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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 28th, 2021

By:
Bob Mason
Updated: Apr 28, 2021, 00:46 UTC

It's a bullish start to the day for the majors. Avoiding the day's pivot levels would support another breakout day following Tuesday's gains.

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Ethereum

Ethereum rose by 5.31% on Tuesday. Following on from a 9.11% rally on Monday, Ethereum ended the day at $2,667.86.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,484.56 before making a move.

Steering clear of the first major support level at $2,379, Ethereum rallied to a late afternoon intraday high and a new swing hi $2,683.00.

Ethereum broke through the first major resistance level at $2,615 before easing back to $2,605 levels.

Finding late support, however, Ethereum broke back through the first major resistance level to end the day at $2,660 levels.

At the time of writing, Ethereum was up by 0.76% to $2,677.12. A bullish start to the day saw Ethereum rise from an early morning low $2,667.66 to a new swing hi $2,688.12

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

ETHUSD 280421 Hourly Chart

For the day ahead

Ethereum would need to avoid the pivot level at $2,612 to support a run at the first major resistance level at $2,739.

Support from the broader market would be needed, however, for Ethereum to break through to $2,700 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,850. The second major resistance level sits at $2,810.

Failure to avoid the $2,612 pivot would bring the first major support level at $2,541 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,400 levels. The second major support level at $2,413 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,541

Pivot Level: $2,612

First Major Resistance Level: $2,739

23.6% FIB Retracement Level: $2,069

38.2% FIB Retracement Level: $1,689

62% FIB Retracement Level: $1,075

Litecoin

Litecoin rose by 5.12% on Tuesday. Following on from a 10.43% rally on Monday, Litecoin ended the day at $259.96.

A mixed start to the day saw Litecoin fall to an early morning intraday low $243.81 before making a move.

Steering clear of the first major support level at $230, Litecoin rallied to a late afternoon intraday high $264.00.

Litecoin broke through the first major resistance level at $257 and the 23.6% FIB of $262 before falling back to $255 levels.

Finding late support, however, Litecoin broke back through the first major resistance level to end the day at $259 levels.

At the time of writing, Litecoin was up by 0.81% to $262.07. A bullish start to the day saw Litecoin rise from an early morning low $259.92 to a high $262.50.

While leaving the major support and resistance levels untested early on, Litecoin broke through the 23.6% FIB of $262.

LTCUSD 280421 Hourly Chart

For the day ahead

Litecoin would need to avoid the $256 pivot level to support a run at the first major resistance level at $268.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $264.00.

Barring an extended crypto rally, the first major resistance level and resistance at $270 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $285. The second major resistance level sits at $276.

Failure to avoid a fall through the $256 pivot level would bring the first majors support level at $248 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level sits at $236.

Looking at the Technical Indicators

First Major Support Level: $248

Pivot Level: $256

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 rose by 2.94% on Tuesday. Following Monday’s 31.66% breakout, Ripple’s XRP ended the day at $1.40322.

After a mixed start to the day, Ripple’s XRP rise to an early morning intraday high $1.46435 before hitting reverse.

Falling short of the first major resistance level at $1.4861, Ripple’s XRP fell to an early afternoon intraday low $1.33055.

Steering clear of the 38.2% FIB and the major support levels, Ripple’s XRP revisited $1.43 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.87% to $1.41544. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.40356 to a high $1.41764.

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

XRPUSD 280421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $1.3994 pivot level to bring the first major resistance level at $1.4682 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $1.46435.

Barring an extended crypto rally, the first major resistance level and resistance at $1.50 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $1.5332 and resistance at the 23.6% FIB of $1.5426.

Failure to avoid a fall through the $1.3994 pivot would bring the first major support level at $1.3344 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 $1.2656.

Looking at the Technical Indicators

First Major Support Level: $1.3344

Pivot Level: $1.3994

First Major resistance Level: $1.4682

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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