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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 30th, 2021

By:
Bob Mason
Updated: Apr 30, 2021, 00:42 UTC

It's a mixed start to the day for the majors. Failure to revisit early highs would bring support levels into play.

Shiny Ripple crypto-currency background

Ethereum

Ethereum rose by 0.27% on Thursday. Following on from a 3.14% gain on Wednesday, Ethereum ended the day at $2,758.92.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $2,672.00 before making a move.

Steering clear of the first major support level at $2,614, Ethereum rallied to a mid-day intraday high and a new swing hi $2,800.00.

Falling short of the first major resistance level at $2,826, Ethereum fell back to sub-$2,700 levels and into the red.

Finding late support, Ethereum revisited $2,770 levels before easing back.

At the time of writing, Ethereum was down by 0.16% to $2,754.64. A mixed start to the day saw Ethereum rise to an early morning high $2,770.00 before falling to a low $2,753.84.

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

ETHUSD 300421 Hourly Chart

For the day ahead

Ethereum would need to avoid the pivot level at $2,744 to support a run at the first major resistance level at $2,815.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s new swing hi $2,800.00.

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 $3,000. The second major resistance level sits at $2,872.

Failure to avoid the $2,744 pivot would bring the first major support level at $2,687 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,600 levels. The second major support level at $2,616 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,687

Pivot Level: $2,744

First Major Resistance Level: $2,815

23.6% FIB Retracement Level: $2,158

38.2% FIB Retracement Level: $1,761

62% FIB Retracement Level: $1,119

Litecoin

Litecoin fell by 1.27% on Thursday. Following on from a 0.45% decline on Wednesday, Litecoin ended the day at $255.51.

A mixed start to the day saw Litecoin fall to a mid-morning low $250.51 before making a move,

Steering clear of the first major support level at $249, Litecoin rose to a mid-day intraday high $262.99.

While falling short of the first major resistance level at $268, Litecoin broke through the 23.6% FIB of $262 before hitting reverse.

The reversal saw Litecoin fall to a late intraday low $248.75. Finding support at the first major support level at $249, Litecoin moved back through to $255 levels to limit the loss.

At the time of writing, Litecoin was down by 0.32% to $254.69.  mixed start to the day saw Litecoin rise to an early morning high $255.73 before falling to a low $254.69.

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

LTCUSD 300421 Hourly Chart

For the day ahead

Litecoin would need to move through the $256 pivot level to support a run at the 23.6% FIB of $262 and the first major resistance level at $263.

Support from the broader market would be needed, however, for Litecoin to break back through to $260 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $265 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $280. The second major resistance level sits at $270.

Failure to move through the $256 pivot level would bring the first majors support level at $249 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level at $242 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $249

Pivot Level: $256

First Major Resistance Level: $263

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 2.90% on Thursday. Partially reversing a 3.10% gain from Wednesday, Ripple’s XRP ended the day at $1.39984.

After a mixed start to the day, Ripple’s XRP fall to an early morning intraday low $1.32904 before making a move.

Steering clear of the first major support level at $1.2810, Ripple’s XRP rose to a late morning intraday high $1.41900.

Falling short of the first major resistance level at $1.4440, Ripple’s XRP fell back to sub-$1.35 levels and into the red.

Finding late support, however, Ripple’s XRP moved back through to $1.39 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.67% to $1.39046. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.40363 before falling to a low $1.39046.

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

XRPUSD 300421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $1.3826 pivot level to bring the first major resistance level at $1.4362 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $1.41900.

Barring an extended crypto rally, the first major resistance level and resistance at $1.45 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.50 before any pullback. The second major resistance level sits at $1.4726.

Failure to avoid a fall through the $1.3826 pivot would bring the first major support level at $1.3463 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 $1.2927.

Looking at the Technical Indicators

First Major Support Level: $1.3463

Pivot Level: $1.3826

First Major resistance Level: $1.4362

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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