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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 18th, 2021

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·5 min read
In this article:
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Ethereum

Ethereum rose by 1.05% on Wednesday. Following on from a 0.67% gain on Tuesday, Ethereum ended the day at $1,824.74.

A bearish start to the day saw Ethereum slide to a mid-day intraday low $1,742.0 before making a move.

Steering clear of the first major support level at $1,735, Ethereum rose to a late intraday high $1,841.13.

Falling short of the first major resistance level at $1,848, Ethereum eased back to end the day at $1,820 levels.

At the time of writing, Ethereum was up by 0.40% to $1,832.07. A mixed start to the day saw Ethereum fall to an early morning low $1,823.48 before rising to a high $1,838.89.

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 $1,803 to support a run at the first major resistance level at $1,863.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $1,841.13.

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 $1,950 before any pullback. The second major resistance level sits at $1,902.

Failure to avoid a fall through the $1,803 pivot would bring the first major support level at $1,764 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,704 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,764

Pivot Level: $1,803

First Major Resistance Level: $1,863

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 2.17% on Wednesday. Following on from a 0.49% gain on Tuesday, Litecoin ended the day at $206.04.

A choppy start to the day saw Litecoin saw Litecoin rise to a late morning intraday high $206.88 before hitting reverse.

Coming up short of the first major resistance level at $208, Litecoin fell to a mid-day intraday low $194.25.

The reversal saw Litecoin fall through the 23.6% FIB of $195 before recovering.

Finding support at the first major support level at $194, Litecoin bounced back to end the day at $206.

At the time of writing, Litecoin was up by 0.17% to $206.38. A bullish start to the day saw Litecoin rise from an early morning low $206.08 to a high $207.73.

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

For the day ahead

Litecoin would need to avoid a fall through the $202 pivot level to support a run at the first major resistance level at $211.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $207.73.

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

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $215.

Failure to avoid a fall through the $202 pivot level would bring the first major support level at $198 and the 23.6% FIB of $195 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 support levels. The second major support level at $190 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $198

Pivot Level: $202

First Major Resistance Level: $211

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rose by 2.04% on Wednesday. Following on from a 5.48% rally on Tuesday, Ripple’s XRP ended the day at $0.47013.

A bullish start saw Ripple’s XRP break through the 38.2% FIB of $0.4632 to an early morning intraday high $0.48200 before hitting reverse.

Coming up well short of the first major resistance level at $0.5182, Ripple’s XRP slid to a late morning intraday low $0.45400.

While steering clear of the first major support level at $0.4144, Ripple’s XRP fell back through the 38.2% FIB.

Finding late morning support, however, Ripple’s XRP broke back through the 38.2% FIB to $0.472 levels.

In spite of a late pullback, Ripple’s XRP wrapped up the day at $0.47 levels.

At the time of writing, Ripple’s XRP was up by 0.56% to $0.47276. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.47014 to a high $0.47276.

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 $0.4687 pivot level to bring the first major resistance level at $0.4834 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.48 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.4820 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.50 before any pullback. The second major resistance level sits at $0.4967.

Failure to avoid a fall through the $0.4687 pivot would bring the 38.2% FIB of $0.4632 and the first major support level at $0.4554 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.45 levels. The second major support level sits at $0.4407.

Looking at the Technical Indicators

First Major Support Level: $0.4554

Pivot Level: $0.4687

First Major resistance Level: $0.4834

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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