Daily Tech Analysis – June 26th, 2021

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,019.39 before hitting reverse.

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Falling short of the first major resistance level at $2,055, Ethereum slid to a mid-afternoon intraday low $1,792.00.

The sell-off saw Ethereum fall through the first major support level at $1,904 and the second major support level at $1,819.

Steering clear of the 62% FIB of $1,725, Ethereum briefly broke back through the second major support level before ending the day at sub-$1,810 levels.

At the time of writing, Ethereum was down by 0.21% to $1,805.22. A mixed start to the day saw Ethereum rise to an early morning high $1,818.24 before falling to a low $1,799.51.

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

For the day ahead
Ethereum would need to move through the $1,874 pivot to bring the first major resistance level at $1,955 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,900 levels.

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Barring an extended crypto rally, the first major resistance level and Friday’s high $2,019.39 would likely cap any upside.

In the event of a broad-based crypto rebound, Ethereum could test resistance at $2,200. The second major resistance level sits at $2,101.

Failure to move through the $1,874 pivot would bring the first major support level at $1,728 and the 62% FIB of $1,725 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,646.

Looking at the Technical Indicators
First Major Support Level: $1,728

Pivot Level: $1,874

First Major Resistance Level: $1,955

23.6% FIB Retracement Level: $3,369

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38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

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Litecoin
Litecoin slid by 7.09% on Friday. Reversing a 4.11% gain from Thursday, Litecoin ended the day at $125.0.

Tracking the broader market, Litecoin rose to an early morning intraday high $138.45 before hitting reverse.

Falling short of the first major resistance level at $140, Litecoin slid to a late intraday low $124.34.

The extended sell-off saw Litecoin fall through the first major support level at $126.4 before finding support.

Litecoin briefly broke back through the first major support level before ending the day at $125 levels.

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At the time of writing, Litecoin was down by 0.44% to $124.45. A mixed start to the day saw Litecoin rise to an early morning high $125.46 before falling to a low $124.00.

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

For the day ahead
Litecoin would need to move through the $129 pivot to bring the first major resistance level at $134 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $130 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $138.45 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $150. The second major resistance level sits at $143.

Failure to move through the $129 pivot would bring the first major support level at $120 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$110 levels. The second major support level at $115 should limit the downside.

Looking at the Technical Indicators
First Major Support Level: $120

Pivot Level: $129

First Major Resistance Level: $134

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 9.39% on Friday. Reversing a 4.65% gain from Thursday, Ripple’s XRP ended the day at $0.61128.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.68823 before hitting reverse.

Falling short of the first major resistance level at $0.7026, Ripple’s XRP slid to a late intraday low $0.60234.

Ripple’s XRP fell through the first major support level at $0.6271 to end the day at $0.61 levels.

At the time of writing, Ripple’s XRP was down by 0.73% to $0.60683. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.61262 before falling to a low $0.60544.

Ripple’s XRP left the major support and resistance levels untested early on.

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For the day ahead
Ripple’s XRP will need to move through the $0.6340 pivot to bring the first major resistance level at $0.6656 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.65 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $0.68823 would likely cap any upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.75. The second major resistance level sits at $0.7198.

Failure to move through the $0.6340 pivot would bring the first major support level at $0.5797 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.55 levels. The second major support level sits at $0.5481.

Looking at the Technical Indicators
First Major Support Level: $0.5797

Pivot Level: $0.6340

First Major resistance Level: $0.6656

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

LTC/USD Regain Losses Above $123 Support

The Litecoin price may likely settle above the 9-day and 21-day moving averages as the Relative Strength Index (14) moves toward 40-level.

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LTC/USD Market
Key Levels:

Resistance levels: $175, $195, $215

Support levels: $80, $60, $40

Litecoin Price Prediction
LTCUSD – Daily Chart
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LTC/USD trades above the 9-day and 21-day moving averages within the channel. However, the Litecoin price is now trying to create an uptrend since yesterday, and should the buyers keep the movement above the 9-day and 21-day moving averages, the coin might resume the upward movement. Today, an early trading session touches the $137.40 level before rebounding to where it is trading currently at $136.38.

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Litecoin Price Prediction: Will Litecoin Price Target $150 Level?
The Litecoin price needs to cross above the 9-day and 21-day MAs; therefore, if the resistance level of $150 gives way, the bull-run may come to focus. At the time of writing, the bullish movement seems more dominant as buyers continue to post strong commitments into the market.

For the past few hours, we could see a sharp rise in the market price and if the coin stays above the $140 resistance level, this could further strengthen the market to hit the potential resistance levels of $175, $195, and $215.

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On the downside, a lower possible swing may likely retest the previous support below the lower boundary of the channel. However, if the bears manage to fuel the market, traders may expect a further drop to $80, $60, and $40 support levels. On the other hand, the technical indicator Relative Strength Index (14) is now moving to cross above 40-level, indicating that the market may maintain the bullish movement if it comes to play.

Comparing with Bitcoin, the Litecoin price keeps operating below the 9-day and 21-day moving averages. However, if the bullish movement continues, the resistance level of 4500 SAT is expected to be visited; although there might not be any reason to expect the long-term bullish reversal as the red-line of the 9-day MA is still below the green-line of the 21-day MA.

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LTCBTC – Daily Chart
In other words, if the Litecoin price crosses below the lower boundary of the channel, it could refresh lows under 3600 SAT and a possible bearish continuation may likely meet the major support at 3400 SAT before falling to 3300 SAT and below while the buyers may push the coin to the potential resistance at 4600 SAT and above if the bulls successfully push the coin above the 9-day and 21-day MAs. Meanwhile, to support the bullish movement, the technical indicator Relative Strength Index (14) is recovering from the oversold region to give more bullish signals.

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Falling short of the first major resistance level at $2,055, Ethereum slid to a mid-afternoon intraday low $1,792.00.

The sell-off saw Ethereum fall through the first major support level at $1,904 and the second major support level at $1,819.

Steering clear of the 62% FIB of $1,725, Ethereum briefly broke back through the second major support level before ending the day at sub-$1,810 levels.

At the time of writing, Ethereum was down by 0.21% to $1,805.22. A mixed start to the day saw Ethereum rise to an early morning high $1,818.24 before falling to a low $1,799.51.

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