Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 27th, 2021

Ethereum

Ethereum rose by 4.68% on Sunday. Following a 0.22% decline on Saturday, Ethereum ended the week down by 8.05% to $3,060.71.

A mixed start to the day saw Ethereum slide to a late morning intraday low $2,741.34 before making a move.

Ethereum fell through the first major support level at $2,826.

Finding support at the 38.2% FIB of $2,740, however, Ethereum rallied to a late intraday high $3,117.48.

Ethereum broke through the first major resistance level at $2,995 and the second major resistance level at $3,067 before ending the day at $3,060 levels.

At the time of writing, Ethereum was down by 0.23% to $3,028.76. A mixed start to the day saw Ethereum rise to an early morning high $3,064.63 before falling to a low $3,028.76.

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

For the day ahead

Ethereum would need to avoid the $2,973 pivot to bring the first major resistance level at $3,205 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,200 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 the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,349.

A fall through the $2,973 pivot would bring the first major support level at $2,829 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $2,597. The 38.2% FIB of $2,740 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,829

Pivot Level: $2,973

First Major Resistance Level: $3,205

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 0.18% on Sunday. Following a 0.83% decline on Saturday, Litecoin ended the week down by 14.24% to $150.74.

A bearish start to the day saw Litecoin slide to a late morning intraday low $142.07 before making a move.

Litecoin fell through the first major support level at $148 and the second major support level at $145.

Steering clear of sub-$140 levels, however, Litecoin rallied to a late intraday high $153.51.

Falling short of the first major resistance level at $155, Litecoin slipped back to $150 levels and into the red.

At the time of writing, Litecoin was down by 0.45% to $150.06. A mixed start to the day saw Litecoin rise to an early morning high $150.76 before falling to a low $149.32.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid the $149 pivot to bring the first major resistance level at $156 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $153.51.

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

In the event of another breakout, Litecoin could test resistance at $165 before any pullback. The second major resistance level sits at $160.

A fall through the $149 pivot would bring the first major support level at $144 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$140. The second major support level sits at $137.

Looking at the Technical Indicators

First Major Support Level: $144

Pivot Level: $149

First Major Resistance Level: $156

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 0.52% on Sunday. Reversing a 0.53% decline on Saturday, Ripple’s XRP ended the week down by 9.89% to $0.94438.

A bearish start to the day saw Ripple’s XRP fall to a late morning intraday low $0.89322 before making a move.

Ripple’s XRP fell through the first major support level at $0.9196 and the second major support level at $0.8993.

Finding late morning support, however, Ripple’s XRP rose to a late intraday high $0.95634.

Falling short of the first major resistance level at $0.9587, Ripple’s XRP slid back to sub-$0.95 levels.

At the time of writing, Ripple’s XRP was down by 0.31% to $0.94143. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.94359 to a low $0.93604.

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

https://finance.yahoo.com/

For the day ahead

Ripple’s XRP would need to avoid the $0.9313 pivot to bring the first major resistance level at $0.9694 into play.

Support would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.95634.

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 the second major resistance level at $0.9944.

A fall through $0.9313 pivot would bring the first major support level at $0.9063 into play. Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.8682.

Looking at the Technical Indicators

First Major Support Level: $0.9063

Pivot Level: $0.9313

First Major resistance Level: $0.9694

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

This article was originally posted on FX Empire

More From FXEMPIRE:

  • Price of Gold Fundamental Weekly Forecast – Tapering, Higher Rates are Coming; Don’t Fight the Federal Reserve

  • The Week Ahead – Central Bank Chatter, Evergrande, and a Busy Economic Calendar in Focus

  • EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 27th, 2021

  • Central Bank Chatter and U.S Economic Data Put the EUR, GBP, and the USD in Focus

  • Earnings Week Ahead: IHS Markit, Micron, CarMax and Bed Bath & Beyond in Focus

  • Oil Price Fundamental Weekly Forecast – Supply Driven Rally so API, EIA Numbers Take on Greater Importance


Be the first to comment

Leave a Reply

Your email address will not be published.


*