Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 24th, 2021

Ethereum

Ethereum fell by 1.22% on Friday. Partially reversing a 1.79% gain from Thursday, Ethereum ended the day at $2,370.05.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,442.29 before hitting reverse.

Falling short of the first major resistance level at $2,596, Ethereum tumbled to an early morning intraday low $2,060.00.

The sell-off saw Ethereum fall through the first major support level at $2,254 and the second major support level at $2,108.

Steering clear of the 23.6% FIB of $2,041, Ethereum broke back through the major support levels to end the day at $2,300 levels.

At the time of writing, Ethereum was down by 1.22% to $2,341.07. A mixed start to the day saw Ethereum rise to an early morning high $2,371.18 before falling to a low $2,337.23.

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

For the day ahead

Ethereum would need to avoid the pivot level at $2,291 to support a run at the first major resistance level at $2,522.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $2,442.29.

Barring an extended crypto rally, the first major resistance level and resistance at $2,600 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at Thursday’s new swing hi $2,646.2. The second major resistance level sits at $2,673.

Failure to avoid a fall through the $2,291 pivot would bring the first major support level at $2,139 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,909. The 23.6% FIB of $2,041 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,139

Pivot Level: $2,291

First Major Resistance Level: $2,522

23.6% FIB Retracement Level: $2,041

38.2% FIB Retracement Level: $1,666

62% FIB Retracement Level: $1,061

Litecoin

Litecoin fell by 4.38% on Friday. Following on from a 2.01% decline on Thursday, Litecoin ended the day at $241.67.

A mixed start to the day saw Litecoin rise to an early morning intraday high $257.07 before hitting reverse.

Falling short of the 23.6% FIB of $262 and the first major resistance level at $282, Litecoin slid to an early morning intraday low $207.10.

Litecoin fell through the first major support level at $232 and the second major support level at $211.

The sell-off also saw Litecoin fall through the 38.2% FIB of $217.

Steering clear of sub-$200, Litecoin broke back through the support levels and 38.2% FIB to revisit $243 levels before easing back.

At the time of writing, Litecoin was down by 1.44% to $238.20. A bearish start to the day saw Litecoin fall from an early morning high $241.79 to a low $238.06.

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

http://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid the $235 pivot level to support a run at the 23.6% FIB of $262 and the first major resistance level at $264.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $257.07.

Barring an extended crypto rally, the first major resistance level and 23.6% FIB would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $280. The second major resistance level sits at $285.

Failure to avoid a fall through the $235 pivot level would bring the 38.2% FIB of $217 and the first major support level at $214 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$200. The second major support level sits at $185.

Looking at the Technical Indicators

First Major Support Level: $214

Pivot Level: $235

First Major Resistance Level: $264

23.6% FIB Retracement Level: $250

38.2% FIB Retracement Level: $207

62% FIB Retracement Level: $138

Ripple’s XRP

Ripple’s XRP rose by 1.29% on Friday. Partially reversing a 10.53% tumble on Thursday, Ripple’s XRP ended the day at $1.17113.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.19617 before hitting reverse.

Falling short of the first major resistance level at $1.3535, Ripple’s XRP slid to an early morning intraday low $0.86800.

The sell-off saw Ripple’s XRP fall through the first major support level at $1.0248 and the second major support level at $0.8936.

Steering clear of the 62% FIB of $0.8573, Ripple’s XRP broke back through the major support levels to end the day at $1.17 levels.

At the time of writing, Ripple’s XRP was down by 2.00% to $1.14776. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.17279 before falling to a low $1.14691.

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

http://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to avoid a fall through the $1.0784 pivot level to bring the first major resistance level at $1.2889 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the 38.2% FIB of $1.2807.

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 $1.40 levels. The second major resistance level sits at $1.4066.

Failure to avoid a fall through the $1.0784 pivot would bring the first major support level at $0.9607 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.7503. The 62% FIB of $0.8573 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.9607

Pivot Level: $1.0784

First Major resistance Level: $1.2889

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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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