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

Ethereum

Ethereum rallied by 7.13% on Friday. Following on from a 0.32% gain on Thursday, Ethereum ended the day at $1,700.10.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,586.81 before making a move.

Steering clear of the 23.6% FIB of $1,579 and the first major support level at $1,550, Ethereum rallied to a late intraday high $1,700.70.

Ethereum broke through the first major resistance level at $1,624 and the second major resistance level at $1,660.

Resistance at $1,700 pegged Ethereum back late in the day.

At the time of writing, Ethereum was up by 0.74% to $1,712.74. A bullish start to the day saw Ethereum rise from an early morning low $1,699.97 to a high $1,716.54.

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

ETHUSD 270321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,663 to support a run at the first major resistance level at $1,738.

Support from the broader market would be needed, however, for Ethereum to break out from this morning’s high $1,716.54.

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 $1,850 before any pullback. The second major resistance level sits at $1,776.

Failure to avoid a fall through the $1,663 pivot would bring the first major support level at $1,624 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,549. The 23.6% FIB of $1,579 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,624

Pivot Level: $1,663

First Major Resistance Level: $1,738

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rallied by 7.10% on Friday. Reversing a 2.54% loss from Thursday, Litecoin ended the day at $183.70.

A mixed start to the day saw Litecoin fall to an early morning intraday low $171.47 before making a move.

Steering clear of the first major support level at $167, Litecoin rose to a late intraday high $183.93.

Litecoin broke through the first major resistance level at $177 and the second major resistance level at $183.

A late pullback, however, saw Litecoin briefly fall back through the second major resistance level before wrapping up the day at $183.70 levels.

At the time of writing, Litecoin was up by 0.26% to $184.18. A mixed start to the day saw Litecoin fall to an early morning low $183.50 before rising to a high $184.61.

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

LTCUSD 270321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $180 pivot level to support a run at the first major resistance level at $188.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $184.61.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at 23.6% FIB of $195 before any pullback. The second major resistance level sits at $192.

Failure to avoid a fall through the $180 pivot level would bring the first major support level at $176 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $167.

Looking at the Technical Indicators

First Major Support Level: $176

Pivot Level: $180

First Major Resistance Level: $188

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP jumped by 10.37% on Friday. Following on from a 6.66% gain on Thursday, Ripple’s XRP ended the day at $0.56346.

A bullish start saw Ripple’s XRP rally from an early morning intraday low $0.51053 to a late morning intraday high $0.57628.

Ripple’s XRP broke through the first major resistance level at $0.5385 and the second major resistance level at $0.5648.

More significantly, also broke back through the 23.6% FIB of $0.5320.

Through the second half of the day, Ripple’s XRP fell back through the second major resistance level to sub-$0.55 levels.

Finding late support, however, Ripple’s XRP briefly broke back through the second major resistance level before ending the day at sub-$0.5640 levels.

At the time of writing, Ripple’s XRP was up by 0.94% to $0.56878. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.56749 to a high $0.57126.

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

XRPUSD 270321 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.5501 pivot level to bring the first major resistance level at $0.5897 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.57628.

Barring an extended crypto rally, the first major resistance level and resistance at $0.60 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.62 levels before any pullback. The second major resistance level sits at $0.6158.

Failure to avoid a fall through the $0.0.5501 pivot would bring the 23.6% FIB of $0.5320 and the first major support level at $0.5239 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.50 levels. The second major support level sits at $0.4843.

Looking at the Technical Indicators

First Major Support Level: $0.5239

Pivot Level: $0.5501

First Major resistance Level: $0.5897

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