Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 20th, 2021

Ethereum

Ethereum fell by 3.47% on Monday. Following on from a 3.35% decline on Sunday, Ethereum ended the day at $2,163.82.

A mixed start to the day saw Ethereum rise to an early morning intraday high $2,282.60 before hitting reverse.

Falling short of the first major resistance level at $2,388, Ethereum slid to a mid-afternoon intraday low $2,050.00.

Finding support at the first major support level at $2,047, Ethereum briefly revisited $2,200 levels before easing back.

At the time of writing, Ethereum was down by 0.52% to $2,152.47. A mixed start to the day saw Ethereum rise to an early morning high $2,179.94 before falling to a low $2,139.57.

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

For the day ahead

Ethereum would need to move back through the pivot level at $2,166 to support a run at the first major resistance level at $2,281.

Support from the broader market would be needed, however, for Ethereum to break out from $2,250 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2,286.06 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,400 before any pullback. The second major resistance level sits at $2,398.

Failure to move back through the $2,166 pivot would bring the first major support level at $2,048 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,933. The 38.2% FIB of $1,966 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,048

Pivot Level: $2,166

First Major Resistance Level: $2,281

23.6% FIB Retracement Level: $1,966

38.2% FIB Retracement Level: $1,606

62% FIB Retracement Level: $1,023

Litecoin

Litecoin fell by 4.59% on Monday. Following on from an 8.92% slide on Sunday, Litecoin ended the day at $261.56.

A mixed start to the day saw Litecoin rise to an early morning high $283.69 before hitting reverse.

Falling short of the first major resistance level at $306, Litecoin slid to a late afternoon intraday low $249.06.

While steering clear of the first major support level at $242, Litecoin fell through the 23.6% FIB of $262.

Finding late support, Litecoin broke back through the 23.6% FIB to revisit $273 levels before easing back to sub-$262 levels.

At the time of writing, Litecoin was down by 1.23% to $258.35. A mixed start to the day saw Litecoin rise to an early morning high $264.37 before falling to a low $255.00.

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

For the day ahead

Litecoin would need to move through the 23.6% FIB and the $265 pivot level to support a run at the first major resistance level at $281.

Support from the broader market would be needed, however, for Litecoin to break out from $275 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $283.69 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $300 before any pullback. The second major resistance level sits at $299.

Failure to move through the 23.6% FIB and the $265 pivot would bring the first major support level at $246 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level sits at $230.

Looking at the Technical Indicators

First Major Support Level: $246

Pivot Level: $265

First Major Resistance Level: $281

23.6% FIB Retracement Level: $250

38.2% FIB Retracement Level: $207

62% FIB Retracement Level: $138

Ripple’s XRP

Ripple’s XRP fell by 7.70% on Monday. Following on from an 8.28% slide on Sunday, Ripple’s XRP ended the day at $1.31032.

A mixed start to the day saw Ripple’s XRP rise to a mid-morning intraday high $1.53250 before hitting reverse.

Falling short of the 23.6% FIB of $1.5426 and the first major resistance level at $1.6039, Ripple’s XRP slid to an early afternoon intraday low $1.25329.

While steering clear of the first major support level at $1.1868, Ripple’s XRP fell through the 38.2% FIB of $1.2807.

Finding late support, however, Ripple’s XRP broke back through the 38.2% FIB to revisit $1.39 levels before easing back.

At the time of writing, Ripple’s XRP was down by 1.69% to $1.28823. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.32486 before falling to a low $1.27000.

While leaving the major support and resistance levels untested, Ripple’s XRP briefly fell through the 38.2% FIB of $1.2807.

For the day ahead

Ripple’s XRP will need to move through the $1.3654 pivot level to bring the first major resistance level at $1.4775 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 the 23.6% FIB of $1.5426 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 $1.6446.

Failure to move through the $1.3654 pivot would bring the 38.2% FIB of $1.2807 and the first major support level at $1.1982 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level at $1.0862 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.1982

Pivot Level: $1.3654

First Major resistance Level: $1.4775

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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