Ethereum

Ethereum fell by 4.19% on Thursday. Reversing a 1.82% gain from Wednesday, Ethereum ended the day at $3,093.20.

A mixed start to the day saw Ethereum rise to an early morning intraday high $3,251.05 before hitting reverse.

Falling short of the first major resistance level at $3,292, Ethereum slid to a mid-day intraday low $3,056.00.

Ethereum fell through the first major support level at $3,123 before a recovery to $3,140 levels.

A bearish end to the day, however, saw Ethereum fall back through the first major support level to end the day at sub-$3,100 levels.

At the time of writing, Ethereum was down by 0.01% to $3,092.81. A mixed start to the day saw Ethereum fall to an early morning low $3,050.00 before rising to a high $3,145.55.

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

For the day ahead

Ethereum would need to move back through the $3,133 pivot to bring the first major resistance level at $3,211 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $3,150 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $3,251.05 would likely cap any upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,329.

Failure to move back through the $3,133 pivot would bring the first major support level at $3,016 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $2,938.

Looking at the Technical Indicators

First Major Support Level: $3,016

Pivot Level: $3,133

First Major Resistance Level: $3,211

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 5.70% on Thursday. Reversing a 2.58% gain from Wednesday, Litecoin ended the day at $167.74.

A mixed start to the day saw Litecoin rise to an early morning intraday high $180.36 before hitting reverse.

While falling short of the first major resistance level at $182, Litecoin broke through the 23.6% FIB of $178.

The reversal saw Litecoin fall back through the 23.6% FIB and through the first major support level at $172.

Finding support at the second major support level at $166, however, Litecoin revisited $171 levels before easing back.

At the time of writing, Litecoin was down by 0.21% to $167.39. A mixed start to the day saw Litecoin fall to an early morning low $165.44 before rising to a high $171.26.

Litecoin left the major support and resistance levels untested early on

For the day ahead

Litecoin would need to move through the $171 pivot to bring the first major resistance level at $177 and the 23.6% FIB of $178 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $175 levels.

Barring an extended crypto rally, the first major resistance level and 23.6% FIB would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level at sits $186.

Failure to move through the $171 pivot would bring the first major support level at $162 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $156.

Looking at the Technical Indicators

First Major Support Level: $162

Pivot Level: $171

First Major Resistance Level: $177

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slid by 8.62% on Thursday. Reversing a 3.37% rise from Wednesday, Ripple’s XRP ended the day at $1.07225.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.1855 before hitting reverse.

Falling short of the first major resistance level at $1.1984, Ripple’s XRP slid to a late afternoon intraday low $1.06485.

Ripple’s XRP fell through the first major support level at $1.1290 and the second major support level at $1.0839.

Finding support at the 38.2% FIB of $1.0659, Ripple’s XRP briefly broke back through the second major support level before easing back.

At the time of writing, Ripple’s XRP was up by 0.22% to $1.07465. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.05061 before rising to a high $1.10075.

While leaving the major support and resistance levels untested early on, Ripple’s XRP briefly fell through the 38.2% FIB of $1.0659.

For the day ahead

Ripple’s XRP will need to move through the $1.1075 pivot to bring first major resistance level at $1.1502 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $1.10075.

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

In the event of another breakout, Ripple’s XRP could test resistance at $1.20 before any pullback. The second major resistance level sits at $1.2282.

Failure to move through the $1.1075 pivot would bring 38.2% FIB of $1.0659 and the first major support level at $1.0296 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level sits at $0.9869.

Looking at the Technical Indicators

First Major Support Level: $1.0296

Pivot Level: $1.1075

First Major resistance Level: $1.1502

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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(Excerpt) Read more Here | 2021-08-27 02:29:01
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