Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 26th, 2021

Ethereum

Ethereum slid by 8.78% on Thursday. Reversing a 3.01% gain from Wednesday, Ethereum ended the day at $1,482.62.

A mixed start to the day saw Ethereum rise to an early morning high $1,659.97 before hitting reverse.

Falling well short of the major resistance levels, Ethereum fell to a late morning low $1,579.70.

Finding support at the 23.6% FIB of $1,579, Ethereum struck a late intraday high $1,672.49 before a 2^nd sell-off.

Falling short of the first major resistance level at $1,726, Ethereum slid to a late intraday low $1,458.50.

Ethereum fell through the 23.6% FIB and the first major support level at $1,512 to end the day at sub-$1,500 levels.

At the time of writing, Ethereum was up by 0.75% to $1,493.80. A mixed start to the day saw Ethereum fall to an early morning low $1,464.68 before rising to a high $1,493.80

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

For the day ahead

Ethereum would need to move through the pivot level at $1,538 to support a run at the first major resistance level at $1,617.

Support from the broader market would be needed, however, for Ethereum to break out from the 23.6% FIB of $1,579.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1,672.49 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,800 before any pullback. The second major resistance level sits at $1,752.

Failure to move through the $1,538 pivot would bring the first major support level at $1,403 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,324.

Looking at the Technical Indicators

First Major Support Level: $1,403

Pivot Level: $1,538

First Major Resistance Level: $1,617

23.6% FIB Retracement Level: $1,528

38.2% FIB Retracement Level: $1,251

62% FIB Retracement Level: $804

Litecoin

Litecoin fell by 1.17% on Thursday. Partially reversing a 2.37% gain from Wednesday, Litecoin ended the day at $179.47.

Story continues

It was a bearish start to the day. Litecoin fell to a late morning intraday low $175.21 before making a move.

Steering clear of the first major support level at $170.50, Litecoin rallied to an early afternoon intraday high $205.20.

Litecoin broke through the first major resistance level at $191.30 and the second major resistance level at $200.89.

More significantly, Litecoin broke back through the 23.6% FIB of $195 before a late slide back to sub-$180 levels.

At the time of writing, Litecoin was up by 0.11% to $179.66. A mixed start to the day saw Litecoin fall to an early morning low $174.65 before rising to a high $179.82.

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

For the day ahead

Litecoin would need to move through the $186.63 pivot level to support a run at the 23.6% FIB of $195 and the first major resistance level at $198.04.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $205.20 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $216.62.

Failure to move through the $186.63 pivot level would bring the first major support level at $168.05 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $156.64. The 38.2% FIB of $163 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $168.05

Pivot Level: $186.63

First Major Resistance Level: $198.04

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slid by 6.93% on Thursday. Following a 0.38% decline on Wednesday, Ripple’s XRP ended the day at $0.43654.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.48195 before hitting reverse.

Falling short of the first major resistance level at $0.4960, Ripple’s XRP fell to a late morning low $0.45393.

Ripple’s XRP fell through the 38.2% FIB of $0.4632 before striking an early afternoon high $0.48115.

Continuing to fall short of the major resistance levels, Ripple’s XRP slid to a late intraday low $0.42524.

Ripple’s XRP fell through the 38.2% FIB and the first major support level at $0.4469 to end the day at $0.435 levels.

The late sell-off saw Ripple’s XRP come within range of the second major support level at $0.4245.

At the time of writing, Ripple’s XRP was down by 2.39% to $0.42522. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.43489 to a low $0.41674.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through the $0.4476 pivot level to bring the first major resistance level at $0.4700 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the 38.2% FIB of $0.4632.

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

In the event of an extended rally, Ripple’s XRP could test resistance at $0.50 before any pullback. The second major resistance level sits at $0.5043.

Failure to move through the $0.4476 pivot would bring the first major support level at $0.4133 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer well clear of sub-$0.40 levels. The second major support level sits at $0.3909.

Looking at the Technical Indicators

First Major Support Level: $0.4133

Pivot Level: $0.4476

First Major resistance Level: $0.4700

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

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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