Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 15th, 2021

Ethereum

Ethereum rose by 5.76% on Wednesday. Following on from a 7.57% rally on Tuesday, Ethereum ended the day at $2,432.54.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,283.26 before making a move.

Steering clear of the first major support level at $2,185, Ethereum surged to a final hour intraday high and a new swing hi $2,446.91.

Ethereum broke through the first major resistance level at $2,366 and the second major resistance level at $2,432 before easing back.

While easing back, Ethereum managed to find support at the second major resistance level at $2,432.

At the time of writing, Ethereum was up by 0.35% to $2,440.98. A bullish start to the day saw Ethereum rise from an early morning low $2,432.12 to a new swing hi $2,449.99.

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 $2,388 to support a run at the first major resistance level at $2,492.

Support from the broader market would be needed, however, for Ethereum to break out from this morning’s new swing hi $2,449.99.

Barring an extended crypto rally, the first major resistance level and resistance at $2,500 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,600 before any pullback. The second major resistance level sits at $2,551.

Failure to avoid a fall through the $2,388 pivot would bring the first major support level at $2,328 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level at $2,224 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,328

Pivot Level: $2,388

First Major Resistance Level: $2,492

23.6% FIB Retracement Level: $1,889

38.2% FIB Retracement Level: $1,543

62% FIB Retracement Level: $985

Litecoin

Litecoin rose by 4.14% on Wednesday. Following on from a 9.56% rally on Tuesday, Litecoin ended the day at $278.85.

A bullish start to the day saw Litecoin rise to an early morning intraday high and a new swing hi $283.2 before hitting reverse.

Litecoin broke through the first major resistance level at $279 before falling to an early afternoon intraday low $255.0.

Steering clear of the first major support level at $250, Litecoin briefly broke back through the first major resistance level before falling back to sub-$279 levels.

At the time of writing, Litecoin was up by 0.25% to $279.54. A bullish start to the day saw Litecoin rise from an early morning low $278.75 to a high $282.80.

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

For the day ahead

Litecoin would need to avoid a fall through the $273 pivot level to support a run at the first major resistance level at $289.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s swing hi $283.20.

Barring an extended crypto rally, the first major resistance level and resistance at $290 would likely cap any upside.

In the event of an extended rally, Litecoin could test the second major resistance level at $300.

Failure to avoid a fall through the $273 pivot level would bring the first major support level at $262 into play.

Barring an extended sell-off, Litecoin should steer well clear of the second major support level at $245.

Looking at the Technical Indicators

First Major Support Level: $262

Pivot Level: $273

First Major Resistance Level: $289

23.6% FIB Retracement Level: $222

38.2% FIB Retracement Level: $185

62% FIB Retracement Level: $124

Ripple’s XRP

Ripple’s XRP rose by 2.30% on Wednesday. Following on from a 22.24% jump on Tuesday, Ripple’s XRP ended the day at $1.83817.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high and a new swing hi $1.96598 before hitting reverse.

Falling short of the first major resistance level at $1.9839, Ripple’s XRP slid to an early afternoon intraday low $1.5454.

Steering clear of the first major support level at $1.5132, Ripple’s XRP recovered to end the day at $1.83 levels.

At the time of writing, Ripple’s XRP was down by 0.84% to $1.82281. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.88353 before falling to a low $1.82230.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $1.7832 pivot level to bring the first major resistance level at $2.0210 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s new swing hi $1.96598.

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 $2.20 levels before any pullback. The second major resistance level sits at $2.2038.

Failure to avoid a fall through the $1.7832 pivot would bring the first major support level at $1.6004 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear the second major support level at $1.3626. The 23.6% FIB of $1.5426 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $1.6004

Pivot Level: $1.7832

First Major resistance Level: $2.0210

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