Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 26th, 2021
Ethereum
Ethereum rose by 4.78% on Sunday. Partially reversing a 6.46% slide from Saturday, Ethereum ended the week up by 3.60% to $2,322.16.
Recovering from a late morning intraday low $2,166.00, Ethereum rose to mid-afternoon intraday high $2,358.22 before hitting reverse.
Ethereum broke through the first major resistance level at $2,339 before falling back to sub-$2,200 levels.
Steering clear of the first major support level at $2,126, Ethereum broke back through to $2,300 levels to end the day in the green.
At the time of writing, Ethereum was up by 0.23% to $2,327.50. A mixed start to the day saw Ethereum rise to an early morning high $2,330.91 before falling to a low $2,306.03.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the pivot level at $2,282 to support a run at the first major resistance level at $2,398.
Support from the broader market would be needed, however, for Ethereum to break out from $2,350 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 $2,500 levels. The second major resistance level sits at $2,474.
Failure to avoid the $2,282 pivot would bring the first major support level at $2,206 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,082 and the 23.6% FIB of $2,041 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,206
Pivot Level: $2,282
First Major Resistance Level: $2,398
23.6% FIB Retracement Level: $2,041
38.2% FIB Retracement Level: $1,666
62% FIB Retracement Level: $1,061
Litecoin
Litecoin fell by 0.49% on Sunday. Following a 6.80% slide from Saturday, Litecoin ended the week down by 18.24% to $224.18.
After a mixed start to the day, Litecoin rose to a late afternoon intraday high $235.86 before hitting reverse.
Falling short of the first major resistance level at $238, Litecoin slid to a late intraday low $211.07.
Litecoin fell through the first major support level at $217 and the 38.2% FIB of $217.
Steering clear of sub-$200 support levels, Litecoin broke back through the first major support level and 38.2% FIB to end the day at $224 levels.
At the time of writing, Litecoin was down by 0.56% to $222.92. A mixed start to the day saw Litecoin rise to an early morning high $224.88 before falling to a low $221.25.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $224 pivot level to support a run at the first major resistance level at $236.
Support from the broader market would be needed, however, for Litecoin to break back through to $230 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $235.86 would likely cap any upside.
In the event of a bounce back, Litecoin could test resistance at $250. The second major resistance level sits at $249.
Failure to move back through the $224 pivot level would bring the 38.2% FIB of $217 and the first major support level at $212 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$200. The second major support level sits at $199.
Looking at the Technical Indicators
First Major Support Level: $212
Pivot Level: $224
First Major Resistance Level: $236
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 1.88% on Sunday. Following a 10.23% tumble on Saturday, Ripple’s XRP ended the week down by 26.97% to $1.03246.
After a mixed start to the day, Ripple’s XRP rose to a late afternoon intraday high $1.15555 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $1.1420 before sliding to a late intraday low $0.94139.
The sell-off saw Ripple’s XRP fall through the first major support level at $0.9928.
Steering clear of sub-$0.94 support levels, Ripple’s XRP broke back through the first major support level to end the day at $1.03 levels.
At the time of writing, Ripple’s XRP was down by 1.40% to $1.0180. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.04299 before falling to a low $1.01639
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 $1.0431 pivot level to bring the first major resistance level at $1.1449 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.10 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $1.15555 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at the 38.2% FIB of $1.2807. The second major resistance level sits at $1.2573.
Failure to move through the $1.0431 pivot would bring the first major support level at $0.9307 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.8290. The 62% FIB of $0.8573 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.9307
Pivot Level: $1.4031
First Major resistance Level: $1.1449
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
