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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 24th, 2021

Ethereum

Ethereum fell by 0.79% on Tuesday. Following a 5.78% slide from Monday, Ethereum ended the day at $1,668.09.

A mixed start to the day saw Ethereum rise to an early morning high $1,714.61 before hitting reverse.

Falling short of the major resistance levels, Ethereum slid to a mid-morning intraday low $1,652.06 before finding support.

Steering clear of the first major support level at $1,623, Ethereum struck a late afternoon intraday high $1,723.61.

Falling short of the first major resistance level at $1,773, Ethereum slid back to sub-$1,700 levels and into the red.

At the time of writing, Ethereum was up by 0.59% to $1,677.99. A mixed start to the day saw Ethereum fall to an early morning low $1,665.47 before rising to a high $1,678.58.

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

ETHUSD 240321 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $1,681 to support a run at the first major resistance level at $1,711.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,700 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1,723.61 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,800 before any pullback. The second major resistance level sits at $1,753.

Failure to move through the $1,681 pivot would bring the first major support level at $1,639 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $1,579. The second major support level at $1,610 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,639

Pivot Level: $1,681

First Major Resistance Level: $1,711

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 0.06% on Tuesday. Following a 5.07% slide from Monday, Litecoin ended the day at $185.85.

A mixed start to the day saw Litecoin rise to an early morning intraday high $189.51 before hitting reverse.

Falling short of the 23.6% FIB and the first major resistance level at $195, Litecoin slid to a late intraday low $180.71.

Finding support at the first major support level at $181, Litecoin move back through to $187 levels before easing back.

At the time of writing, Litecoin was up by 0.32% to $186.45. A mixed start to the day saw Litecoin fall to an early morning low $185.41 before rising to a high $186.66.

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

LTCUSD 240321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $185.36 pivot level to support a run at the first major resistance level at $190.

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

Barring an extended crypto rally, Tuesday’s high $189.51 and the first major resistance level would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at the 23.6% FIB of $195 before any pullback. The second major resistance level sits at $194.

Failure to avoid a fall through the $185 pivot level would bring the first major support level at $181 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $177.

Looking at the Technical Indicators

First Major Support Level: $181

Pivot Level: $185

First Major Resistance Level: $190

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rose by 0.52% on Tuesday. Following on from a 5.26% rally on Monday, Ripple’s XRP ended the day at $0.54963.

A bullish start saw Ripple’s XRP rally to an early morning intraday high $0.59595 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.5880 before falling to a late intraday low $0.53830.

In spite of the sell-off, Ripple’s XRP steered clear of the 23.6% FIB of $0.5320 and the first major support level at $0.5017.

Finding late support, Ripple’s XRP moved back through to $0.55 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.45% to $0.55210. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.54684 before rising to a high $0.55210.

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

XRPUSD 240321 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.5613 pivot level to bring the first major resistance level at $0.5843 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.58 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.59595 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.63 levels before any pullback. The second major resistance level sits at $0.6189.

Failure to move through the $0.5613 pivot would bring the 23.6% FIB of $0.5320 and the first major support level at $0.5266 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.50 levels. The second major support level at $0.5036 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.5266

Pivot Level: $0.5613

First Major resistance Level: $0.5843

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

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

Thanks, Bob