Yahoo Finance Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 21st, 2021
Ethereum
Ethereum rallied by 7.81% on Tuesday. Reversing a 3.47% loss from Monday, Ethereum ended the day at $2,332.6.
A bearish start to the day saw Ethereum fall to an early morning intraday low $2,054.25 before making a move.
Finding support at the first major support level at $2,048, Ethereum rallied to a late intraday high $2,349.5.
Ethereum broke through the first major resistance level at $2,281 to wrap up the day at $2,300 levels.
At the time of writing, Ethereum was up by 0.35% to $2,230.65 A mixed start to the day saw Ethereum rise to an early high $2,347.48 before falling to a low $2,328.41.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the pivot level at $2,246 to support a run at the first major resistance level at $2,437.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,400 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at last week’s new swing hi $2,548.0 before any pullback. The second major resistance level sits at $2,541.
Failure to avoid a fall through the $2,246 pivot would bring the first major support level at $2,141 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,950. The 23.6% FIB of $1,966 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,141
Pivot Level: $2,246
First Major Resistance Level: $2,437
23.6% FIB Retracement Level: $1,966
38.2% FIB Retracement Level: $1,606
62% FIB Retracement Level: $1,023
Litecoin
Litecoin slipped by 0.26% on Tuesday. Following on from a 4.59% loss on Monday, Litecoin ended the day at $261.01.
A bearish start to the day saw Litecoin fall to an early morning intraday low $233.85 before making a move.
Litecoin fell through the first major support level at $246 before rallying to a late intraday high $276.47.
While falling short of the first major resistance level at $281, Litecoin broke through the 23.6% FIB of $262.
A bearish end to the day, however, saw Litecoin fall back through the 23.6% FIB to end the day at $261 levels.
At the time of writing, Litecoin was up by 1.73% to $262.52. A bullish start to the day saw Litecoin rise from an early morning low $260.87 to a high $265.77.
While leaving the major support and resistance levels untested early on, Litecoin broke back through the 23.6% FIB of $262.
For the day ahead
Litecoin would need to avoid a fall through the 23.6% FIB of $262 and the $257 pivot level to support a run at the first major resistance level at $280.
Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $276.47.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a bounce back, Litecoin could test the second major resistance level at $300.
Failure to avoid a fall through the 23.6% FIB and the $257 pivot would bring the first major support level at $238 into play.
Barring another extended sell-off, Litecoin should steer clear of the 38.2% FIB of $217. The second major support level sits at $215.
Looking at the Technical Indicators
First Major Support Level: $238
Pivot Level: $257
First Major Resistance Level: $280
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138
Ripple’s XRP
Ripple’s XRP rose by 5.76% on Tuesday. Partially reversing a 7.70% slide from Monday, Ripple’s XRP ended the day at $1.38587.
A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $1.17328 before making a move.
The sell-off saw Ripple’s XRP fall through the 38.2% FIB of $1.2807 and the first major support level at $1.1982.
Finding late morning support, Ripple’s XRP rallied to a late intraday high $1.44778 before easing back.
While falling short of the first major resistance level at $1.4775, Ripple’s XRP broke back through the 38.2% FIB of $1.2807.
A bearish end to the day, however, saw Ripple’s XRP fall back to end the day at sub-$1.40 levels.
At the time of writing, Ripple’s XRP was up by 2.03% to $1.41397. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.41435 before falling to a low $1.37993.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid the $1.3356 pivot level to bring the first major resistance level at $1.4980 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $1.44778.
Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $1.5426 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $1.60 levels before any pullback. The second major resistance level sits at $1.6101.
Failure to avoid a fall through the $1.3356 pivot would bring the 38.2% FIB of $1.2807 and the first major support level at $1.2235 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level at $1.0611 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.2235
Pivot Level: $1.3356
First Major resistance Level: $1.4980
23.6% FIB Retracement Level: $1.5426
38.2% FIB Retracement Level: $1.2807
62% FIB Retracement Level: $0.8573
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Thanks, Bob
This article was originally posted on FX Empire
