Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 15th, 2021

Ethereum

Ethereum fell by 3.79% on Sunday. Partially reversing an 8.76% rally from Saturday, Ethereum ended the week up by 7.00% to $1,848.9.

A mixed start to the day saw Ethereum rise to an early morning high $1,931.97 before hitting reverse.

Falling short of the first major resistance level at $2,001, Ethereum slid to a late afternoon intraday low $1,836.61.

Steering clear of the first major support level at $1,785, Ethereum revisited $1,890 levels before ending the day at sub-$1,850.

At the time of writing, Ethereum was up by 1.13% to $1,869.81. A mixed start to the day saw Ethereum fall to an early morning low $1,840.02 before rising to a high $1,884.62.

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 $1,873 to support a run at the first major resistance level at $1,908.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,900 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $1,932.97 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,000 before any pullback. The second major resistance level sits at $1,968.

Failure to move back through the $1,873 pivot would bring the first major support level at $1,813 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level sits at $1,777.

Looking at the Technical Indicators

First Major Support Level: $1,813

Pivot Level: $1,873

First Major Resistance Level: $1,908

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin slid by 5.30% on Sunday. Reversing a 2.38% gain from Saturday, Litecoin ended the week up by 12.20% to $214.11.

A mixed start to the day saw Litecoin rise to an early morning intraday high $227.94 before hitting reverse.

Falling short of the first major resistance level at $233, Litecoin slid to a final hour intraday low $214.00.

The reversal saw Litecoin fall through the first major support level at $216 to end the day at $214 levels.

At the time of writing, Litecoin was up by 0.85% to $215.94. A mixed start to the day saw Litecoin fall to an early morning low $212.42 before rising to a high $218.33.

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 $219 pivot level to support a run at the first major resistance level at $223.

Support from the broader market would be needed, however, for Litecoin to break back through to $220 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $227.94 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $240 before any pullback. The second major resistance level sits at $233.

Failure to move through the $219 pivot level would bring the first major support level at $209 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$200 support levels. The second major support level at $205 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $209

Pivot Level: $219

First Major Resistance Level: $223

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slid by 4.09% on Sunday. Reversing a 4.52% gain from Saturday, Ripple’s XRP ended the week down by 5.63% to $0.43989.

A mixed start saw Ripple’s XRP rise to an early morning intraday high $0.46124 before hitting reverse.

Ripple’s XRP fell short of the 38.2% FIB of $0.4632 and the first major resistance level at $0.4721.

The reversal saw Ripple’s XRP slide to a final hour intraday low $0.43911. In spite of the pullback, Ripple’s XRP avoided the first major support level at $0.4383 and wrapped up the day at $0.498 levels.

At the time of writing, Ripple’s XRP was up by 0.19% to $0.44072. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.43431 before rising to a high $0.44400.

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 $0.4467 pivot level to bring the first major resistance level at $0.4544 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.45 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.46 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at the 38.2% FIB of $0.4632 and the second major resistance level at $0.4689.

Failure to move through the $0.4467 pivot would bring the first major support level at $0.4323 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.42 levels. The second major support level at $0.4246 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4323

Pivot Level: $0.4467

First Major resistance Level: $0.4544

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

More From FXEMPIRE:


Be the first to comment

Leave a Reply

Your email address will not be published.


*