Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 25th, 2020
Ethereum
Ethereum jumped by 8.89% on Thursday. Reversing a 6.86% slide from Wednesday, Ethereum ended the day at $349.14.
A mixed start to the day saw Ethereum fall to an early morning intraday low $323.38 before making a move.
Steering clear of the first major support level at $307.54, Ethereum rallied to a late intraday high $353.14.
Ethereum broke through the first major resistance level at $339.18 to return to $350 levels for the 1st time since Monday. A bearish end to the day, however, left Ethereum at sub-$350.
At the time of writing, Ethereum was down by 0.48% to $347.47. A mixed start to the day saw Ethereum rise to an early morning high $350.50 before falling to a low $346.64.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $341.89 pivot to support a run at the first major resistance level at $360.39.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $353.14.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $341.89 pivot would bring the first major support level at $330.63 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The second major support level at $312.13 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $330.63
Pivot Level: $341.89
First Major Resistance Level: $360.39
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin
Litecoin rallied by 4.66% on Thursday. Reversing a 3.53% slide from Wednesday, Litecoin ended the day at $44.95.
It was a mixed start to the day. Litecoin fell to an early morning intraday low $42.59 before making a move.
Steering clear of the first major support level at $41.73, Litecoin rallied to a late afternoon intraday high $45.23.
The rally saw Litecoin break through the first major resistance level at $44.61.
In spite of a bearish end to the day, Litecoin avoided a fall back through the first major resistance level.
At the time of writing, Litecoin was down by 0.80% to $44.59. A bearish start to the day saw Litecoin fall from an early morning high $44.99 to a low $44.61.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall back through the $44.26 pivot to support a run at the first major resistance level at $45.92.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $45.23.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall back through the $44.26 pivot level would bring the first major support level at $43.28 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$42 levels. The second major support level sits at $41.62.
Looking at the Technical Indicators
First Major Support Level: $43.28
Pivot Level: $44.26
First Major Resistance Level: $45.92
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP rallied by 5.23% on Thursday. Reversing a 5.02% slide from Wednesday, Ripple’s XRP ended the day at $0.23297.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.21925 before making a move.
Steering clear of the first major support level at $0.2162, Ripple’s XRP rallied to a late afternoon intraday high $0.2350.
Ripple’s XRP broke through the first major resistance level at $0.2307 to wrap up the day at $0.232 levels.
At the time of writing, Ripple’s XRP was down by 0.56% to $0.23167. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.2333 to a low $0.23156.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.2291 pivot to support a run at the first major resistance level at $0.2389.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.2350.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $0.2291 pivot would bring the first major support level at $0.2231 into play.
Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.22 levels and the second major support level at $0.2133.
Looking at the Technical Indicators
First Major Support Level: $0.2231
Pivot Level: $0.2291
First Major Resistance Level: $0.2389
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
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