XRP of Ethereum, Litecoin, and Ripple -Daily Tech Analysis -April 29, 2021

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This is a mixed start to the day for big companies. A step through the initial heights will bring the resistance level back into play.

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Ethereum Ethereum rose 3.14% on Wednesday. Ethereum closed the day at $ 2,751.59, after gaining 5.31% on Tuesday.

A mixed start to the day saw a mid-mid intraday low of $ 2,551.00 before Ethereum made a move. Steering clear of the first major support level at $ 2,541, Ethereum rallied for a late intraday and a new swing hi $ 2,762.59. Ethereum broke through the first major resistance level before reverting to $ 2,739.

At the time of writing, Ethereum was down 0.11% at $ 2,748.46. A mixed start to the day saw Ethereum fall to $ 2,732.14 this morning, before hitting a high of $ 2,759.00. Ethereum quickly abandoned major support and resistance levels.

For the day ahead Ethereum would first need to avoid the axle level at $ 2,688 to support a run at the major resistance level of $ 2,826. However, support for Ethereum to break out of Wednesday’s new swing hi $ 2,762.59 would require support from the broader market. Except for the extended crypto rally, the first major resistance level will likely be any reversal.

In the event of a breakout, Ethereum can test resistance for $ 3,000. The second major resistance level is $ 2,900. Failure to avoid the $ 2,688 spindle would bring the first major support level to $ 2,614 in play. However, Ethereum should clear the sub- $ 2,400 levels, preventing an extended sell-off. The second major support level at $ 2,477 should limit the downside.

Looking at technical indicators First Major Support Level: $ 2,614 Pivot Level: $ 2,688 First major resistance level: $ 2,826 23.6% FIB retracement level: $ 2,130 38.2% FIB retracement level: $ 1,738 62% FIB retracement level: $ 1,105

Litecoin

Litecoin fell 0.45% on Wednesday. After partially gaining 5.12% from Tuesday, Litecoin ended the day at $ 258.81. At the start of the day, LTTE saw an intraday high of $ 267.00 rise early in the morning before the reverse hit. While falling short of the first major resistance level at $ 268, Litcoin broke through a 23.6% FIB of $ 232.

The reversal saw Litecoin saw Litecoin fell to a mid-morning intraday low of $ 248.51. With support at the first major support level at $ 248, Litecoin reintroduced the $ 260 level before reverting to the red. At the time of writing, Litecoin was down 0.39% to $ 257.80. A mixed start to the day saw Littiken drop early in the morning to $ 257.00 before rising to a high of $ 259.72. Litcoin quickly dropped major support and resistance levels.

For the day ahead

Litecoin would have to go back through the $ 258 pivot level to support a 23.6% FIB of $ 262 and a run at the first major resistance level at $ 268. However, Litecoin will need support from the broader market to break through Wednesday’s high of $ 267.00. The first major resistance level and resistance at $ 270 will likely be any reversal cap, except for the extended crypto rally.

In the event of a bounce-back, Litecoin may test resistance at $ 285. The second major resistance level is $ 277. Failure to return through the $ 258 spindle level would bring the first major support level to play at $ 249. Barring another extended sell-off, Litecoin should clarify the sub-level of $ 240. The second major support level at $ 240 should limit the downside.

Looking at technical indicators

First Major Support Level: $ 249 Pivot Level: $ 258 First major resistance level: $ 268 23.6% FIB retracement level: $ 250 38.2% FIB retracement level: $ 207 62% FIB retracement level: $ 138

Ripple’s XRP

Ripple’s XRP fell 3.10% on Wednesday. Ripple’s XRP ended the day at $ 1.35998, up 2.94% from Tuesday. After a mixed start to the day, Ripple’s XRP hits a high morning intraday high of $ 1.44908 before hitting Reverse Morning. Ripple’s XRP dropped to $ 1.28600 at the end of early morning, lower than the first major resistance level at $ 1.4682.

Ripple’s XRP fell to the first major support level at $ 1.3344 before re-showing the $ 1.40 level late in the day. However, at the end of the day, Ripple’s XRP looked back in the red. At the time of writing, Ripple’s XRP was up 0.63% to $ 1.36856. The mixed start to the day saw Ripple’s XRP fall from $ 1.34687 to more than $ 1.37136 this morning. Ripple’s XRP quickly dropped major support and resistance levels.

For the day ahead

Ripple’s XRP would need to avoid dropping through the $ 1.3650 pivot level to bring the first major resistance level into play at $ 1.4440. Support from the wider market will be needed, however, for Ripple’s XRP to break back through the $ 1.44 level. Holding the extended crypto rally, the first major resistance level and Wednesday’s high of $ 1.44908 will likely be any reversal cap.

In the event of an extended rally, Ripple’s XRP can test a second major resistance level at $ 1.5281 and resistance at 23.6% FIB of $ 23426. Failure to avoid a fall through the $ 1.3650 pivot will bring the first major support level to $ 1.2810 and 38.2% FIB of $ 1.2807 into play. However, Ripple’s XRP should steer clear of sub-$ 1.20 levels, preventing another extended selloff. The second major support level at $ 1.2019 should limit the downside.

Looking at technical indicators

First major support level: $ 1.2810 Pivot Level: $ 1.3650 First major resistance level: $ 1.4440 23.6% FIB retracement level: $ 1.5426 38.2% FIB retracement level: $ 1.2807 62% FIB retracement level: $ 0.8573 Please tell us what you think in the comments below.

 

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