Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 9th, 2021

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Ethereum

Ethereum rose by 5.93% on Thursday. Partially reversing a 7.06% slide from Wednesday, Ethereum ended the day at $2,081.29.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,949.34 before making a move.

Steering clear of the first major support level at $1,886, Ethereum rallied to a late intraday high $2,084.54.

Coming in range of the first major resistance level at $2,086, Ethereum eased back to end the day at $2,081 levels.

At the time of writing, Ethereum was up by 0.18% to $2,085.02. A mixed start to the day saw Ethereum fall to an early morning low $2,078.35 before rising to a high $2.088.18.

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

For the day ahead

Ethereum would need to avoid the pivot level at $2,038 to support a run at the first major resistance level at $2,127.

Support from the broader market would be needed, however, for Ethereum to break out from this morning’s high $2,088.18.

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 $2,200 before any pullback. The second major resistance level sits at $2,174.

Failure to avoid a fall through the $2,038 pivot would bring the first major support level at $1,992 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,903.

Looking at the Technical Indicators

First Major Support Level: $1,992

Pivot Level: $2,038

First Major Resistance Level: $2,127

23.6% FIB Retracement Level: $1,662

38.2% FIB Retracement Level: $1,360

62% FIB Retracement Level: $872

Litecoin

Litecoin rose by 3.21% on Thursday. Partially reversing Wednesday’s 7.68% slide, Litecoin ended the day at $226.24.

A mixed start to the day saw Litecoin rise to a late morning high $227.48 before hitting reverse.

Falling short of the first major resistance level at $238, Litecoin fell to late morning intraday low $217.00.

Steering clear of the first major support level at $206, Litecoin struck a late intraday high $228.00 before easing back.

At the time of writing, Litecoin was up by 0.32% to $226.97. A bullish start to the day saw Litecoin rise from an early morning low $226.04 to a high $227.96.

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

For the day ahead

Litecoin would need to avoid a fall through the $224 pivot level to support a run at the first major resistance level at $231.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $228.00.

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 $240 before any pullback. The second major resistance level sits at $235.

Failure to avoid the $224 pivot level would bring the first major support level at $220 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$210 support levels. The second major support level at $213 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $220

Pivot Level: $224

First Major Resistance Level: $231

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP surged by 15.89% on Thursday. Reversing most of a 16.64% tumble from Wednesday, Ripple’s XRP ended the day at $1.06262.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.90155 before making a move.

Steering clear of the first major support level at $0.8093, Ripple’s XRP rallied to a late intraday high $1.07202.

Ripple’s XRP broke through the first major resistance level at $1.0655 before easing back to sub-$1.065 levels.

At the time of writing, Ripple’s XRP was down by 0.75% to $1.05466. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.06093 before falling to a low $1.04164.

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

For the day ahead

Ripple’s XRP will need to avoid the $1.0121 pivot level to bring the first major resistance level at $1.1226 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s new swing hi $1.1196.

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

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1825.

A fall through the $1.0121 pivot would bring the first major resistance level at $0.9521 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.8416. The 23.6% FIB of $0.8960 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.9521

Pivot Level: $1.0121

First Major resistance Level: $1.1226

23.6% FIB Retracement Level: $0.8960

38.2% FIB Retracement Level: $0.7577

62% FIB Retracement Level: $0.5340

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

Thanks, Bob

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