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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 27th, 2021

By:
Bob Mason
Updated: Apr 27, 2021, 01:19 UTC

It's a mixed start to the day for the majors. Steering clear of the day's pivot levels would support another breakout day.

E-coins on tablet computer with charts on screen

Ethereum

Ethereum rallied by 9.11% on Monday. Following on from a 4.78% gain on Sunday, Ethereum ended the day at $2,533.99.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,306.03 before making a move.

Steering clear of the first major support level at $2,206, Ethereum rallied to a final hour intraday high $2,541.99.

Ethereum broke through the first major resistance level at $2,398 and the second major resistance level at $2,474 to wrap up the day at $2,500 levels.

At the time of writing, Ethereum was down by 0.97% to $2,509.51. A mixed start to the day saw Ethereum rise to an early morning high $2,550.00 before falling to a low $2,506.03.

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

ETHUSD 270421 Hourly Chart

For the day ahead

Ethereum would need to avoid the pivot level at $2,461 to support a run at the first major resistance level at $2,615.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,600 levels.

Barring an extended crypto rally, the first major resistance level and last week’s swing hi $2,646.2 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,700. The second major resistance level sits at $2,697.

Failure to avoid the $2,461 pivot would bring the first major support level at $2,379 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level at $2,225 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,379

Pivot Level: $2,461

First Major Resistance Level: $2,615

23.6% FIB Retracement Level: $2,041

38.2% FIB Retracement Level: $1,666

62% FIB Retracement Level: $1,061

Litecoin

Litecoin rallied by 10.43% on Monday. Reversing a 0.49% loss from Sunday, Litecoin ended the day at $247.65.

A mixed start to the day saw Litecoin fall to an early morning intraday low $221.25 before making a move.

Steering clear of the first major support level at $212, Litecoin rallied to a late afternoon intraday high $248.36.

Litecoin broke through the first major resistance level at $236.

Coming up against the second major resistance level at $249, Litecoin eased back to $237 levels before ending the day at $247 levels.

At the time of writing, Litecoin was down by 0.69% to $245.94. A mixed start to the day saw Litecoin rise to an early morning high $249.56 before falling to a low $245.78.

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

LTCUSD 270421 Hourly Chart

For the day ahead

Litecoin would need to avoid the $239 pivot level to support a run at the first major resistance level at $257.

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

Barring an extended crypto rally, the first major resistance level and resistance at the 23.6% FIB of $262 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $270. The second major resistance level sits at $266.

Failure to avoid a fall through the $239 pivot level would bring the first majors support level at $230 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $212. The 38.2% FIB of $217 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $230

Pivot Level: $239

First Major Resistance Level: $257

23.6% FIB Retracement Level: $250

38.2% FIB Retracement Level: $207

62% FIB Retracement Level: $138

Ripple’s XRP

Ripple’s XRP surged by 31.66% on Monday. Reversing a 1.88% fall from Sunday, Ripple’s XRP ended the day at $1.3650.

After a mixed start to the day, Ripple’s XRP fall to an early morning intraday low $1.01639 before making a move.

Steering clear of the first major support level at $0.9307, Ripple’s XRP jumped to a final hour intraday high $1.37241.

Ripple’s XRP broke through the first major resistance level at $1.1449 and the second major resistance level at $1.2573.

The day long rally also saw Ripple’s XRP break back through the 38.2% FIB of $1.2807 to end the day at $1.36 levels.

At the time of writing, Ripple’s XRP was up by 1.57% to $1.38645. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.34166 before rising to a high $1.39395.

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

XRPUSD 270421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the 38.2% FIB of $1.2807 and the $1.2513 pivot level to bring the first major resistance level at $1.4861 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.40 levels.

Barring an extended crypto rally, the first major resistance level and resistance at the 23.6% FIB of $1.5426 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.70 levels. The second major resistance level sits at $1.6073.

Failure to avoid a fall through the 38.2% FIB and the $1.2513 pivot would bring the first major support level at $1.1301 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.00 levels. The second major support level sits at $0.8952.

Looking at the Technical Indicators

First Major Support Level: $1.1301

Pivot Level: $1.2513

First Major resistance Level: $1.4861

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

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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