and the 62% FIB of $174 to bring the first major resistance level at $185 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $180.70.

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

In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $189.

A fall through the $175 pivot and the 62% FIB would bring the first major support level at $171 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $162.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $171

Pivot Level: $176

First Major Resistance Level: $185

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rise by 0.55% on Monday. Following a 6.20% rally on Sunday, Ripple’s XRP ended the day at $0.89048.

A bearish morning saw Ripple’s XRP fall to a mid-day intraday low $0.86381 before making a move.

Steering clear of the 62% FIB of $0.8573 and the first major support level at $0.8381, Ripple’s XRP rallied to a late afternoon intraday high $0.92923.

Ripple’s XRP broke through the first major resistance level at $0.9082 before falling back to sub-$0.90 levels.

At the time of writing, Ripple’s XRP was down by 0.16% to $0.88905. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.89088 before falling to a low $0.88651.

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

For the day ahead

Ripple’s XRP will need to move through the $0.8945 pivot to bring the first major resistance level at $0.9252 into play.

Support from the broader market 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 Monday’s high $0.92923 would likely cap any upside.

In the event of another extended rally, Ripple’s XRP could test resistance at $1.00. The second major resistance level sits at $0.9599.

Failure to move through the $0.8945 pivot would bring the first major support level at $0.8598 and the 62% FIB of $0.8573 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level at $0.8291 should limit the downside.

A sustained fall through the 62% FIB of $0.8573 would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.8598

Pivot Level: $0.8945

First Major resistance Level: $0.9252

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

More From FXEMPIRE: