Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 13th, 2021

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Ethereum

Ethereum fell by 3.22% on Friday. Reversing a 1.75% gain from Thursday, Ethereum ended the day at $1,767.79.

A mixed start to the day saw Ethereum rise to an early morning high $1,841.96 before hitting reverse.

Falling short of the first major resistance level at $1,874, Ethereum slid to an early afternoon intraday low $1,721.15.

The sell-off saw Ethereum fall through the first major support level at $1,752 before finding support.

Steering clear of sub-$1,700 levels, Ethereum revisited $1,780 levels before easing back.

At the time of writing, Ethereum was down by 1.24% to $1,745.92. A mixed start to the day saw Ethereum rise to an early morning high $1,768.82 before falling to a low $1,745.47.

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

For the day ahead

Ethereum would need to move through the pivot level at $1,777 to support a run at the first major resistance level at $1,833.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,800 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $1,841.96 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,900 before any pullback. The second major resistance level sits at $1,898.

Failure to move through the $1,777 pivot would bring the first major support level at $1,712 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,650 levels. The second major support level at $1,656 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,712

Pivot Level: $1,777

First Major Resistance Level: $1,833

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rallied by 9.61% on Friday. Following a 0.57% gain on Thursday, Litecoin ended the day at $220.84.

A mixed start to the day saw Litecoin rise to a late morning high $215.10 before hitting reverse.

Litecoin broke through the first major resistance level at $206 and the second major resistance level at $211.

The reversal saw Litecoin slide to an early afternoon intraday low $198.67 before finding support.

Steering clear of the 23.6% FIB of $195 and the first major support level at $194, Litecoin rallied to a late intraday high $224.33.

Litecoin broke through the day’s major resistance levels before falling back through the third major resistance level at $223.

At the time of writing, Litecoin was down by 1.23% to $218.12. A mixed start to the day saw Litecoin rise to an early morning high $221.37 before falling to a low $217.70.

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

For the day ahead

Litecoin would need to avoid a fall through the $215 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 Friday’s high $224.33.

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 $245 before any pullback. The second major resistance level sits at $240.

Failure to avoid a fall through the $215 pivot level would bring the first major support level at $205 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $189. The 23.6% FIB of $195 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $205

Pivot Level: $215

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 fell by 2.80% on Friday. Following on from a 2.06% decline on Thursday, Ripple’s XRP ended the day at $0.43941.

A mixed start saw Ripple’s XRP rise to an early morning intraday high $0.46441 before hitting reverse.

Ripple’s XRP broke through the 38.2% FIB of $0.4632 and the first major resistance level at $0.4636.

The reversal saw Ripple’s XRP slide to an early afternoon intraday low $0.42330. Ripple’s XRP fell through the first major support level at $0.4408 and the second major support level at $0.4295.

Finding early afternoon support on, Ripple’s XRP revisited $0.448 levels before a second pullback.

Ripple’s XRP fell back through the first major support level at $0.4408 to end the day at sub-$0.44 levels.

At the time of writing, Ripple’s XRP was down by 0.79% to $0.43595. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.43843 before falling to a low $0.43500.

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 $0.4424 pivot level to bring the first major resistance level at $0.4614 and the 38.2% FIB of $0.4632 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.46 levels.

Barring an extended crypto rally, the first major resistance level and 38.2% FIB would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.48 before any pullback. The second major resistance level sits at $0.4835.

Failure to move through the $0.4424 pivot would bring the first major support level at $0.4203 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.40 levels. The second major support level at $0.4013 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4203

Pivot Level: $0.4424

First Major resistance Level: $0.4614

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

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

Thanks, Bob

This article was originally posted on FX Empire

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