2021-03-10 05:35:53

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 10th, 2021

Ethereum

Ethereum rose by 2.02% on Tuesday. Following on from a 6.17% rally on Monday, Ethereum ended the day at $1,871.99.

A mixed start to the day saw Ethereum rise to an early morning high $1,859.62 before hitting reverse.

Falling short of the major resistance levels, Ethereum fell to a mid-day intraday low $1,800.00 before finding support.

Steering clear of the first major support level at $1,718, Ethereum rallied to a final hour intraday high $1,872.26.

In spite of the late rally, Ethereum came up short of the first major resistance level at $1,898 on the day.

At the time of writing, Ethereum was down by 0.19% to $1,868.34. A mixed start to the day saw Ethereum rise to an early morning high $1,878.00 before falling to a low $1,865.65.

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 $1,848 to support a run at the first major resistance level at $1,896.

Support from the broader market would be needed, however, for Ethereum to break out from this morning’s high $1,878.00.

Barring an extended crypto rally, the first major resistance level and resistance at $1,900 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 $1,920.

Failure to avoid a fall through the $1,848 pivot would bring the first major support level at $1,824 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level sits at $1,776.

Looking at the Technical Indicators

First Major Support Level: $1,824

Pivot Level: $1,848

First Major Resistance Level: $1,896

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rallied by 6.29% on Tuesday. Following on from a 0.56% gain on Monday, Litecoin ended the day at $203.98.

A mixed start to the day saw Litecoin fall to an early morning intraday low $189.01 before making a move.

Finding support at the first major support level at $189, Litecoin rallied to a late intraday high $205.20.

Litecoin broke through the 23.6% FIB of $195 and the day’s major resistance levels.

A late pullback, however, saw Litecoin fall back through the third major resistance level at $205 to end the day at sub-$204 levels.

At the time of writing, Litecoin was down by 0.03% to $203.91. A mixed start to the day saw Litecoin rise to an early morning high $205.27 before falling to a low $203.29.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid a fall through the $199 pivot level to support a run at the first major resistance level at $210.

Support from the broader market would be needed, however, for Litecoin to break out from thus morning’s high $205.27.

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 $216.

Failure to avoid a fall through the $199 pivot level would bring 23.6% FIB of $195 and the first major support level at $194 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $183.

Looking at the Technical Indicators

First Major Support Level: $194

Pivot Level: $199

First Major Resistance Level: $210

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 2.38% on Tuesday. Following on from a 1.78% gain on Monday, Ripple’s XRP ended the day at $0.48555.

It was another choppy start to the day. Ripple’s XRP fell to an early morning intraday low $0.47140 before making a move.

Steering clear of the first major support level at $0.4568, Ripple’s XRP rallied to an early morning intraday high $0.48768.

Falling short of the first major resistance level at $0.4908, Ripple’s XRP fell back to sub-$0.48 levels before a late move back through to $0.48 levels.

At the time of writing, Ripple’s XRP was up by 0.18% to $0.48642. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.48555 to a high $0.48865.

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 avoid a fall through the $0.4815 pivot level to bring the first major resistance level at $0.4917 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $0.48865.

Barring an extended crypto rally, the first major resistance level and resistance at $0.49 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 $0.4978.

Failure to avoid a fall through the $0.4815 pivot would bring the first major support level at $0.4754 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.47 levels. The second major support level sits at $0.4653.

Looking at the Technical Indicators

First Major Support Level: $0.4754

Pivot Level: $0.4815

First Major resistance Level: $0.4917

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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