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

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.