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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 25th, 2020

Bob Mason
·5 mins read

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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