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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 20th, 2021

By:
Bob Mason
Updated: Apr 20, 2021, 00:59 UTC

It's a bearish start to the day for the majors. Failure to move through the day's pivot levels would leave support levels in play.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum fell by 3.47% on Monday. Following on from a 3.35% decline on Sunday, Ethereum ended the day at $2,163.82.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,282.60 before hitting reverse.

Falling short of the first major resistance level at $2,388, Ethereum slid to a mid-afternoon intraday low $2,050.00.

Finding support at the first major support level at $2,047, Ethereum briefly revisited $2,200 levels before easing back.

At the time of writing, Ethereum was down by 0.52% to $2,152.47. A mixed start to the day saw Ethereum rise to an early morning high $2,179.94 before falling to a low $2,139.57.

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

ETHUSD 200421 Hourly Chart

For the day ahead

Ethereum would need to move back through the pivot level at $2,166 to support a run at the first major resistance level at $2,281.

Support from the broader market would be needed, however, for Ethereum to break out from $2,250 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2,286.06 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,400 before any pullback. The second major resistance level sits at $2,398.

Failure to move back through the $2,166 pivot would bring the first major support level at $2,048 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,933. The 38.2% FIB of $1,966 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,048

Pivot Level: $2,166

First Major Resistance Level: $2,281

23.6% FIB Retracement Level: $1,966

38.2% FIB Retracement Level: $1,606

62% FIB Retracement Level: $1,023

Litecoin

Litecoin fell by 4.59% on Monday. Following on from an 8.92% slide on Sunday, Litecoin ended the day at $261.56.

A mixed start to the day saw Litecoin rise to an early morning high $283.69 before hitting reverse.

Falling short of the first major resistance level at $306, Litecoin slid to a late afternoon intraday low $249.06.

While steering clear of the first major support level at $242, Litecoin fell through the 23.6% FIB of $262.

Finding late support, Litecoin broke back through the 23.6% FIB to revisit $273 levels before easing back to sub-$262 levels.

At the time of writing, Litecoin was down by 1.23% to $258.35. A mixed start to the day saw Litecoin rise to an early morning high $264.37 before falling to a low $255.00.

While Litecoin left the major support and resistance levels untested early on, Litecoin fell through the 23.6% FIB of $262.

LTCUSD 200421 Hourly Chart

For the day ahead

Litecoin would need to move through the 23.6% FIB and the $265 pivot level to support a run at the first major resistance level at $281.

Support from the broader market would be needed, however, for Litecoin to break out from $275 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $283.69 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $300 before any pullback. The second major resistance level sits at $299.

Failure to move through the 23.6% FIB and the $265 pivot would bring the first major support level at $246 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level sits at $230.

Looking at the Technical Indicators

First Major Support Level: $246

Pivot Level: $265

First Major Resistance Level: $281

23.6% FIB Retracement Level: $250

38.2% FIB Retracement Level: $207

62% FIB Retracement Level: $138

Ripple’s XRP

Ripple’s XRP fell by 7.70% on Monday. Following on from an 8.28% slide on Sunday, Ripple’s XRP ended the day at $1.31032.

A mixed start to the day saw Ripple’s XRP rise to a mid-morning intraday high $1.53250 before hitting reverse.

Falling short of the 23.6% FIB of $1.5426 and the first major resistance level at $1.6039, Ripple’s XRP slid to an early afternoon intraday low $1.25329.

While steering clear of the first major support level at $1.1868, Ripple’s XRP fell through the 38.2% FIB of $1.2807.

Finding late support, however, Ripple’s XRP broke back through the 38.2% FIB to revisit $1.39 levels before easing back.

At the time of writing, Ripple’s XRP was down by 1.69% to $1.28823. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.32486 before falling to a low $1.27000.

While leaving the major support and resistance levels untested, Ripple’s XRP briefly fell through the 38.2% FIB of $1.2807.

XRPUSD 200421 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $1.3654 pivot level to bring the first major resistance level at $1.4775 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.45 levels.

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $1.5426 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.60 levels before any pullback. The second major resistance level sits at $1.6446.

Failure to move through the $1.3654 pivot would bring the 38.2% FIB of $1.2807 and the first major support level at $1.1982 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level at $1.0862 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.1982

Pivot Level: $1.3654

First Major resistance Level: $1.4775

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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