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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 14th, 2021

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Bob Mason
·5 min read
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Ethereum

Ethereum rallied by 7.57% on Tuesday. Reversing a 0.58% loss from Monday, Ethereum ended the day at $2,299.92.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,135.9 before making a move.

Steering clear of the first major support level at $2,094.02, Ethereum surged to a late intraday high and a new swing hi $2,317.3.

Ethereum broke through the first major resistance level at $2,191 and the second major resistance level at $2,243 before easing back.

Coming within range of the third major resistance level at $2,340, Ethereum eased back to end the day at sub-$2,300 levels.

At the time of writing, Ethereum was down by 0.30% to $2,293.00. A mixed start to the day saw Ethereum rise to an early morning high $2,310.87 before falling to a low $2,291.24.

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 $2,251 to support a run at the first major resistance level at $2,366.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s new swing hi $2,317.3.

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 $2,500 before any pullback. The second major resistance level sits at $2,432.

Failure to avoid a fall through the $2,251 pivot would bring the first major support level at $2,185 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,100 levels. The second major support level sits at $2,070.

Looking at the Technical Indicators

First Major Support Level: $2,185

Pivot Level: $2,251

First Major Resistance Level: $2,366

23.6% FIB Retracement Level: $1,790

38.2% FIB Retracement Level: $1,4633

62% FIB Retracement Level: $935

Litecoin

Litecoin rallied by 9.56% on Tuesday. Reversing a 3.15% loss from Monday, Litecoin ended the day at $267.77.

A bullish start to the day saw Litecoin rise from an early morning intraday low $244.33 to a late intraday high and a new swing hi $273.30.

Litecoin broke through the first major resistance level at $255 and the second major resistance level at $266.

Late in the day, Litecoin briefly fell back through the second major resistance level before wrapping up the day at $267 levels.

At the time of writing, Litecoin was up by 0.47% to $269.04. A bullish start to the day saw Litecoin rise from an early morning low $267.02 to a high $269.13.

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

For the day ahead

Litecoin would need to avoid a fall through the $262 pivot level to support a run at the first major resistance level at $279.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s new swing hi $273.30.

Barring an extended crypto rally, the first major resistance level and resistance at $280 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $300 before any pullback. The second major resistance level sits at $291.

Failure to avoid a fall through the $262 pivot level would bring the first major support level at $250 into play.

Barring an extended sell-off, Litecoin should continue to steer well clear of the second major support level at $233.

Looking at the Technical Indicators

First Major Support Level: $250

Pivot Level: $262

First Major Resistance Level: $279

23.6% FIB Retracement Level: $215

38.2% FIB Retracement Level: $179

62% FIB Retracement Level: $120

Ripple’s XRP

Ripple’s XRP jumped by 22.24% on Tuesday. Following on from an 8.71% rally on Monday, Ripple’s XRP ended the day at $1.79583.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.41863 before making a move.

Steering clear of the first major support level at $1.3651, Ripple’s XRP rallied to a late intraday high and a new swing hi $1.88933.

Ripple’s XRP broke through the day’s major resistance levels before easing back to sub-$1.80 levels.

Ripple’s XRP briefly fell back through the third major resistance level at $1.7385 before wrapping up the day at $1.79 levels.

At the time of writing, Ripple’s XRP was up by 1.14% to $1.81628. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.7845 before rising to a high $1.8438.

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 $1.7013 pivot level to bring the first major resistance level at $1.9839 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s new swing hi $1.88933.

Barring an extended crypto rally, the first major resistance level and resistance at $2.00 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $2.20 levels before any pullback. The second major resistance level sits at $2.1720.

Failure to avoid a fall through the $1.7013 pivot would bring the first major support level at $1.5132 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.50 levels. The second major support level sits at $1.2306.

Looking at the Technical Indicators

First Major Support Level: $1.5132

Pivot Level: $1.7013

First Major resistance Level: $1.9839

23.6% FIB Retracement Level: $1.4840

38.2% FIB Retracement Level: $1.2333

62% FIB Retracement Level: $0.8280

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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