Yahoo Finanza Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 29th, 2020
Ethereum
Ethereum fell by 1.01% on Monday. Reversing a 1.06% gain from Sunday, Ethereum ended the day at $353.91
It was a bullish start to the day. Ethereum rallied to a midday intraday high $368.52 before hitting reverse.
The early rally saw Ethereum break through the first major resistance level at $364.74 and the 38.2% FIB of $367.
The reversal saw Ethereum slide to a final hour intraday low $351.88. While falling back through the 38.2% FIB and the first major resistance level, Ethereum steered clear of the major support levels.
At the time of writing, Ethereum was up by 0.25% to $354.79. A mixed start to the day saw Ethereum fall to an early morning low $351.65 before rising to a high $355.34.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $358.10 pivot to support a run at the first major resistance level at $364.33.
Support from the broader market would be needed, however, for Ethereum to break back through to $360 levels.
Barring an extended crypto rally, the first major resistance level and 38.2% FIB of $367 would likely cap any upside.
Failure to move through the $358.10 pivot would bring the first major support level at $347.69 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$340 levels. The second major support level at $341.46 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $347.69
Pivot Level: $358.10
First Major Resistance Level: $364.33
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin fell by 1.89% on Monday. Reversing a 0.04% gain from Sunday, Litecoin ended the day at $45.21.
It was also a bullish start to the day. Litecoin rallied to an early morning intraday high $47.13 before falling back.
The early rally saw Litecoin break through the first major resistance level at $46.94 before falling to a low $46.02.
Another rally in the late morning saw Litecoin break back through the first major resistance level before hitting reverse.
The reversal saw Litecoin slide to a final hour intraday low $44.80 before wrapping up the day at $45 levels.
The first major support level at $44.91 limited the downside on the day.
At the time of writing, Litecoin was up by 0.51% to $45.44. A mixed start to the day saw Litecoin fall to an early morning low $45.08 before rising to a high $45.46.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $45.71 pivot to support a run at the first major resistance level at $46.63.
Support from the broader market would be needed, however, for Litecoin to break back through to $46 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, the second major resistance level at $48.04 could come into play.
Failure to move through the $45.71 pivot level would bring the first major support level at $44.30 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $43.38.
Looking at the Technical Indicators
First Major Support Level: $44.30
Pivot Level: $45.71
First Major Resistance Level: $46.63
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP fell by 1.06% on Monday. Reversing a 0.69% gain from Sunday, Ripple’s XRP ended the day at $0.24079.
A bullish start to the day saw Ripple’s XRP rally to a late afternoon intraday high $0.2550 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.2463 and the second major resistance level at $0.2492.
The reversal saw Ripple’s XRP slide to a final hour intraday low $0.2396.
While falling back through the resistance levels, Ripple’s XRP avoided the first major support level at $0.2389.
At the time of writing, Ripple’s XRP was up by 0.25% to $0.24138. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.24001 before rising to a high $0.24185.
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 $0.2451 pivot to support a run at the first major resistance level at $0.2507.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.25 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to move through the $0.2451 pivot would bring the first major support level at $0.2353 into play.
Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels. The second major support level sits at $0.2297.
Looking at the Technical Indicators
First Major Support Level: $0.2353
Pivot Level: $0.2451
First Major Resistance Level: $0.2507
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire
