Ethereum, Litecoin, & Ripple’s XRP Technical Analysis – 15th Sep

Crypto majors are still in consolidation after last week’s selloff

Last Updated September 15th 2021
5 Min Read

Ethereum

Ethereum was range-bound all through the day on Tuesday. By the end of the day, it was up by about a percentage.

It started the day bullish after bulls managed to push it through the 23.6% Fibonacci resistance at $3251.7 in late Monday trading.

However, just before daybreak, bears took control. But without much support from the broader market, bears could not push Ethereum low enough to test the 23.6% Fibonacci, which was now support.

This energized bulls, and Ethereum was in the green for the better part of the day. By early evening, it had tested the 38.2% Fibonacci resistance at $3399.1.

Without much momentum from the broader market, bulls could not push Ethereum through this resistance.

What followed was a correction that lasted for the rest of the evening. However, the downside momentum was weak, and Ethereum did not come close to retesting the 23.6% Fibonacci support at $3251.7.

Ethereum started Wednesday in the same range-bound trading that characterized Tuesday’s trading session.

In the first two hours of the day, bulls tried to take control but failed to push it through the 38.2% Fibonacci resistance at $3399.1.

Ethereum was trading in a range just below the 38.2% Fibonacci resistance when going to press.

ETH/USD 1-hour chart 091521

A glance at the day ahead

The key levels to watch in the day are the 38.2 % Fibonacci resistance at $3399.1 and the 23.6% Fibonacci support at $3251.7.

If bullish momentum rises in the market and Ethereum pushes through the 38.2% Fibonacci resistance, the next key level to watch would be the 50.0% Fibonacci resistance at $3518.5.

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

On the other hand, if bears take control and push Ethereum through the 23.6% Fibonacci support at $3251.7, the next level to watch would be Tuesday’s low of $3109.93.

If it pushes through this level, then prices below $3000 could be possible in the day.

On the other hand, if volumes remain low through the day, then Ethereum could trade in a range between the 38.2% Fibonacci resistance and the 23.6% Fibonacci support all through the day.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $3399.1

Key support: 23.6% Fibonacci at $3251.7

Litecoin

Litecoin was range-bound all through Tuesday. By the end of the day, it was pretty much where it had started.

Litecoin started the day bearish, and just before daybreak, had pushed through the 23.6% Fibonacci support at $179.86.  

However, without much momentum from the broader market, bears could not push it much lower.

This energized bulls, and Litecoin was in the green for the better part of the day. By early evening, it had tested multi-week resistance at $184.04.

Without much momentum from the broader market, bulls could not push Litecoin through this resistance.

What followed was a correction that lasted for the rest of the evening. However, the downside momentum was weak, and the 23.6% Fibonacci support at $179.86 held by the end of the day.

Litecoin started Wednesday trading in a continuation of the range-bound trading that characterized Tuesday’s trading session.

In the first two hours of the day, bulls tried to take control but failed to push Litecoin through the multi-week resistance at $184.04.  

At the time of going to press, Litecoin was trading in a range just below this resistance.

LTC/USD 1-hour chart 091521

A glance at the day ahead

In the day, the key levels to watch will be the multi-week resistance at $184.04 and the 23.6% Fibonacci support at $179.86.

If bullish momentum rises in the market, and Litecoin pushes through the multi-week resistance at $184.04, the next key level to watch would be 38.2% Fibonacci resistance at $189.90.

If it pushes through this resistance, then prices above $200 could be possible in the day.

On the other hand, if bears take control and push Litecoin through the 23.6% Fibonacci support at $179.86, the next level to watch would be Tuesday’s low of $169.55.

If it pushes through this level, then prices below $165 could be possible in the day.

On the other hand, if volumes remain low throughout the day, Litecoin could trade in a range between the multi-week resistance at $184.04 and the 23.6% Fibonacci support at $179.86.

A glance at the technicals

Key resistance: Multi-week resistance at $184.04

Key support: 23.6% Fibonacci at $179.86

Ripple’s XRP

Ripple’s XRP was range-bound all through Tuesday. By the end of the day, it hadn’t moved much.

XRP started Tuesday in the green after bulls managed to push it through the 23.6% Fibonacci resistance at $1.0628 in late Monday trading.

However, just before daybreak, bulls lost momentum. But without much support from the broader market, bears could not push XRP through the 23.6% Fibonacci, which was now support.

This saw XRP trade above this support for the better part of the day. By early evening, bears retook control but failed to push it through the 23.6% Fibonacci support.

XRP started Wednesday with a bounce off the 23.6% Fibonacci support. When going to press, it was gaining upside momentum but was yet to test the 38.2% Fibonacci resistance at $1.1302.

XRP/USD 1-hour chart 091521

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 bullish momentum rises in the market, and XRP pushes through the 38.2% Fibonacci resistance, the next key level to watch would be the 50.0% Fibonacci resistance at $1.1847.

If this resistance too is broken, then prices above $1.22 could be achieved in the day.

On the other hand, if bears take control and push XRP through the 23.6% Fibonacci support at $1.0628, the next level to watch would be Tuesday’s low of $1.02470.

If it pushes through this level, then prices below $1 could be possible in the day.

On the other hand, if volumes remain low through the day, then XRP could trade in a range between the 38.2% Fibonacci resistance, and the 23.6% Fibonacci support all through the day.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $1.1320

Key support: 23.6% Fibonacci at $1.0628

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.