Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 12th, 2021

Ethereum

Ethereum rose by 1.75% on Thursday. Partially reversing a 4.09% slide from Wednesday, Ethereum ended the day at $1,827.04.

A mixed start to the day saw Ethereum rise to an early morning high $1,815.22 before hitting reverse.

Falling short of the first major resistance level at $1,864, Ethereum fell to a late morning intraday low $1,725.00.

The sell-off saw Ethereum fall through the first major support level at $1,741 before finding support.

Steering clear of sub-$1,700 levels, Ethereum rallied to a late intraday high $1,847.00.

Continuing to fall short of the first major resistance level at $1,864, Ethereum eased back to end the day at sub-$1,830 levels.

At the time of writing, Ethereum was down by 0.12% to $1,824.91. A mixed start to the day saw Ethereum rise to an early morning high $1,841.96 before falling to a low $1,821.33.

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 $1,800 to support a run at the first major resistance level at $1,874.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $1,847.00.

Barring an extended crypto rally, the first major resistance level and resistance at $1,900 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,950 before any pullback. The second major resistance level sits at $1,922.

Failure to avoid a fall through the $1,800 pivot would bring the first major support level at $1,752 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,678.

Looking at the Technical Indicators

First Major Support Level: $1,752

Pivot Level: $1,800

First Major Resistance Level: $1,874

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 0.57% on Thursday. Partially reversing a 1.86% decline from Wednesday, Litecoin ended the day at $201.47.

A mixed start to the day saw Litecoin rise to an early morning high $202.23 before hitting reverse.

Falling short of the first major resistance level at $208, Litecoin fell to a late morning intraday low $191.08.

The morning sell-off saw Litecoin fall through the 23.6% FIB of $195 and the first major support level at $191.64.

Steering clear of sub-$190, Litecoin rallied to a final hour intraday high $203.45 before easing back to $201 levels.

While breaking back through the first major support level and 23.6% FIB, Litecoin came up short of the first major resistance level at $208.

At the time of writing, Litecoin was down by 0.10% to $201.27. A mixed start to the day saw Litecoin rise to an early morning high $203.37 before falling to a low $200.37.

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

For the day ahead

Litecoin would need to avoid a fall through the $199 pivot level to support a run at the first major resistance level at $206.

Support from the broader market would be needed, however, for Litecoin to break out from $205 levels.

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 $215 before any pullback. The second major resistance level sits at $211.

Failure to avoid a fall through the $199 pivot level would bring 23.6% FIB of $195 and the first major support level at $194 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level sits at $186.

Looking at the Technical Indicators

First Major Support Level: $194

Pivot Level: $199

First Major Resistance Level: $206

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 2.06% on Thursday. Following a 4.77% slide on Wednesday, Ripple’s XRP ended the day at $0.45208.

It was another choppy day. Ripple’s XRP rose to an early morning intraday high $0.46384 before hitting reverse.

While falling short of the first major resistance level at $0.4823, Ripple’s XRP broke through the 38.2% FIB of $0.4632.

The reversal saw Ripple’s XRP slide to a late morning intraday low $0.44100. Ripple’s XRP fell through the first major support level at $0.4488.

Finding late morning support, Ripple’s XRP revisited $0.458 levels before easing back.

The first major support level at $0.4488 was tested for a 2^nd time late in the day before a recovery to $0.45 levels.

At the time of writing, Ripple’s XRP was down by 0.59% to $0.44940. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.45353 before falling to a low $0.44916.

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 $0.4523 pivot level to bring the 38.2% FIB and the first major resistance level at $0.4636 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.46 levels.

Barring an extended crypto rally, the first major resistance level and 38.2% FIB would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.48 before any pullback. The second major resistance level sits at $0.4751.

Failure to move through the $0.4523 pivot would bring the first major support level at $0.4408 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.42 levels. The second major support level at $0.4295 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4408

Pivot Level: $0.4523

First Major resistance Level: $0.4636

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