Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 19th, 2021

Ethereum

Ethereum fell by 3.35% on Sunday. Following on from a 4.45% decline on Saturday, Ethereum ended the week up by 4.23% to $2,241.45.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,341.00 before hitting reverse.

Falling short of the first major resistance level at $2,439, Ethereum slid to an early morning intraday low $2,000.00.

The extended sell-off saw Ethereum fall through the first major support level at $2,258 and the second major support level at $2,197.

Finding support at the third major support level at $2,016, Ethereum bounced back to end the day at $2,200 levels.

The partial recovery saw Ethereum break back through the second major support level at $2,197.

At the time of writing, Ethereum was down by 0.60% to $2,228.01. A mixed start to the day saw Ethereum rise to an early morning high $2,254.00 before falling to a low $2,205.01.

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

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $2,194 to support a run at the first major resistance level at $2,388.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,300 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $2,341.00 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,500 before any pullback. The second major resistance level sits at $2,535.

Failure to avoid a fall through the $2,194 pivot would bring the first major support level at $2,047 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,853. The 23.6% FIB of $1,966 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,047

Pivot Level: $2,194

First Major Resistance Level: $2,388

23.6% FIB Retracement Level: $1,976

38.2% FIB Retracement Level: $1,606

62% FIB Retracement Level: $1,023

Story continues

Litecoin

Litecoin slid by 8.92% on Sunday. Following on from a 2.51% fall from Saturday, Litecoin ended the week up by 8.68% to $274.20.

A mixed start to the day saw Litecoin rise to an early morning high $305.33 before hitting reverse.

Falling short of the first major resistance level at $325, Litecoin slid to an early morning intraday low $241.09.

The sell-off saw Litecoin fall through the first major support level at $287 and the second major support level at $273.

More significantly, Litecoin also tumbled through the 23.6% FIB of $262.

Finding late morning support, Litecoin moved back through the 23.6% FIB and the second major support level to end the day at $274 levels.

At the time of writing, Litecoin was down by 1.12% to $271.13. A mixed start to the day saw Litecoin rise to an early morning high $275.62 before falling to a low $267.69.

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

For the day ahead

Litecoin would need to move back the $274 pivot level to support a run at the first major resistance level at $306.

Support from the broader market would be needed, however, for Litecoin to break back through to $300 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $305.33 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $320 before any pullback. The second major resistance level sits at $338.

Failure to move back through the $274 pivot level would bring the 23.6% FIB of $262 and the first major support level at $242 into play.

Barring an extended sell-off, Litecoin should steer clear of the the second major support level at $209. The 38.2% FIB of $217 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $242

Pivot Level: $274

First Major Resistance Level: $306

23.6% FIB Retracement Level: $250

38.2% FIB Retracement Level: $207

62% FIB Retracement Level: $138

Ripple’s XRP

Ripple’s XRP slid by 8.28% on Sunday. Following a 0.62% decline from Saturday, Ripple’s XRP ended the week up by 4.67% to $1.41371.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.56714 before hitting reverse.

Falling short of the first major resistance level at $1.6802, Ripple’s XRP slid to an early morning intraday low $1.15000.

Ripple’s XRP slid through the day’s major support levels before finding support.

More significantly, Ripple’s XRP also fell through the 23.6% FIB of $1.5426 and the 38.2% FIB of $1.2807.

Steering clear of sub-$1.00 levels, Ripple’s XRP bounced back to end the day at $1.41 levels.

The partial recovery had seen Ripple’s XRP break back through the third major support level at $1.1848 and the second major support level at $1.3960.

Ripple’s XRP also broke back through the 38.2% FIB of $1.2807.

At the time of writing, Ripple’s XRP was down by 2.29% to $1.38138. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.43776 before falling to a low $1.36000.

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 back through the $1.3770 pivot level to bring the first major resistance level at $1.6039 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through the 23.6% FIB of $1.5426.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.80 levels before any pullback. The second major resistance level sits at $1.7941.

Failure to avoid a fall back through the $1.3770 pivot would bring the 38.2% FIB of $1.2807 and the first major support level at $1.1868 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level sits at $0.9598.

Looking at the Technical Indicators

First Major Support Level: $1.1868

Pivot Level: $1.3770

First Major resistance Level: $1.6039

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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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