Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 17th, 2021

Ethereum

Ethereum fell by 3.59% on Friday. Reversing a 3.49% gain from Thursday, Ethereum ended the day at $2,426.64.

A mixed start to the day saw Ethereum rise to an early morning intraday high and a new swing hi $2,548.00 before hitting reverse.

Falling short of the first major resistance level at $2,576, Ethereum slid to an early afternoon intraday low $2,307.21.

The extended sell-off saw Ethereum fall through the first major support level at $2,430 and the second major support level at $2,343.

Steering clear of sub-$2,300 levels, Ethereum broke back through the major support levels before a late pullback.

The pullback saw Ethereum fall back through the first major support level to end the day at $2,426 levels.

At the time of writing, Ethereum was up by 1.40% to $2,460.53. A bullish start to the day saw Ethereum rise from an early morning low $2,426.63 to a high $2,460.53.

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

For the day ahead

Ethereum would need to avoid a fall back through the pivot level at $2,427 to support a run at the first major resistance level at $2,547.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s new swing hi $2,548.00 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,700 before any pullback. The second major resistance level sits at $2,668.

Failure to avoid a fall back through the $2,427 pivot would bring the first major support level at $2,307 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level sits at $2,187.

Looking at the Technical Indicators

First Major Support Level: $2,307

Pivot Level: $2,427

First Major Resistance Level: $2,547

23.6% FIB Retracement Level: $1,976

38.2% FIB Retracement Level: $1,606

62% FIB Retracement Level: $1,023

Litecoin

Litecoin rallied by 7.89% on Friday. Following on from a 2.67% gain from Thursday, Litecoin ended the day at $308.75.

A mixed start to the day saw Litecoin rise to an early morning high $297.00 before hitting reverse.

Litecoin broke through the first major resistance level at $296 before sliding to an early afternoon intraday low $266.34.

The sell-off saw Litecoin fall through the first major support level at $271 before rallying to a late intraday high and a new swing hi $319.94.

Litecoin broke back through the first major resistance level and broke through the second major resistance level at $306.

A late pullback, however, saw Litecoin briefly fall back through the second major resistance level before wrapping up the day at $308 levels.

At the time of writing, Litecoin was up by 2.98% to $317.94. A bullish start to the day saw Litecoin rally from an early morning low $308.76 to a high $318.67.

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

For the day ahead

Litecoin would need to avoid a fall through the $298 pivot level to support a run at the first major resistance level at $330.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s swing hi $319.94.

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 $350 before any pullback. The second major resistance level sits at $352.

Failure to avoid a fall through the $298 pivot level would bring the first major support level at $277 into play.

Barring an extended sell-off, Litecoin should steer clear of the 23.6% FIB of $250. The second major support level sits at $245.

Looking at the Technical Indicators

First Major Support Level: $277

Pivot Level: $298

First Major Resistance Level: $330

23.6% FIB Retracement Level: $250

38.2% FIB Retracement Level: $207

62% FIB Retracement Level: $138

Ripple’s XRP

Ripple’s XRP slid by 11.92% on Friday. Following on from a 4.17% decline on Thursday, Ripple’s XRP ended the day at $1.54981.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.80892 before hitting reverse.

Falling short of the first major resistance level at $1.8777, Ripple’s XRP slid to a late morning intraday low $1.42051.

Ripple’s XRP fell through the first major support level at $1.6468 and the second major support level at $1.5343.

Steering clear of sub-$1.40 levels, Ripple’s XRP revisited $1.75 levels before falling back into the deep red.

The sell-off saw Ripple’s XRP fall back through the first major support level to end the day at sub-$1.60 levels.

At the time of writing, Ripple’s XRP was up by 0.86% to $1.56312. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.5390 before rising to a high $1.56443.

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 $1.5931 pivot level to bring the first major resistance level at $1.7657 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.75 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $1.80 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $2.00 levels before any pullback. The second major resistance level sits at $1.9815.

Failure to move through the $1.5941 pivot would bring the 23.6% FIB of $1.5426 and the first major support level at $1.3772 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.30 levels. The second major support level sits at $1.2047.

Looking at the Technical Indicators

First Major Support Level: $1.3772

Pivot Level: $1.5931

First Major resistance Level: $1.7657

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

Please let us know what you think in the comments below.

Thanks, Bob