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

Ethereum

Ethereum rose by 4.01% on Friday. Reversing a 1.08% fall from Thursday, Ethereum ended the day at $3,940.06.

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

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

Ethereum broke through the day’s major resistance levels before a late pullback to sub-$4,000.

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

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

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

For the day ahead

Ethereum would need to avoid the $3,894 pivot to bring the first major resistance level at $4,077 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $4,030.35.

Barring another extended crypto rally, the first major resistance level and resistance at $4,100 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $4,213.

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

Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,600 levels. The second major support level sits at $3,574.

Looking at the 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 surged by 16.25% on Friday. Following a 1.40% gain on Thursday, Litecoin ended the day at $213.28.

A bearish start to the day saw Litecoin fall to an early morning intraday low $179.87 before making a move.

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

Litecoin broke through the day’s major resistance levels to wrap up the day at $213 levels.

At the time of writing, Litecoin was up by 1.34% to $216.13. A mixed start to the day saw Litecoin fall to an early morning low $211.52 before rising to a high $216.25.

Litecoin left the major support and resistance levels untested early on

http://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid the $204 pivot to bring the first major resistance level at $228 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $218.00.

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

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

A fall through the $204 pivot would bring the first major support level at $189 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the 23.6% FIB of $178. The second major support level sits at $166.

Looking at the 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’s XRP

Ripple’s XRP rose by 2.91% on Friday. Following a 1.35% gain on Thursday, Ripple’s XRP ended the day at $1.29081.

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

Ripple’s XRP fell through the first major support level at $1.2198 before rallying to a mid-afternoon intraday high $1.32354.

Ripple’s XRP broke through the first major resistance level at $1.2919 before hitting reverse.

Coming within range of the second major resistance level at $1.3295, Ripple’s XRP fell back through the first major resistance level to briefly revisit sub-$1.29 levels.

Finding late support, however, Ripple’s XRP wrapped up the day at $1.29 levels.

At the time of writing, Ripple’s XRP was up by 0.32% to $1.29500. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.28223 before rising to a high $1.29500.

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

http://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to avoid the $1.2782 pivot to bring first major resistance level at $1.3362 into play.

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

Barring an extended crypto rally, the first major resistance level and resistance at $1.35 would likely cap any upside.

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

A fall through the $1.2782 pivot would bring the first major support level at $1.2328 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.20 levels. The second major support level sits at $1.1748.

Looking at the Technical Indicators

First Major Support Level: $1.2328

Pivot Level: $1.2782

First Major resistance Level: $1.3362

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

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