Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 16th, 2021

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For the day ahead

Litecoin would need to avoid a fall through the $281 pivot level to support a run at the first major resistance level at $296.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s swing hi $291.25.

Barring an extended crypto rally, the first major resistance level and resistance at $300 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $315 before any pullback. The second major resistance level sits at $306.

Failure to avoid a fall through the $281 pivot level would bring the first major support level at $271 into play.

Barring an extended sell-off, Litecoin should steer well clear of the second major support level at $256.

Looking at the Technical Indicators

First Major Support Level: $271

Pivot Level: $281

First Major Resistance Level: $296

23.6% FIB Retracement Level: $229

38.2% FIB Retracement Level: $190

62% FIB Retracement Level: $127

Ripple’s XRP

Ripple’s XRP slid by 4.17% on Thursday. Reversing a 2.30% rise from Wednesday, Ripple’s XRP ended the day at $1.75937.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.88353 before hitting reverse.

Falling short of the first major resistance level at $2.0210, Ripple’s XRP slid to a late morning intraday low $1.65261.

Steering clear of the first major support level at $1.6004, Ripple’s XRP revisited $1.84 levels before falling back into the red.

At the time of writing, Ripple’s XRP was up by 0.51% to $1.76836. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.75953 to a high $1.78119.

Ripple’s XRP left the major support and resistance levels untested early on.

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