Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 10th, 2021

Ethereum

Ethereum fell by 0.73% on Friday. Partially reversing a 5.93% gain from Thursday, Ethereum ended the day at $2,066.03.

A mixed start to the day saw Ethereum rise to a late morning intraday high $2,100.00 before hitting reverse.

Falling short of the first major resistance level at $2,127, Ethereum fell to a late afternoon intraday low $2,048.41.

Steering clear of the first major support level at $1,992, Ethereum found support to end the day at $2,060 levels.

At the time of writing, Ethereum was down by 0.16% to $2,062.72. A mixed start to the day saw Ethereum rise to an early morning high $2,067.66 before falling to a low $2,060.00.

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 $2,072 to support a run at the first major resistance level at $2,095.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,090 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $2,100 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,150 before any pullback. The second major resistance level sits at $2,123.

Failure to move through the $2,072 pivot would bring the first major support level at $2,043 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,020 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,043

Pivot Level: $2,072

First Major Resistance Level: $2,095

23.6% FIB Retracement Level: $1,662

38.2% FIB Retracement Level: $1,360

62% FIB Retracement Level: $872

Litecoin

Litecoin fell by 2.25% on Friday. Reversing most of a 3.21% gain from Thursday, Litecoin ended the day at $221.07.

A bullish start to the day saw Litecoin rise to an early morning intraday high $228.96 before hitting reverse.

Falling short of the first major resistance level at $231, Litecoin fell to late intraday low $218.84.

Litecoin fell through the first major support level at $220 before a move back through to $221 levels.

At the time of writing, Litecoin was down by 0.19% to $220.64. A mixed start to the day saw Litecoin rise to an early morning high $221.47 before falling to a low $220.57.

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

For the day ahead

Litecoin would need to move through the $223 pivot level to support a run at the first major resistance level at $227.

Support from the broader market would be needed, however, for Litecoin to break out from $225 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $228.96 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 $233.

Failure to move through the $223 pivot level would bring the first major support level at $217 into play.

Barring another extended sell-off, Litecoin should continue to 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: $217

Pivot Level: $223

First Major Resistance Level: $227

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 3.66% on Friday. Partially reversing Thursday’s 15.89% breakout, Ripple’s XRP ended the day at $1.01837.

A mixed start to the day saw Ripple’s XRP fall to an early afternoon intraday low $0.98012 before making a move.

Steering clear of the first major support level at $0.9521, Ripple’s XRP rallied to a late intraday high $1.08327.

Falling short of the first major resistance level at $1.1226, Ripple’s XRP fell back to end the day at sub-$1.02 levels.

At the time of writing, Ripple’s XRP was down by 0.45% to $1.01379. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.02255 before falling to a low $1.00568.

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 $1.0273 pivot level to bring the first major resistance level at $1.0744 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.07 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $1.08327 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 $1.1304.

Failure to move through the $1.0273 pivot would bring the first major resistance level at $0.9712 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.95 levels. The second major support level sits at $0.9241.

Looking at the Technical Indicators

First Major Support Level: $0.9712

Pivot Level: $1.0273

First Major resistance Level: $1.0744

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

This article was originally posted on FX Empire

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