Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 5th, 2021

Ethereum

Ethereum rose by 3.35% on Sunday. Partially reversing a 5.86% slide from Saturday, Ethereum ended the week up by 23.09% to $2,076.36.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,980.00 before making a move.

Steering clear of the first major support level at $1,960, Ethereum rallied to a mid-afternoon intraday high $2,093.07.

Coming within range of the first major resistance level at $2,099, Ethereum slipped back to $2,050 levels before ending the day at $2,076 levels.

At the time of writing, Ethereum was down by 0.14% to $2,073.46. A mixed start to the day saw Ethereum rise to an early morning high $2,085.23 before falling to a low $2,072.02.

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 $2,050 to support a run at the first major resistance level at $2,120.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,093.07.

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 $2,163.

Failure to avoid a fall through the $2,050 pivot would bring the first major support level at $2,007 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,900 levels. The second major support level at $1,937 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,007

Pivot Level: $2,050

First Major Resistance Level: $2,120

23.6% FIB Retracement Level: $1,659

38.2% FIB Retracement Level: $1,356

62% FIB Retracement Level: $869

Litecoin

Litecoin rose by 3.58% on Sunday. Partially reversing a 7.6% slide from Saturday, Litecoin ended the week up by 9.78% to $202.26.

A mixed start to the day saw Litecoin fall to an early morning intraday low $191.90 before making a move.

While steering clear of the first major support level at $188, Litecoin fell through the 23.6% FIB of $195.

Finding early support, however, Litecoin struck an early afternoon intraday high $204.74.

While breaking back through the 23.6% FIB, Litecoin fell short of the first major resistance level at $210.

A late pullback saw Litecoin fall back to sub-$200 levels before ending the day at $202 levels.

At the time of writing, Litecoin was up by 0.42% to $203.11. A bullish start to the day saw Litecoin rise from an early morning low $202.26 to a high $203.40.

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

For the day ahead

Litecoin would need to avoid a fall through the $200 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 Sunday’s high $204.74.

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 $213.

Failure to avoid a fall through the $200 pivot level would bring the first major support level at $195 and the 23.6% FIB of $195 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $187.

Looking at the Technical Indicators

First Major Support Level: $195

Pivot Level: $200

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 rallied by 9.69% on Sunday. Reversing a 4.53% fall from Saturday, Ripple’s XRP ended the week up by 16.11% to $0.63465.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.56743 before making a move.

Steering clear of the first major support level at $0.5550, Ripple’s XRP rallied to a final hour intraday high $0.63534.

Ripple’s XRP broke through the first major resistance level at $0.6230 to wrap up the day at $0.635 levels.

At the time of writing, Ripple’s XRP was down by 0.63% to $0.63063. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.63750 before falling to a low $0.63011.

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 $0.6125 pivot level to bring the first major resistance level at $0.6575 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.65 levels.

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 $0.70 levels before any pullback. The second major resistance level sits at $0.6804.

Failure to avoid a fall through the $0.6125 pivot would bring the first major support level at $0.5896 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.55 levels. The second major support level sits at $0.5446.

Looking at the Technical Indicators

First Major Support Level: $0.5896

Pivot Level: $0.6125

First Major resistance Level: $0.6575

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