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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 13th, 2021

By:
Bob Mason
Updated: Apr 13, 2021, 00:46 UTC

It's a mixed start to the day for the majors this morning. A move back through this morning's highs would be needed to support a run at the resistance levels.

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Ethereum

Ethereum fell by 0.58% on Monday. Partially reversing a 0.82% gain from Sunday, Ethereum ended the day at $2,138.03.

A mixed start to the day saw Ethereum rise to a mid-morning intraday high and a new swing hi $2,199.11 before hitting reverse.

Ethereum broke through the first major resistance level at $2,172 and the second major resistance level at $2,193.

Coming up against resistance at $2,200, Ethereum slid to a late afternoon intraday low $2,102.55.

The reversal saw Ethereum fall through the first major support level at $2,121 before ending the day at $2,138 levels.

At the time of writing, Ethereum was up by 0.21% to $2,142.50. A mixed start to the day saw Ethereum fall to an early morning low $2,135.90 before rising to a high $2,145.19.

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

ETHUSD 130421 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $2,147 to support a run at the first major resistance level at $2,191.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,190 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s new swing hi $2,199.11 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,300 before any pullback. The second major resistance level sits at $2,243.

Failure to move through the $2,147 pivot would bring the first major support level at $2,094 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,050 levels. The second major support level at $2,050 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,094

Pivot Level: $2,147

First Major Resistance Level: $2,191

23.6% FIB Retracement Level: $1,699

38.2% FIB Retracement Level: $1,390

62% FIB Retracement Level: $890

Litecoin

Litecoin fell by 3.15% on Monday. Following on from a 1.49% decline on Sunday, Litecoin ended the day at $244.35.

A bullish start to the day saw Litecoin rise to a late morning intraday high $258.69 before hitting reverse.

Falling short of the first major resistance level at $261, Litecoin fell to a mid-afternoon intraday low $240.14.

Litecoin fell through the first major support level at $246 before briefly revisiting $247 levels late in the day.

A bearish end to the day, however, saw Litecoin fall back through the first major support level to end the day at $244 levels.

At the time of writing, Litecoin was up by 0.75% to $246.19. A bullish start to the day saw Litecoin rise from an early morning low $244.33 to a high $246.24.

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

LTCUSD 130421 Hourly Chart

For the day ahead

Litecoin would need to move through the $248 pivot level to support a run at the first major resistance level at $255.

Support from the broader market would be needed, however, for Litecoin to break out from $250 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $258.69 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $266.

Failure to move through the $248 pivot level would bring the first major support level at $237 into play.

Barring an extended sell-off, Litecoin should steer well clear of the second major support level at $229.

Looking at the Technical Indicators

First Major Support Level: $237

Pivot Level: $248

First Major Resistance Level: $255

23.6% FIB Retracement Level: $207

38.2% FIB Retracement Level: $172

62% FIB Retracement Level: $116

Ripple’s XRP

Ripple’s XRP rallied by 8.71% on Monday. Reversing a 1.32% fall from Sunday, Ripple’s XRP ended the day at $1.46819.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.31763 before making a move.

Steering clear of the first major support level at $1.2623, Ripple’s XRP rallied to a final hour intraday high $1.47648.

Ripple’s XRP broke through the first major resistance level at $1.4696 before easing back.

At the time of writing, Ripple’s XRP was down by 1.09% to $1.45222. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.47955 before falling to a low $1.44571.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 130421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $1.4208 pivot level to bring the first major resistance level at $1.5239 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $1.47955.

Barring an extended crypto rally, the first major resistance level and Sunday’s new swing hi $1.49667 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.60 levels before any pullback. The second major resistance level sits at $1.5796.

Failure to avoid a fall through the $1.4208 pivot would bring the first major support level at $1.3651 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.30 levels. The second major support level sits at $1.2619.

Looking at the Technical Indicators

First Major Support Level: $1.3651

Pivot Level: $1.4208

First Major resistance Level: $1.5239

23.6% FIB Retracement Level: $1.1841

38.2% FIB Retracement Level: $0.9907

62% FIB Retracement Level: $0.6781

Please let us know what you think in the comments below.

Thanks, Bob

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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