Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 22nd, 2021

Ethereum

Ethereum rose by 1.07% on Wednesday. Following on from a 7.81% rally on Tuesday, Ethereum ended the day at $2,357.21.

A bearish start to the day saw Ethereum fall to a late morning intraday low $2,237.02 before making a move.

Steering clear of the first major support level at $2,141, Ethereum rallied to a late afternoon intraday high $2,471.72.

Ethereum broke through the first major resistance level at $2,437 before easing back to end the day at sub-$2,400 levels.

At the time of writing, Ethereum was down by 0.43% to $2,347.01. A mixed start to the day saw Ethereum rise to an early morning high $2,379.26 before falling to a low $2,317.25.

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

For the day ahead

Ethereum would need to move back through the pivot level at $2,355 to support a run at the first major resistance level at $2,474.

Support from the broader market would be needed, however, for Ethereum to break out from $2,450 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2,471.72 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 and resistance at $2,600. The second major resistance level sits at $2,590.

Failure to move back through the $2,355 pivot would bring the first major support level at $2,239 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $1,966. The second major support level at $2,121 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,239

Pivot Level: $2,355

First Major Resistance Level: $2,474

23.6% FIB Retracement Level: $1,966

38.2% FIB Retracement Level: $1,606

62% FIB Retracement Level: $1,023

Litecoin

Litecoin fell by 1.18% on Wednesday. Following a 0.26% decline from Tuesday, Litecoin ended the day at $257.78.

A mixed start to the day saw Litecoin fall to a late morning intraday low $251.17 before making a move.

Story continues

Steering clear of the first major support level at $238, Litecoin rallied to a late afternoon intraday high $276.97.

While falling short of the first major resistance level at $280, 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 sub-$260 levels.

At the time of writing, Litecoin was down by 0.66% to $256.09. A mixed start to the day saw Litecoin rise to an early morning high $260.89 before falling to a low $252.45.

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

For the day ahead

Litecoin would need to move through the $262 pivot level and the 23.6% FIB of $262 to support a run at the first major resistance level at $273.

Support from the broader market would be needed, however, for Litecoin to break back through to $270 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $276.97 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $300. The second major resistance level sits at $288.

Failure to move through the $262 pivot level and the 23.6% FIB of $262 would bring the first major support level at $247 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $236.

Looking at the Technical Indicators

First Major Support Level: $247

Pivot Level: $262

First Major Resistance Level: $273

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 6.95% on Wednesday. Reversing a 5.76% gain from Tuesday, Ripple’s XRP ended the day at $1.29017.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $1.46406 before hitting reverse.

Falling short of the first major resistance level at $1.4980, Ripple’s XRP slid to a late morning intraday low $1.28153.

Steering clear of the 38.2% FIB of $1.2807 and the first major support level at $1.2235, Ripple’s XRP revisited $1.41 levels before falling back into the deep red.

At the time of writing, Ripple’s XRP was up by 0.44% to $1.29580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.26656 before rising to a high $1.30498.

While leaving the major support and resistance levels untested early on, Ripple’s XRP briefly fell through the 38.2% FIB of $1.2807.

For the day ahead

Ripple’s XRP will need to move through the $1.3453 pivot level to bring the first major resistance level at $1.4090 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.40 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $1.46406 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at the 23.6% FIB of $1.5426. The second major resistance level sits at $1.5278.

Failure to move through the $1.3453 pivot would bring the 38.2% FIB of $1.2807 and the first major support level at $1.2264 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.20 levels. The second major support level sits at $1.1627.

Looking at the Technical Indicators

First Major Support Level: $1.2264

Pivot Level: $1.3453

First Major resistance Level: $1.4090

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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