2021-03-22 05:43:36

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 22nd, 2021

Ethereum

Ethereum fell by 1.22% on Sunday. Following on from a 0.14% loss on Saturday, Ethereum ended the week down by 3.49% to $1,784.0.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,818.86 before hitting reverse.

Falling short of the first major resistance level at $1,850, Ethereum slid to a late morning intraday low $1,748.25.

Ethereum fell through the first major support level at $1,782 and the second major support level at $1,757.

Steering clear of sub-$1,700 levels, Ethereum revisited $1,800 levels before falling back into the red.

The first major support level at $1,782 limited the downside late in the day.

At the time of writing, Ethereum was down by 0.43% to $1,776.34. A mixed start to the day saw Ethereum rise to an early morning high $1,787.53 before falling to a low $1,773.49.

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

For the day ahead

Ethereum would need to move back through the pivot level at $1,784 to support a run at the first major resistance level at $1,819.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $1,818.86.

Barring an extended crypto rally, the first major resistance level and Sunday’s high 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 $1,854.

Failure to move back through the $1,784 pivot would bring the first major support level at $1,749 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,700 levels. The second major support level at $1,713 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,749

Pivot Level: $1,784

First Major Resistance Level: $1,819

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin fell by 2.31% on Sunday. Reversing a 0.14% gain from Saturday, Litecoin ended the week down by 8.64% to $195.53.

A mixed start to the day saw Litecoin rise to an early morning high $201.95 before hitting reverse.

Falling short of the first major resistance level at $205, Litecoin slid to a late morning intraday low $192.37.

Litecoin fell through the first major support level at $197 and the second major support level at $194.

More significantly, Litecoin also fell through the 23.6% FIB of $195 before finding support.

Steering clear of sub-$190, Litecoin revisited $198 levels before falling back into the red.

While falling back through the first major support level, the 23.6% FIB of $195 limited the downside late on.

At the time of writing, Litecoin was down by 0.50% to $194.55. A mixed start to the day saw Litecoin rise to an early morning high $196.05 before falling to a low $194.55.

While leaving the major support and resistance levels untested, Litecoin fell through the 23.6% FIB of $195 early on.

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move back through 23.6% FIB and the $197 pivot level to support a run at the first major resistance level at $201.

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 and Sunday’s high $201.95 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 move back through the 23.6% FIB and the $197 pivot level would bring the first major support level at $191 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$185 support levels. The second major support level at $187 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $191

Pivot Level: $197

First Major Resistance Level: $201

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 1.73% on Sunday. Partially reversing a 12.62% rally from Saturday, Ripple’s XRP ended the week up by 17.77% to $0.51710.

A bullish start saw Ripple’s XRP rise to an early morning intraday high $0.5458 before hitting reverse.

While falling short of the first major resistance level at $0.5777, Ripple’s XRP broke through the 23.6% FIB of $0.5320.

The reversal, however, saw Ripple’s XRP fall to a late morning intraday low $0.49602 before finding support.

While falling back through the 23.6% FIB, Ripple’s XRP avoided the 38.2% FIB of $0.4632 and the major support levels.

Through the 2nd half of the day, Ripple’s XRP revisited $0.52 levels before falling back to sub-$0.52 levels.

At the time of writing, Ripple’s XRP was down by 1.15% to $0.51114. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.51720 to a low $0.51057.

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 $0.5196 pivot level to bring the first major resistance level at $0.5433 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the 23.6% FIB of $0.5320.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.5458 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.58 levels before any pullback. The second major resistance level sits at $0.5694.

Failure to move through the $0.5196 pivot would bring the first major support level at $0.4935 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 $0.4699 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4935

Pivot Level: $0.5196

First Major resistance Level: $0.5433

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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