Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 28th, 2021

Ethereum

Ethereum rose by 5.31% on Tuesday. Following on from a 9.11% rally on Monday, Ethereum ended the day at $2,667.86.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,484.56 before making a move.

Steering clear of the first major support level at $2,379, Ethereum rallied to a late afternoon intraday high and a new swing hi $2,683.00.

Ethereum broke through the first major resistance level at $2,615 before easing back to $2,605 levels.

Finding late support, however, Ethereum broke back through the first major resistance level to end the day at $2,660 levels.

At the time of writing, Ethereum was up by 0.76% to $2,677.12. A bullish start to the day saw Ethereum rise from an early morning low $2,667.66 to a new swing hi $2,688.12

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

For the day ahead

Ethereum would need to avoid the pivot level at $2,612 to support a run at the first major resistance level at $2,739.

Support from the broader market would be needed, however, for Ethereum to break through to $2,700 levels.

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 $2,850. The second major resistance level sits at $2,810.

Failure to avoid the $2,612 pivot would bring the first major support level at $2,541 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,400 levels. The second major support level at $2,413 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,541

Pivot Level: $2,612

First Major Resistance Level: $2,739

23.6% FIB Retracement Level: $2,069

38.2% FIB Retracement Level: $1,689

62% FIB Retracement Level: $1,075

Litecoin

Litecoin rose by 5.12% on Tuesday. Following on from a 10.43% rally on Monday, Litecoin ended the day at $259.96.

A mixed start to the day saw Litecoin fall to an early morning intraday low $243.81 before making a move.

Steering clear of the first major support level at $230, Litecoin rallied to a late afternoon intraday high $264.00.

Litecoin broke through the first major resistance level at $257 and the 23.6% FIB of $262 before falling back to $255 levels.

Finding late support, however, Litecoin broke back through the first major resistance level to end the day at $259 levels.

At the time of writing, Litecoin was up by 0.81% to $262.07. A bullish start to the day saw Litecoin rise from an early morning low $259.92 to a high $262.50.

While leaving the major support and resistance levels untested early on, Litecoin broke through the 23.6% FIB of $262.

http://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid the $256 pivot level to support a run at the first major resistance level at $268.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $264.00.

Barring an extended crypto rally, the first major resistance level and resistance at $270 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $285. The second major resistance level sits at $276.

Failure to avoid a fall through the $256 pivot level would bring the first majors support level at $248 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level sits at $236.

Looking at the Technical Indicators

First Major Support Level: $248

Pivot Level: $256

First Major Resistance Level: $268

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 2.94% on Tuesday. Following Monday’s 31.66% breakout, Ripple’s XRP ended the day at $1.40322.

After a mixed start to the day, Ripple’s XRP rise to an early morning intraday high $1.46435 before hitting reverse.

Falling short of the first major resistance level at $1.4861, Ripple’s XRP fell to an early afternoon intraday low $1.33055.

Steering clear of the 38.2% FIB and the major support levels, Ripple’s XRP revisited $1.43 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.87% to $1.41544. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.40356 to a high $1.41764.

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 the $1.3994 pivot level to bring the first major resistance level at $1.4682 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $1.46435.

Barring an extended crypto rally, the first major resistance level and resistance at $1.50 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $1.5332 and resistance at the 23.6% FIB of $1.5426.

Failure to avoid a fall through the $1.3994 pivot would bring the first major support level at $1.3344 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.30 levels. The second major support level sits at $1.2656.

Looking at the Technical Indicators

First Major Support Level: $1.3344

Pivot Level: $1.3994

First Major resistance Level: $1.4682

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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