Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 2nd, 2021

Ethereum

Ethereum rose by 2.52% on Thursday. Following on from a 4.29% gain on Wednesday, Ethereum ended the day at $1,968.38.

A mixed start to the day saw Ethereum rise to a late morning high $1,966.0 before hitting reverse.

Falling short of the major resistance levels, Ethereum slid to a late afternoon intraday low $1,886.11 before making a move.

Steering clear of the first major support level at $1,812 Ethereum rallied to a late intraday high $1,982.21.

Ethereum came within range of the first major resistance level at $1,988 before easing back.

At the time of writing, Ethereum was down by 0.32% to $1,962.01. A mixed start to the day saw Ethereum rise to an early morning high $1,972.00 before falling to a low $1,955.00.

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 $1,946 to support a run at the first major resistance level at $2,005.

Support from the broader market would be needed, however, for Ethereum to break through to $2,000 levels.

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 $2,100 before any pullback. The second major resistance level sits at $2,042.

Failure to avoid a fall through the $1,946 pivot would bring the first major support level at $1,909 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level at $1,850 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,909

Pivot Level: $1,946

First Major Resistance Level: $2,005

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 2.93% on Thursday. Following on from a 0.58% gain on Wednesday, Litecoin ended the day at $202.67.

A mixed start to the day saw Litecoin fall to a mid-morning intraday low $194.14 before making a move.

The morning pullback saw Litecoin fall through the 23.6% FIB of $195 before striking a mid-afternoon intraday high $204.95.

Litecoin broke through the first major resistance level at $202 before a slide back to $196 levels.

Steering clear of the 23.6% FIB, Litecoin bounced back to end the day at $202 levels.

At the time of writing, Litecoin was up by 0.29% to $203.26. A mixed start to the day saw Litecoin fall to an early morning low $201.62 before rising to a high $203.74.

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

For the day ahead

Litecoin would need to avoid a fall through the $201 pivot level to support a run at the first major resistance level at $207.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $204.95.

Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $211.

Failure to avoid a fall through the $201 pivot level would bring the first major support level at $196 and the 23.6% FIB of $195 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level at $190 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $196

Pivot Level: $201

First Major Resistance Level: $207

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slipped by 0.04% on Thursday. Partially reversing a 1.14% gain from Wednesday, Ripple’s XRP ended the day at $0.57008.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.59411 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.5900 before sliding to an early afternoon intraday low $0.54864.

Steering clear of the first major support level at $0.5390, Ripple’s XRP recovered to $0.57 levels to limit the downside.

At the time of writing, Ripple’s XRP was down by 0.27% to $0.56856. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.57270 before falling to a low $0.56828.

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

For the day ahead

Ripple’s XRP will need to move back through the $0.5709 pivot level to bring the first major resistance level at $0.5932 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.59 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.59411 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.62 levels before any pullback. The second major resistance level sits at $0.0.6164.

Failure to move back through the $0.5709 pivot would bring the first major support level at $0.5478 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the 23.6% FIB of $0.5320. The second major support level sits at $0.5255.

Looking at the Technical Indicators

First Major Support Level: $0.5478

Pivot Level: $0.5709

First Major resistance Level: $0.5932

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