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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 26th, 2020

Bob Mason
·5 mins read

Ethereum

Ethereum rose by 0.85% on Friday. Following on from an 8.89% jump on Thursday, Ethereum ended the day at $352.11.

A bearish start to the day saw Ethereum fall to a late morning intraday low $337.63 before making a move.

Steering clear of the first major support level at $330.63, Ethereum rallied to a late intraday high $358.12.

Falling short of the first major resistance level at $360.39, Ethereum eased back to wrap up the day at $352 levels.

At the time of writing, Ethereum was up by 0.19% to $352.78. A mixed start to the day saw Ethereum fall to an early morning low $351.31 before rising to a high $353.34.

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

For the day ahead

Ethereum would need to avoid a fall through the $349.29 pivot to support a run at the first major resistance level at $360.94.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $358.12.

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

Failure to avoid a fall through the $349.29 pivot would bring the first major support level at $340.45 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$330 levels. The second major support level sits at $328.80.

Looking at the Technical Indicators

First Major Support Level: $340.45

Pivot Level: $349.29

First Major Resistance Level: $360.94

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 2.38% on Friday. Following a 4.66% rally on Thursday, Litecoin ended the day at $46.02.

It was a bearish start to the day. Litecoin fell to a late morning intraday low $44.00 before making a move.

Steering clear of the first major support level at $43.28, Litecoin rallied to a late morning intraday high $46.55.

The rally saw Litecoin break through the first major resistance level at $45.92.

In the 2nd half of the day, Litecoin slipped back to sub-$45.50 levels before finding late support.

Litecoin broke back through the first major resistance level to wrap up the day at $46 levels.

At the time of writing, Litecoin was up by 0.43% to $46.22. A bullish start to the day saw Litecoin rise from an early morning low $46.02 to a high $46.23.

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

For the day ahead

Litecoin would need to avoid a fall through the $45.52 pivot to support a run at the first major resistance level at $47.05.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $46.55.

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

Failure to avoid a fall through the $45.52 pivot level would bring the first major support level at $44.50 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$43 levels. The second major support level sits at $42.97.

Looking at the Technical Indicators

First Major Support Level: $44.50

Pivot Level: $45.52

First Major Resistance Level: $47.05

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 3.73% on Friday. Following on from a 5.23% rally on Thursday, Ripple’s XRP ended the day at $0.24168.

Tracking the broader market, Ripple’s XRP fell to a late morning intraday low $0.2299 before making a move.

Steering clear of the first major support level at $0.2231, Ripple’s XRP rallied to a late intraday high $0.24470.

Ripple’s XRP broke through the first major resistance level at $0.2389 and the second major resistance level at $0.2448.

A late pullback, however, saw Ripple’s XRP fall back through the second major resistance level to end the day a $0.24168.

At the time of writing, Ripple’s XRP was up by 0.42% to $0.24269. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24174 to a high $0.24269.

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 $0.2388 pivot to support a run at the first major resistance level at $0.2476.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.2447.

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

Failure to avoid a fall through the $0.2388 pivot would bring the first major support level at $0.2328 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels and the second major support level at $0.2240.

Looking at the Technical Indicators

First Major Support Level: $0.2329

Pivot Level: $0.2388

First Major Resistance Level: $0.2476

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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