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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 31st, 2021

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·5 min read
In this article:
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Ethereum

Ethereum rose by 1.40% on Tuesday. Following on from a 7.64% rally on Monday, Ethereum ended the day at $1,841.16.

A mixed start to the day saw Ethereum fall to an early morning intraday low $1,785.77 before making a move.

Steering clear of the first major support level at $1,713, Ethereum rallied to a late intraday high $1,860.00.

Falling short of the first major resistance level at $1,880, Ethereum eased back to end the day at sub-$1,850 levels.

At the time of writing, Ethereum was up by 0.19% to $1,844.68. A bullish start to the day saw Ethereum rise from an early morning low $1,841.00 to a high $1,845.38.

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 $1,829 to support a run at the first major resistance level at $1,872.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $1,860.00.

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 $1,900 before any pullback. The second major resistance level sits at $1,903.

Failure to avoid a fall through the $1,829 pivot would bring the first major support level at $1,798 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,755 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,798

Pivot Level: $1,829

First Major Resistance Level: $1,872

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 1.06% on Tuesday. Following on from a 5.11% rally on Monday, Litecoin ended the day at $195.73.

A mixed start to the day saw Litecoin fall to an early morning intraday low $190.18 before making a move.

Steering clear of the first major support level at $185, Litecoin rallied to a mid-day intraday high $200.08.

Litecoin broke through 23.6% FIB of $195 before hitting reverse.

Coming up against the first major resistance level at $200, Litecoin fell back through the 23.6% FIB of $195 before ending the day at $195 levels.

At the time of writing, Litecoin was down by 0.07% to $195.60. A range-bound start to the day saw Litecoin rise to an early morning high $195.81 before falling to a low $195.47.

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

For the day ahead

Litecoin would need to avoid a fall through the $195 pivot level and the 23.6% FIB to support a run at the first major resistance level at $201.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, Tuesday’s high $200.08 and the first major resistance level would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $205.

Failure to avoid a fall through the 23.6% FIB of $195 and the $195 pivot level would bring the first major support level at $191 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$180 levels. The second major support level at $185 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $191

Pivot Level: $195

First Major Resistance Level: $201

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 0.46% on Tuesday. Following a 3.41% gain on Monday, Ripple’s XRP ended the day at $0.56336.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.55938 before making a move.

Steering clear of the first major support level at $0.5488, Ripple’s XRP rallied to a late morning intraday high $0.58603.

Ripple’s XRP broke through the first major resistance level at $0.5763 before hitting reverse.

Coming within range of the second major resistance level at $0.5873, Ripple’s XRP slid back to sub-$0.56 levels before finding support.

Through the latter part of the day, Ripple’s XRP revisited $0.568 levels before falling back into the red.

At the time of writing, Ripple’s XRP was up by 0.07% to $0.56377. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.56314 to a high $0.56418.

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

For the day ahead

Ripple’s XRP will need to move through the $0.5696 pivot level to bring the first major resistance level at $0.5798 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.5750 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.58603 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.60 levels before any pullback. The second major resistance level sits at $0.5962.

Failure to move through the $0.5696 pivot would bring the first major support level at $0.5532 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.54 levels. The second major support level at $0.5429 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.5532

Pivot Level: $0.5696

First Major resistance Level: $0.5798

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

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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