Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 7th, 2021

Ethereum

Ethereum rose by 0.26% on Tuesday. Following a 1.48% gain on Monday, Ethereum ended the day at $2,113.00.

A bullish start to the day saw Ethereum rise to an early morning intraday high and a new swing hi $2,151.00 before hitting reverse.

Coming within range of the first major resistance level at $2,158, Ethereum fell to an early afternoon intraday low $2,046.08.

Steering clear of the first major support level at $2,030, Ethereum revisited $2,130 levels before easing back.

At the time of writing, Ethereum was up by 0.61% to $2,125.85. A mixed start to the day saw Ethereum fall to an early morning low $2,109.39 before rising to a high $2,125.85.

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 $2,103 to support a run at the first major resistance level at $2,161.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s new swing hi $2,151.00.

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 $2,200 before any pullback. The second major resistance level sits at $2,208.

Failure to avoid a fall through the $2,103 pivot would bring the first major support level at $2,056 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,998.

Looking at the Technical Indicators

First Major Support Level: $2,056

Pivot Level: $2,103

First Major Resistance Level: $2,161

23.6% FIB Retracement Level: $1,662

38.2% FIB Retracement Level: $1,360

62% FIB Retracement Level: $872

Litecoin

Litecoin rose by 7.08% on Tuesday. Following on from a 9.48% rally on Monday, Litecoin ended the day at $237.09.

A mixed start to the day saw Litecoin rise to an early morning high $227.58 before hitting reverse.

Falling short of the first major resistance level at $232, Litecoin slid to an early afternoon intraday low $213.00.

Story continues

Steering clear of the first major support level at $205, Litecoin bounced back to strike a late afternoon intraday high $244.54.

Litecoin broke through the first major resistance level at $232 and the second major resistance level at $242.

Coming within range of February’s swing hi $247.00, Litecoin eased back to end the day at sub-$240.

At the time of writing, Litecoin was up by 2.06% to $241.98. A bullish start to the day saw Litecoin rise from an early morning low $237.05 to a high $242.00.

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

For the day ahead

Litecoin would need to avoid a fall through the $232 pivot level to support a run at the first major resistance level at $250.

Support from the broader market would be needed, however, for Litecoin to break out from February’s swing hi $247.00.

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

In the event of an extended rally, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $263.

Failure to avoid a fall through the $232 pivot level would bring the first major support level at $219 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level at $200 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $219

Pivot Level: $232

First Major Resistance Level: $250

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 19.75% on Tuesday. Following Monday’s 44.06% surge, Ripple’s XRP ended the day at $1.0970.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.80542 before making a move.

Steering clear of the 23.6% FIB of $0.7584 and the first major support level at $0.7098, Ripple’s XRP surged to a late morning high and a new swing hi $1.09888.

Ripple’s XRP broke through the first major resistance level at $1.0292 before sliding back to sub-$0.90 levels.

Finding late support, however, Ripple’s XRP broke back through the first major resistance level to strike a new swing hi $1.1196.

Falling short of the second major resistance level at $1.1440, Ripple’s XRP eased back to end the day at sub-$1.10 levels.

At the time of writing, Ripple’s XRP was down by 2.24% to $1.0725. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.1114 before falling to a low $1.0496.

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 through the $1.0073 pivot level to bring the first major resistance level at $1.2093 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s new swing hi $1.1196.

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 $1.30 levels before any pullback. The second major resistance level sits at $1.3215.

Failure to avoid a fall through the $1.0073 pivot would bring the 23.6% FIB of $0.8960 and the first major resistance level at $0.8951 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer well clear of the 38.2% FIB of $0.7577. The second major support level sits at $0.6932.

Looking at the Technical Indicators

First Major Support Level: $0.8951

Pivot Level: $1.0073

First Major resistance Level: $1.2093

23.6% FIB Retracement Level: $0.8960

38.2% FIB Retracement Level: $0.7577

62% FIB Retracement Level: $0.5340

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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