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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 2nd, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 2nd, 2021
Written by publisher team

Ethereum

Ethereum gained 2.52% on Thursday. After posting a gain of 4.29% on Wednesday, Ethereum ended the day at $1,968.38.

A mixed start to the day saw Ethereum climb to a late-morning high at $1,966.0 before bouncing back in the opposite direction.

After dropping below key resistance levels, Ethereum slipped to a late afternoon intraday low 1,886.11 before making any move.

Moving away from the first major support level at $1,812, Ethereum surged to an intraday high of $1,982.21.

Ethereum came within the range of the first major resistance level at $1,988 before pulling back.

At the time of writing, Ethereum is down 0.32% to $1,962.01. A mixed start to the day saw Ethereum climb to an early morning high of $1,972.00 before dropping to a low of $1,955.00.

Ethereum left key support and resistance levels untested early on.

for the next day

Ethereum will need to avoid falling through the pivotal level at $1,946 to support the run at the first major resistance level at $2,005.

Support from the broader market would be needed, however, for Ethereum to break through to the $2000 levels.

Barring an extended crypto rally, the first major resistance level for any uptrend is likely to be capped.

In the event of a breakout, Ethereum could test the $2100 resistance before any pullback. The second major resistance level is located at $2,042.

A failure to avoid a fall through the pivot of $1,946 will trigger the first major support level at $1,909.

However, barring an extended sell off, Ethereum should move away from levels below $1800. The second major support level at $1,850 should limit the downside.

Looking at technical indicators

First Major Support Level: $1,909

Pivot level: $1,946

First major resistance level: $2,005

23.6% Fib Retracement Level: $1,579

38.2% Fib Retracement Level: $1,292

62% Fib Retracement Level: $830

Litecoin

Litecoin is up 2.93% on Thursday. After posting a gain of 0.58% on Wednesday, Litecoin ended the day at $202.67.

A mixed start to the day saw Litecoin drop to an intraday midday low of $194.14 before making any move.

The morning pullback saw Litecoin drop through the 23.6% FIB at $195 before hitting a midday high during the afternoon session of $204.95.

Litecoin broke the first major resistance level at $202 before dropping to the $196 levels.

Moving away from 23.6% FIB, Litecoin rebounded to end the day at $202 levels.

At the time of writing, Litecoin is up 0.29% in value to $203.26. A mixed start to the day saw Litecoin drop to an early morning low of $201.62 before climbing to $203.74.

Litecoin left key support and resistance levels untested early on.

for the next day

Litecoin will need to avoid falling through the $201 pivot level to support the run at the first major resistance level at $207.

Support from the broader market will be needed, however, for Litecoin to break from Thursday’s high of $204.95.

Barring an extended rally for the cryptocurrency, the first major resistance and resistance at $210 is likely to block any upward trend.

In the event of an extended rally, Litecoin could test the $220 resistance before any pullback. The second major resistance level is located at $211.

A failure to avoid a fall through the $201 pivot level will trigger the first major support level to appear at $196 and the 23.6% Fibonacci Fib (FIB) of $195.

Barring an extended sell off, Litecoin should move away from levels below $190. The second major support level at $190 should limit the downside.

Looking at technical indicators

First Major Support Level: $196

Pivot level: $201

First major resistance level: $207

23.6% Fib Retracement Level: $195

38.2% Fib Retracement Level: $163

62% Fib Retracement Level: $110

Ripple XRP

XRP for Ripple is down 0.04% on Thursday. Ripple’s XRP gains partially reversed the 1.14% gain from Wednesday, ending the day at $0.57008.

A bullish start to the day saw Ripple’s XRP surge to an early morning intraday high of $0.59411 before bouncing back in the opposite direction.

Ripple’s XRP broke the first major resistance at $0.5900 before slipping to an afternoon low at $0.54864.

Moving away from the first major support level at $0.5390, XRP recovered to $0.57 levels to limit the downside.

At the time of writing, XRP is down 0.27% to $0.56856. A mixed start to the day saw XRP surge to an early morning high of $0.57270 before declining to $0.56828.

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

for the next day

Ripple’s XRP will need to move back through the $0.5709 pivot level to enter the first major resistance level at $0.5932.

Support from the broader market will be needed, however, for Ripple’s XRP to break back into the $0.59 levels.

Except for the cryptocurrency’s extended rally, the first major resistance level and Thursday’s high at $0.59411 are likely to cap an upside move.

In the event of an extended rally, Ripple’s XRP could test the resistance at $0.62 levels before any pullback. The second major resistance level is located at $0.0.6164.

A failure to return across the $0.5709 pivot will trigger the first major support level at $0.5478.

However, barring an extended sell-off, XRP of Ripple should move away from the 23.6% Fib level at $0.5320. The second major support level is located at $0.5255.

Looking at technical indicators

First major support level: $0.5478

Pivot Level: 0.5709 USD

The first major resistance level: $0.5932

23.6% Fib Retracement Level: $0.5320

38.2% Fib Retracement Level: $0.4632

62% Fib Retracement Level: $0.3521

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Thanks bob

This article was originally published on FX Empire

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