2021-04-01 02:20:36

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 1st, 2021

For the day ahead

Litecoin would need to avoid a fall through the 23.6% FIB and the $194 pivot level to support a run at the first major resistance level at $202.

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

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 $210 before any pullback. The second major resistance level sits at $206.

Failure to avoid a fall through the 23.6% FIB of $195 and the $194 pivot level would bring the first major support level at $190 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$180 levels. The second major support level at $183 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $190

Pivot Level: $194

First Major Resistance Level: $202

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 1.14% on Wednesday. Reversing a 0.46% loss from Tuesday, Ripple’s XRP ended the day at $0.56954.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.5290 before making a move.

Ripple’s XRP fell through the first major support level at $0.5532 and the second major support level at $0.5429.

More significantly, Ripple’s XRP also fell through the 23.6% FIB of $0.5320 before rallying to a late intraday high $0.58000.

Ripple’s XRP broke back through the support levels and the 23.6% FIB before sliding back to sub-$0.57 levels.

The first major resistance level at $0.5798 pinned Ripple’s XRP late in the day.

At the time of writing, Ripple’s XRP was down by 0.41% to $0.56718.  A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.57342 before falling to a low $0.56472.

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

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