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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 13th, 2021

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·5 min read
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Ethereum

Ethereum fell by 0.58% on Monday. Partially reversing a 0.82% gain from Sunday, Ethereum ended the day at $2,138.03.

A mixed start to the day saw Ethereum rise to a mid-morning intraday high and a new swing hi $2,199.11 before hitting reverse.

Ethereum broke through the first major resistance level at $2,172 and the second major resistance level at $2,193.

Coming up against resistance at $2,200, Ethereum slid to a late afternoon intraday low $2,102.55.

The reversal saw Ethereum fall through the first major support level at $2,121 before ending the day at $2,138 levels.

At the time of writing, Ethereum was up by 0.21% to $2,142.50. A mixed start to the day saw Ethereum fall to an early morning low $2,135.90 before rising to a high $2,145.19.

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

For the day ahead

Ethereum would need to move through the pivot level at $2,147 to support a run at the first major resistance level at $2,191.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,190 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s new swing hi $2,199.11 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,300 before any pullback. The second major resistance level sits at $2,243.

Failure to move through the $2,147 pivot would bring the first major support level at $2,094 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,050 levels. The second major support level at $2,050 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,094

Pivot Level: $2,147

First Major Resistance Level: $2,191

23.6% FIB Retracement Level: $1,699

38.2% FIB Retracement Level: $1,390

62% FIB Retracement Level: $890

Litecoin

Litecoin fell by 3.15% on Monday. Following on from a 1.49% decline on Sunday, Litecoin ended the day at $244.35.

A bullish start to the day saw Litecoin rise to a late morning intraday high $258.69 before hitting reverse.

Falling short of the first major resistance level at $261, Litecoin fell to a mid-afternoon intraday low $240.14.

Litecoin fell through the first major support level at $246 before briefly revisiting $247 levels late in the day.

A bearish end to the day, however, saw Litecoin fall back through the first major support level to end the day at $244 levels.

At the time of writing, Litecoin was up by 0.75% to $246.19. A bullish start to the day saw Litecoin rise from an early morning low $244.33 to a high $246.24.

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

For the day ahead

Litecoin would need to move through the $248 pivot level to support a run at the first major resistance level at $255.

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

Barring an extended crypto rally, the first major resistance level and Monday’s high $258.69 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $266.

Failure to move through the $248 pivot level would bring the first major support level at $237 into play.

Barring an extended sell-off, Litecoin should steer well clear of the second major support level at $229.

Looking at the Technical Indicators

First Major Support Level: $237

Pivot Level: $248

First Major Resistance Level: $255

23.6% FIB Retracement Level: $207

38.2% FIB Retracement Level: $172

62% FIB Retracement Level: $116

Ripple’s XRP

Ripple’s XRP rallied by 8.71% on Monday. Reversing a 1.32% fall from Sunday, Ripple’s XRP ended the day at $1.46819.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.31763 before making a move.

Steering clear of the first major support level at $1.2623, Ripple’s XRP rallied to a final hour intraday high $1.47648.

Ripple’s XRP broke through the first major resistance level at $1.4696 before easing back.

At the time of writing, Ripple’s XRP was down by 1.09% to $1.45222. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.47955 before falling to a low $1.44571.

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 $1.4208 pivot level to bring the first major resistance level at $1.5239 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $1.47955.

Barring an extended crypto rally, the first major resistance level and Sunday’s new swing hi $1.49667 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 $1.5796.

Failure to avoid a fall through the $1.4208 pivot would bring the first major support level at $1.3651 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.30 levels. The second major support level sits at $1.2619.

Looking at the Technical Indicators

First Major Support Level: $1.3651

Pivot Level: $1.4208

First Major resistance Level: $1.5239

23.6% FIB Retracement Level: $1.1841

38.2% FIB Retracement Level: $0.9907

62% FIB Retracement Level: $0.6781

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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