2021-03-29 06:48:32

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 29th, 2021

Ethereum

Ethereum fell by 1.58% on Sunday. Reversing a 0.82% gain from Saturday, Ethereum ended the week down by 5.45% to $1,686.92.

A mixed start to the day saw Ethereum rise to a late morning intraday high $1,725.71 before hitting reverse.

Falling short of the first major resistance level at $1,742, Ethereum slid to a late intraday low $1,662.

Ethereum fell through the first major support level at $1,676 before a partial recovery to $1,680 levels.

At the time of writing, Ethereum was down by 0.15% to $1,684.46. A mixed start to the day saw Ethereum rise to an early morning high $1,687.20 before falling to a low $1,683.60.

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 $1,692 to support a run at the first major resistance level at $1,721.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,700 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $1,725.71 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,800 before any pullback. The second major resistance level sits at $1,755.

Failure to move through the $1,692 pivot would bring the first major support level at $1,657 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,600 levels. The second major support level at $1,628 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,657

Pivot Level: $1,692

First Major Resistance Level: $1,721

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 0.09% on Sunday. Following on from a 0.23% gain on Saturday, Litecoin ended the week down by 5.80% to $184.27.

A mixed start to the day saw Litecoin rise to an early morning intraday high $187.30 before hitting reverse.

Coming within range of the first major resistance level at $188, Litecoin fell to a late intraday low $180.

Steering clear of the first major support level at $179, Litecoin moved back through to $184 levels to end the day in the green.

At the time of writing, Litecoin was down by 0.17% to $183.96. A mixed start to the day saw Litecoin rise to an early morning high $184.47 before falling to a low $183.88.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move back through the $184 pivot level to support a run at the first major resistance level at $188.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $187.30.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at 23.6% FIB of $195 before any pullback. The second major resistance level sits at $191.

Failure to move back through the $184 pivot level would bring the first major support level at $180 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$170 levels. The second major support level at $177 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $180

Pivot Level: $184

First Major Resistance Level: $188

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 0.05% on Sunday. Following a 3.42% slide from Saturday, Ripple’s XRP ended the week up by 5.89% to $0.54765.

Tracking the broader market, Ripple’s XRP rose to a late morning intraday high $0.5600 before hitting reverse.

Falling short of the first major resistance level at $0.5704, Ripple’s XRP slid to a mid-day intraday low $0.5400.

Steering clear of the 23.6% FIB of $0.5320 and the first major support level at $0.5299, Ripple’s XRP recovered to end the day in the green.

At the time of writing, Ripple’s XRP was down by 0.76% to $0.54351. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.54661 to a low $0.54351.

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

https://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to move through the $0.5492 pivot level to bring the first major resistance level at $0.5584 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.5550 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.5600 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.57 levels before any pullback. The second major resistance level sits at $0.5692.

Failure to move through the $0.0.5492 pivot would bring the first major support level at $0.5384 and the 23.6% FIB of $0.5320 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.5292.

Looking at the Technical Indicators

First Major Support Level: $0.5384

Pivot Level: $0.5492

First Major resistance Level: $0.5584

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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