Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 12th, 2021

Ethereum

Ethereum rose by 0.82% on Sunday. Following on from a 3.22% gain from Saturday, Ethereum ended the week up by 3.58% to $2150.54.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $2,112.58 before making a move.

Steering clear of the first major support level at $2,062, Ethereum rose to a late intraday high $2,163.18.

Falling short of the first major resistance level at $2,200, Ethereum eased back to end the day at $2,150 levels.

At the time of writing, Ethereum was down by 0.16% to $2,147.20. A mixed start to the day saw Ethereum rise to an early morning high $2,160.60 before falling to a low $2,147.00.

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

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $2,142 to support a run at the first major resistance level at $2,172.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,163.18

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 $2,193.

Failure to avoid a fall through the $2,142 pivot would bring the first major support level at $2,121 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,050 levels. The second major support level at $2,092 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,121

Pivot Level: $2,142

First Major Resistance Level: $2,172

23.6% FIB Retracement Level: $1,696

38.2% FIB Retracement Level: $1,387

62% FIB Retracement Level: $888

Litecoin

Litecoin fell by 1.49% on Sunday. Partially reversing a 15.75% breakout from Saturday, Litecoin ended the week up by 24.81% to $252.44.

A bullish start to the day saw Litecoin rise to a mid-morning intraday high and a new swing hi $262.98 before hitting reverse.

Falling short of the first major resistance level at $269, Litecoin fell to a late afternoon intraday low $244.48.

Steering clear of the first major support level at $231, Litecoin moved back through to $252 levels to limit the loss on the day.

At the time of writing, Litecoin was down by 0.23% to $251.86. A mixed start to the day saw Litecoin rise to an early morning high $254.96 before falling to a low $251.72.

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

For the day ahead

Litecoin would need to move through the $255 pivot level to support a run at the first major resistance level at $261.

Support from the broader market would be needed, however, for Litecoin to break back through to $260 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $262.98 would likely cap any upside.

In the event of an extended rally, Litecoin could test the second major resistance level at $270.

Failure to move through the $255 pivot level would bring the first major support level at $246 into play.

Barring an extended sell-off, Litecoin should continue to steer well clear of the second major support level at $240.

Looking at the Technical Indicators

First Major Support Level: $246

Pivot Level: $255

First Major Resistance Level: $261

23.6% FIB Retracement Level: $207

38.2% FIB Retracement Level: $172

62% FIB Retracement Level: $116

Ripple’s XRP

Ripple’s XRP fell by 1.32% on Sunday. Following a 34.82% surge on Saturday, Ripple’s XRP ended the week up by 113.1% to $1.35243.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high and a new swing hi $1.49667.

Falling short of the first major resistance level at $1.5131, Ripple’s XRP slid to a mid-day intraday low $1.28937.

Steering clear of the first major support level at $1.1202, Ripple’s XRP revisited $1.41 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.56% to $1.34483. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.36699 before falling to a low $1.34162.

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 $1.3795 pivot level to bring the first major resistance level at $1.4696 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $1.45 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s new swing hi $1.49667 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.60 levels before any pullback. The second major resistance level sits at $1.5868.

Failure to move through the $1.3795 pivot would bring the first major support level at $1.2623 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 23.6% FIB of $1.1841. The second major support level sits at $1.1722.

Looking at the Technical Indicators

First Major Support Level: $1.2623

Pivot Level: $1.3795

First Major resistance Level: $1.4696

23.6% FIB Retracement Level: $1.1841

38.2% FIB Retracement Level: $0.9907

62% FIB Retracement Level: $0.6781

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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