Ethereum, Litecoin, & Ripple’s XRP Technical Analysis – 14th September

Crypto majors range-bound for the second day in a row

Last Updated September 14th 2021
5 Min Read

Ethereum

Ethereum was range-bound for the better part of Monday. It started the day bullish after it bounced off the 23.6% Fibonacci support at $3251.71 on Sunday.

However, just before daybreak, it hit resistance on the 38.2% Fibonacci at $3399.15. Without much momentum in the broader market, Ethereum could not push through this resistance.

Bears took control from that point on, and just after daybreak, Ethereum had hit the 23.6% Fibonacci support at $3251.71.

Ethereum briefly pushed through this support, but a decline in selling momentum saw it trade back above the 23.6% Fibonacci support by mid-morning.

This range-bound trading continued until late afternoon when a sudden increase in volatility in the broader market.

The volatility was so high that Ethereum rallied to over $3380. It dropped to a low of $3109.93 in two hours.

This volatility quickly disappeared, and Ethereum gained albeit slowly for the rest of the day. 

By the end of the day, Ethereum was trading just above the 23.6% Fibonacci support.

Ethereum started trading Tuesday in a range, a continuation of Monday’s overall price action.

It started the day with gains, but just before daybreak found strong resistance just above the $3300 price level.

It has been oscillating between this price level and the 23.6% Fibonacci support all through the morning.

At the time of going to press, Ethereum was up by 3.17% to trade at $3304.5.

ETH/USD 1-hour chart 091421

A glance at the day ahead

In the day, the key levels to watch will be the 38.2% Fibonacci resistance at $3399.15 and the 23.6% Fibonacci support at $3251.71.

If in the day bulls take control and push Ethereum through the 38.2% Fibonacci resistance at $3399.15, the next key level to watch would be the 50.0% Fibonacci at $3518.51.

If this resistance is broken, then prices above $3600 could be possible in the day.

On the other hand, if bears take control in the day and push Ethereum through the 23.6% Fibonacci support at $3251.71, the next key level to watch would be yesterday’s low of $3109.93.

If bears manage to push Ethereum through this price level, then prices below $3000 could be seen in the day.

A glance at technicals

Key resistance: 38.2% Fibonacci at $3399.15

Key support: 23.6% Fibonacci at $3251.71

Litecoin

Litecoin was directionless all through Monday. It started the day bullish, a continuation of the upside momentum that started in late Sunday trading. 

However, just before daybreak, it hit resistance multiple-day resistance at $$184.04. Litecoin briefly pushed through this resistance, but the move was quickly rejected without much momentum in the broader market.

Bears took control from that point on, and just after daybreak, Litecoin dropped through the 23.6% Fibonacci support at $179.86.

Bearish momentum increased, and by mid-morning, Litecoin tested multiple-day support at $172.34.

Litecoin briefly pushed through this support, but a decline in selling momentum saw it bounce back by mid-morning. By late afternoon, a sudden increase in volatility in the broader market saw Litecoin test highs of $235.76 before it dropped back to a low of $169 in just two hours.

This volatility quickly disappeared, and Litecoin continued trading in a range just below the 23.6% Fibonacci resistance at $179.86.

Litecoin started trading Tuesday in a range, a continuation of Monday’s overall price action.

It started the day with gains, but just before daybreak found strong resistance at the $184.04 intra-day resistance.  

Bears took control at daybreak and pushed it to the 23.6% Fibonacci support.  It has been trading around the 23.6% Fibonacci, now resistance, all through the morning.

At the time of going to press, Litecoin was up by 1.49% to trade at $179.77.

LTC/USD 1-hour chart 091421

A glance at the day ahead

In the day, the key levels to watch will be the 23.6% Fibonacci resistance at $179.86, and multiple day support at $172.34.

If bulls take control and push Litecoin through the 23.6% Fibonacci resistance in the day, the next key level to watch would be multi-day resistance at $184.04.

If this resistance is broken, the 38.2% Fibonacci resistance at $189.90 would come into focus. If it’s broken, prices above $195.00 could be possible in the day.

On the other hand, if bears take control in the day and push Litecoin through the multi-day support at $172.34, prices below $170 could be possible.

A glance at technicals

Key resistance: 23.6% Fibonacci at $179.86

 Key support: Multiple day support at $172.34

Ripple’s XRP

Ripple’s XRP was directionless all through the day.  It started the day bullish after it bounced off the 23.6% Fibonacci support at $1.0628 on Sunday.

However, just before daybreak, it hit resistance on the 38.2% Fibonacci at $1.1302. Without much momentum in the broader market, XRP could not push through this resistance.

Bears took control from that point on, and just after daybreak, XRP tested the 23.6% Fibonacci support at $1.0628.

XRP briefly pushed through this support, but a decline in selling momentum by mid-morning saw it trade back above the 23.6% Fibonacci.

This range-bound trading continued until late afternoon, when volatility rose in the broader market.  

The volatility was so high that XRP rallied to over $1.09, it dropped to a low of $1.02 in a span of two hours.  This volatility quickly disappeared, and XRP gained upside momentum, albeit slowly, for the rest of the day. 

By the end of the day, XRP was trading just above the 23.6% Fibonacci support.

XRP started Tuesday trading in a range, a continuation of Monday’s overall price action.

It started the day with gains and has been gaining since morning, albeit with low volumes.

At the time of going to press, XRP was up by 4% to trade at $1.08.

XRP/USD 1-hour chart 091421

A glance at the day ahead

In the day, the key levels to watch will be the 38.2% Fibonacci resistance at $1.1302 and the 23.6% Fibonacci support at $1.0628.

If in the day bulls take control and push Litecoin through the 38.2% Fibonacci resistance, the next key level to watch would be the 50.0% Fibonacci at $1.1847.

If this resistance is broken, then prices above $1.2could be possible in the day.

On the other hand, if bears take control in the day and push XRP through the 23.6% Fibonacci support at $1.0628, the next key level to watch would be yesterday’s low of $1.0247.

If bears manage to push XRP through this price level, prices below $1 could be seen in the day.

A glance at technicals

Key resistance: 38.2% Fibonacci at $1.1302

Key support: 23.6% Fibonacci at $1.0626

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