2021-03-19 05:35:31

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 19th, 2021

Ethereum

Ethereum fell by 2.63% on Thursday. Reversing a 1.05% gain from Wednesday, Ethereum ended the day at $1,776.4.

A bullish start to the day saw Ethereum rise to an early morning intraday high $1,850.00 before hitting reverse.

Falling short of the first major resistance level at $1,863, Ethereum slid to a late intraday low $1,758.40.

The pullback saw Ethereum fall through the first major support level at $1,764 before finding support.

Late in the day Ethereum revisited $1,795 levels before falling back to sub-$1,780 levels.

At the time of writing, Ethereum was down by 0.39% to $1,769.55. A mixed start to the day saw Ethereum rise to an early morning high $1,777.66 before falling to a low $1,767.03.

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 $1,795 to support a run at the first major resistance level at $1,832.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,800 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1,850.00 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,900 before any pullback. The second major resistance level sits at $1,887.

Failure to move through the $1,795 pivot would bring the first major support level at $1,740 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,703 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,740

Pivot Level: $1,795

First Major Resistance Level: $1,832

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin fell by 3.13% on Thursday. Reversing a 2.17% gain from Wednesday, Litecoin ended the day at $199.65.

A choppy start to the day saw Litecoin saw Litecoin rise to a mid-morning high $208.10 before hitting reverse.

Coming up short of the major resistance levels, Litecoin fell to an early afternoon low $200.88.

Steering clear of the major support levels, Litecoin struck a late afternoon intraday high $208.23.

Falling short of the first major resistance level at $211, Litecoin slid to a late intraday low $198.87.

Finding support at the first major support level at $198, revisited $200 levels before ending the day at $199 levels.

At the time of writing, Litecoin was down by 0.83% to $198.00. A mixed start to the day saw Litecoin rise to an early morning high $200.01 before falling to a low $198.00.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move through the $202 pivot level to support a run at the first major resistance level at $206.

Support from the broader market would be needed, however, for Litecoin to break out from $205 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $208.23 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $212.

Failure to move through the $202 pivot level would bring the first major support level at $196 and the 23.6% FIB of $195 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 support levels. The second major support level at $193 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $196

Pivot Level: $202

First Major Resistance Level: $206

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 0.25% on Thursday. Following a 2.04% gain on Wednesday, Ripple’s XRP ended the day at $0.46898.

A bearish start saw Ripple’s XRP fall to an early morning intraday low $0.46633 before making a move.

Steering clear of the 38.2% FIB of $0.4632 and the first major support level at $0.4554, Ripple’s XRP struck a mid-day intraday high $0.4900.

Ripple’s XRP broke through the first major resistance level at $0.4834 before a slide back to $0.466 levels.

Finding late support, Ripple’s XRP revisited $0.47 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.59% to $0.46619. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.46902 to a low $0.46453.

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 $0.4751 pivot level to bring the first major resistance level at $0.4839 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.48 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.4900 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 $0.4988.

Failure to move through the $0.4751 pivot would bring the 38.2% FIB of $0.4632 and the first major support level at $0.4602 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.45 levels. The second major support level at $0.4514 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4602

Pivot Level: $0.4751

First Major resistance Level: $0.4839

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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