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

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 15th, 2021
Written by publisher team

Ethereum

Ethereum is up 9.71% on Friday. Reversing the 2.05% loss from Thursday, Ethereum ended the day at $4,080.51.

A bearish start to the day saw Ethereum drop to an early morning intraday low $3,695.00 before finding support.

Breaking out of the first major support level at $3,482, Ethereum surged to a late afternoon high of $4,177.77.

Ethereum breached the first major resistance level at $4,006 before retracing briefly below $4,000.

However, the bullish end of the day saw Ethereum break out once again through the first major resistance level to end the day at $4,080 levels.

At the time of writing, the price of Ethereum is up 0.85% to $4,115.14. A mixed start to the day saw Ethereum drop to an early morning low of $4,067.97 before climbing to $4120.00.

Ethereum left key support and resistance levels untested early on.

for the next day

Ethereum will need to avoid a fall through the $3,984 pivot to trigger the first major resistance level at $4,274.

However, support from the broader market will be needed to exit Ethereum from Friday’s high of $4,177.77.

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 $4,500 resistance before any pullback. The second major resistance level is located at $4,467.

A failure to avoid a fall through the $3,984 pivot will trigger the first major support level to emerge at $3,791.

However, barring another extended sell off, Ethereum should move away from levels below $3,500. The second major support level at $3,502 should limit the downside.

Looking at technical indicators

First major support level: $3,791

Pivot level: $3,984

First major resistance level: $4,274

23.6% Fib Retracement Level: $3,369

38.2% Fib Retracement Level: $2,740

62% Fib Retracement Level: $1,725

Litecoin

Litecoin is up 2.63% on Friday. After posting a gain of 2.38% on Thursday, Litecoin ended the day at $326.67.

A mixed start to the day saw Litecoin drop to an intraday early morning low of $308.46 before taking any action.

Moving away from the first major support level at $294, Litecoin price surged to an afternoon high at $339.62.

The rally in Litecoin saw the 23.6% FIB break above $322 to test the first major resistance level at $339 before pulling back.

Late in the day, 23.6% FIB gave support.

At the time of writing, Litecoin is up 0.71% in value to $329.00. A mixed start to the day saw Litecoin drop to an early morning low of $325.58 before climbing to $330.07.

Litecoin left key support and resistance levels untested early on.

for the next day

Litecoin will need to avoid falling through the $325 pivot and the 23.6% FIB of $322 to support the breakout at the first major resistance level at $341.

However, support from the broader market will be needed in order for Litecoin to return to the $340 levels.

Barring an extended rally for the cryptocurrency, the first major resistance and resistance level is likely to be capped at $345 for any upside move.

In the event of an extended breakout, Litecoin could test the resistance at $370. The second major resistance level is located at $356.

A failure to avoid a fall through the $325 pivot and 23.6% Vipal would bring the first major support level at $310.

However, barring another extended sell off, Litecoin should move away from the sub-$300 levels. The second major support level is located at $294.

Looking at technical indicators

First Major Support Level: $310

Pivot level: $325

First major resistance level: $341

23.6% Fib Retracement Level: $322

38.2% Fib Retracement Level: $265

62% Fib Retracement Level: $174

Ripple XRP

XRP for Ripple is up 2.98% on Friday. After rising 8.67% on Thursday, XRP finished the day at $1.4054.

A mixed start to the day saw Ripple XRP drop to a midday low of $1.32,289 before making any move.

Moving away from the 38.2% FIB level at $1.2807 and the first major support level at $1.2461, XRP reached an afternoon high at $1.4500.

Ripple’s XRP broke the first major resistance level at $1.4356 before falling back to $1.34 levels.

Moving away from levels below $1.30, Ripple’s XRP found late support to conclude the day at $1.40 levels.

At the time of writing, Ripple’s XRP is up 0.37% to $1.41066. A bullish start to the day saw Ripple XRP rise from the early morning low of $1.40,100 to $1.41,709.

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

for the next day

Ripple’s XRP will need to avoid falling across the $1.3928 pivot to enter the first major resistance level at $1.4626.

Support from the broader market will be needed, however, for Ripple to break XRP from Friday’s high of $1.4500.

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

In the event of another extended rally, Ripple’s XRP could test the 23.6% FIB resistance at $1.5426. The second major resistance level is located at $1.5199.

Failure to avoid falling through the $1.3928 pivot will trigger the first major support level at $1.3355.

Barring another extended sell off, Ripple’s XRP should move away from the 38.2% Fibonacci level at $1.2807. The second major support level is located at $1.2657.

Looking at technical indicators

First major support level: $1.3355

Pivot level: $1.3928

First major resistance level: $1.4626

23.6% Fibonacci Retracement Level: $1.5426

38.2% Fib Retracement Level: $1.2807

62% Fibonacci Retracement Level: $0.8573

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Thanks bob

This article was originally published on FX Empire

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