Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 12th, 2021

Ethereum

Ethereum rose by 1.75% on Thursday. Partially reversing a 4.09% slide from Wednesday, Ethereum ended the day at $1,827.04.

A mixed start to the day saw Ethereum rise to an early morning high $1,815.22 before hitting reverse.

Falling short of the first major resistance level at $1,864, Ethereum fell to a late morning intraday low $1,725.00.

The sell-off saw Ethereum fall through the first major support level at $1,741 before finding support.

Steering clear of sub-$1,700 levels, Ethereum rallied to a late intraday high $1,847.00.

Continuing to fall short of the first major resistance level at $1,864, Ethereum eased back to end the day at sub-$1,830 levels.

At the time of writing, Ethereum was down by 0.12% to $1,824.91. A mixed start to the day saw Ethereum rise to an early morning high $1,841.96 before falling to a low $1,821.33.

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

ETHUSD 120321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,800 to support a run at the first major resistance level at $1,874.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $1,847.00.

Barring an extended crypto rally, the first major resistance level and resistance at $1,900 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,950 before any pullback. The second major resistance level sits at $1,922.

Failure to avoid a fall through the $1,800 pivot would bring the first major support level at $1,752 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,678.

Looking at the Technical Indicators

First Major Support Level: $1,752

Pivot Level: $1,800

First Major Resistance Level: $1,874

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 0.57% on Thursday. Partially reversing a 1.86% decline from Wednesday, Litecoin ended the day at $201.47.

A mixed start to the day saw Litecoin rise to an early morning high $202.23 before hitting reverse.

Falling short of the first major resistance level at $208, Litecoin fell to a late morning intraday low $191.08.

The morning sell-off saw Litecoin fall through the 23.6% FIB of $195 and the first major support level at $191.64.

Steering clear of sub-$190, Litecoin rallied to a final hour intraday high $203.45 before easing back to $201 levels.

While breaking back through the first major support level and 23.6% FIB, Litecoin came up short of the first major resistance level at $208.

At the time of writing, Litecoin was down by 0.10% to $201.27. A mixed start to the day saw Litecoin rise to an early morning high $203.37 before falling to a low $200.37.

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

LTCUSD 120321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $199 pivot level to support a run at the first major resistance level at $206.

Support from the broader market would be needed, however, for Litecoin to break out from $205 levels.

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

In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $211.

Failure to avoid a fall through the $199 pivot level would bring 23.6% FIB of $195 and the first major support level at $194 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level sits at $186.

Looking at the Technical Indicators

First Major Support Level: $194

Pivot Level: $199

First Major Resistance Level: $206

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 2.06% on Thursday. Following a 4.77% slide on Wednesday, Ripple’s XRP ended the day at $0.45208.

It was another choppy day. Ripple’s XRP rose to an early morning intraday high $0.46384 before hitting reverse.

While falling short of the first major resistance level at $0.4823, Ripple’s XRP broke through the 38.2% FIB of $0.4632.

The reversal saw Ripple’s XRP slide to a late morning intraday low $0.44100. Ripple’s XRP fell through the first major support level at $0.4488.

Finding late morning support, Ripple’s XRP revisited $0.458 levels before easing back.

The first major support level at $0.4488 was tested for a 2nd time late in the day before a recovery to $0.45 levels.

At the time of writing, Ripple’s XRP was down by 0.59% to $0.44940. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.45353 before falling to a low $0.44916.

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

XRPUSD 120321 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.4523 pivot level to bring the 38.2% FIB and the first major resistance level at $0.4636 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.46 levels.

Barring an extended crypto rally, the first major resistance level and 38.2% FIB would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.48 before any pullback. The second major resistance level sits at $0.4751.

Failure to move through the $0.4523 pivot would bring the first major support level at $0.4408 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.42 levels. The second major support level at $0.4295 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4408

Pivot Level: $0.4523

First Major resistance Level: $0.4636

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

The Crypto Daily – Movers and Shakers – March 12th, 2021

Bitcoin, BTC to USD, rallied by 3.44% on Thursday. Following on from a 1.87% gain on Wednesday, Bitcoin ended the day at $57,877.0.

It was a mixed start to the day. Bitcoin slid from an early morning high $56,537.9 to a late morning intraday low $54,401.0.

Steering clear of the first major support level at $53,612, Bitcoin rallied to a late intraday high $58,266.0.

Bitcoin broke through the first major resistance level at $57,901 before falling back to sub-$57,900 levels.

The near-term bullish trend remained intact supported by the latest visit to $58,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Cardano’s ADA (-0.69%), Polkadot (-4.99%), and Ripple’s XRP (-2.06%) saw red to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Crypto.com Coin rallied by 6.61% to lead the way, Binance Coin with rising by 4.14%.

Bitcoin Cash SV (+0.04%), Chainlink (+0.81%), Ethereum (+1.75%), and Litecoin (+0.57%) saw relatively modest gains on the day.

In the current week, the crypto total market fell to a Monday low $1,508bn before rising to a Thursday high $1,769bn. At the time of writing, the total market cap stood at $1,727bn.

Bitcoin’s dominance fell to a Tuesday low 60.13% before rising to a Thursday high 62.57%. At the time of writing, Bitcoin’s dominance stood at 62.35%.

This Morning

At the time of writing, Bitcoin was down by 0.19% to $57,765.0. A mixed start to the day saw Bitcoin rise to an early morning high $58,159.0 before falling to a low $57,530.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-1.04%), Cardano’s ADA (-0.18%), Litecoin (-0.02%), and Ripple’s XRP (-0.59%) also joined Bitcoin in the red.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 3.68% to lead the way.

BTCUSD 120321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $56,848 to bring the first major resistance level at $59,295 into play.

Support from the broader market would be needed for Bitcoin to break out from February’s swing hi $58,321.2.

Barring an extended crypto rally, the first major resistance level and resistance at $60,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $62,000. The second major resistance level sits at $60,713.

Failure to avoid a fall through the $56,848 pivot would bring the first major support level at $55,430 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear sub-$54,000 levels. The second major support level sits at $52,983.

Bitcoin Maintains Upswing As Ethereum’s All Time High Journey Sees Roadblock

Bitcoin has maintained a steady upswing, despite the bear forces that seem to be active in the markets today. Ethereum is showing bearish tendencies, as altcoins including Cardano (ADA), Polkadot (DOT), XRP (XRP), Uniswap (UNI), and Chainlink (LINK) are all also bowing to the dictatorship of the bears.

In general, the dominant stride of Bitcoin has kept the global market capitalization in the green zone, up 2.13% in the past 24 hours to $1.69 trillion. This article today focuses on the price actions of Bitcoin and Ethereum, and the possible short and medium-term projections for the two leading digital assets.

Bitcoin’s Demand Remains High, A Bullish Backing For an Ambitious Ride

Bitcoin’s dominance in the market is not about to be pulled down as many analysts have suggested as the premier cryptocurrency is continuously seeing increased demand, from both retail and institutional investors.

In a bid to meet this demand, American investment banking giant JPMorgan Chase & Co filed an application with the United States Securities and Exchange Commission (SEC) to launch an investment vehicle that will track the performance of 11 firms including MicroStrategy and Tesla with direct or indirect exposure to Bitcoin. The primary aim of the move is to give more institutional investors a new option to get involved in Bitcoin without directly owning the digital currency.

In terms of the rub off on the price of the asset, BTC bulls are delighted by the news from JPMorgan Chase, but the immediate pressure from undecided HODLers to offload some of their holdings is casting doubt on the imminent bullish runs to new highs. Despite the maintenance of an uptrend with a growth of 3% to $55,580.00 according to CEX.IO price feeds, the bear actions are still visible on the daily BTC-USD chart on TradingView.

The chart shows a bullish trend, indicating that there are more buyers than sellers in the past 24 hours. However, the last candlestick shown on the chart is bearish, a depiction of an attempted takeover by the bears. By and large, BTC’s Relative Strength Index (RSI) is currently slightly below the sell-zone of 70, but the 9-day Moving Average is bullish, reassuring market enthusiasts on an imminent ride to new highs.

From current indications, Bitcoin may see a little correction to retouch $54,000, after which, a run to $58,000 will be the next stop.

Ethereum’s Push For Network Usability and Miner’s Protest Giving a Bearish Advantage

The high gas fees of the Ethereum Network have spurred many users to abandon the blockchain in search of alternative blockchains that offer cheap and fast transactions. Nonetheless, the majority of the Stablecoins out there including Tether (USDT) and USDC are still utilizing the network, helping to maintain the relevance amid planned exodus by DeFi smart contracts.

While anticipating the initiation of the Ethereum Improvement Protocol (EIP) 1559 in July, Some Ethereum miners are in protest as the planned token burning is set to affect their personal profitability. Perhaps, this is why the price of Ethereum is seeing a roadblock on its way to beat the $2,000 psychological level.

At the time of writing, Ethereum is exchanging hands at $1,782.72, a drop of 1.48% in the past 24 hours. Ethereum has traded below the $2,000 level since February 20th, and the current internal battles are undermining the mainstream investor’s desire to see the coin trade at new levels.

The daily ETH-USD chart above shows the unrelenting battle between the bulls and the bears. Though the Awesome Oscillator is above the zero benchmarks, the price is not entirely at a trusted level to soar, as it is racing away from the upper Bollinger Band as seen.

The hurdles to cross are the $1,900 and the $2,000 resistance levels, but until the bulls break free from the $1,800 level, soaring to these levels may yet be halted for a while. But a consistent push will see the coin back on track to aim at the $2,500 target in the mid-term.

Konstantin Anissimov, Executive Director at CEX.IO

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 11th, 2021

Ethereum

Ethereum slid by 4.09% on Wednesday. Reversing a 2.02% gain from Tuesday, Ethereum ended the day at $1,795.37.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,879.00 before hitting reverse.

Falling short of the first major resistance level at $1,896, Ethereum fell to an early morning intraday low $1,756.29.

The sell-off saw Ethereum fall through the first major support level at $1,824 and the second major support level at $1,776.

Finding late morning support, Ethereum broke back through the support levels to briefly revisit $1,860 levels.

A bearish end to the day, however, saw Ethereum fall back through the first major support level to end the day at sub-$1,800.

At the time of writing, Ethereum was down by 0.84% to $1,780.20. A mixed start to the day saw Ethereum rise to an early morning high $1,798.23 before falling to a low $1,770.00

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

ETHUSD 110321 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $1,810 to support a run at the first major resistance level at $1,864.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,850 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $1,900 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,950 before any pullback. The second major resistance level sits at $1,933.

Failure to move through the $1,810 pivot would bring the first major support level at $1,741 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,688.

Looking at the Technical Indicators

First Major Support Level: $1,741

Pivot Level: $1,810

First Major Resistance Level: $1,864

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin fell by 1.86% on Wednesday. Partially reversing a 6.29% rally from Tuesday, Litecoin ended the day at $200.23.

A mixed start to the day saw Litecoin fall from an early morning high $207.79 to an early morning intraday low $191.23.

Litecoin fell through the 23.6% FIB of $195 and the first major support level at $194 before striking a late intraday high $208.00.

Falling short of the first major resistance level at $210, Litecoin slid back to $196 levels before ending the day at $200 levels.

At the time of writing, Litecoin was down by 0.81% to $198.60. A mixed start to the day saw Litecoin rise to an early morning high $201.69 before falling to a low $197.68.

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

LTCUSD 110321 Hourly Chart

For the day ahead

Litecoin would need to move back through the $200 pivot level to support a run at the first major resistance level at $208.

Support from the broader market would be needed, however, for Litecoin to break out from $205 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $217.

Failure to move back through the $200 pivot level would bring 23.6% FIB of $195 and the first major support level at $192 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $183.

Looking at the Technical Indicators

First Major Support Level: $192

Pivot Level: $200

First Major Resistance Level: $208

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slid by 4.77% on Wednesday. Reversing a 2.38% gain from Tuesday, Ripple’s XRP ended the day at $0.46237.

It was another choppy day. Ripple’s XRP rose to an early morning intraday high $0.48865 before hitting reverse.

Falling short of the first major resistance level at $0.4917, Ripple’s XRP tumbled to an early morning intraday low $0.45521.

Ripple’s XRP fell through the first major support level at $0.4754 and the second major support level at $0.4653.

More significantly, Ripple’s XRP also fell through the 38.2% FIB of $0.4632.

Steering clear of sub-$0.45 levels, Ripple’s XRP revisited $0.472 levels before falling back into the deep red.

Ripple’s XRP had briefly broken back through the 38.2% FIB and the second major support level before revisiting sub-$0.46 levels.

A late move back through to $0.46 levels reduced the deficit on the day. The 38.2% FIB pinned Ripple’s XRP back late on, however.

At the time of writing, Ripple’s XRP was down by 0.58% to $0.45971. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.46161 to a low $0.45703.

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

XRPUSD 110321 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the 38.2% FIB and the $0.4687 pivot level to bring the first major resistance level at $0.4823 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.48 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.49 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.50 before any pullback. The second major resistance level sits at $0.5022.

Failure to move through the 38.2% FIB and the $0.4687 pivot would bring the first major support level at $0.4488 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.43 levels. The second major support level at $0.4353 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4488

Pivot Level: $0.4687

First Major resistance Level: $0.4823

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

The Crypto Daily – Movers and Shakers – March 10th, 2021

Bitcoin, BTC to USD, rallied by 4.88% on Tuesday. Following a 2.72% gain on Monday, Bitcoin ended the day at $54,955.3.

A mixed start to the day saw Bitcoin fall from an early morning high $51,993 before making a move.

Steering clear of the first major support level at $50,364, Bitcoin rallied to an early afternoon high $54,839.0.

Bitcoin broke through the first major resistance level at $53,439 and the second major resistance level at $54,479.

A late pullback saw Bitcoin fall back through the second major resistance level to sub-$53,800 levels.

Finding late support, however, Bitcoin broke back through the second major resistance level to strike an end of day intraday high $54,955.3.

The near-term bullish trend remained intact supported by the return to $54,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Bitcoin Cash SV (-0.23%) and Chainlink (-1.01%) saw red to buck the trend on the day.

It was a bullish day for the rest of the majors.

Binance Coin  surged by 21.95% to lead the way.

Cardano’s ADA (+7.03%), Crypto.com Coin (+5.67%), Litecoin (+6.29%), and Polkadot (+4.21%) also found strong support.

Ethereum (+2.02%) and Ripple’s XRP (+2.38%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $1,508bn before rising to a Tuesday high $1,700bn. At the time of writing, the total market cap stood at $1,696bn.

Bitcoin’s dominance rose to a Tuesday high 61.71% before falling to a Tuesday low 60.13. At the time of writing, Bitcoin’s dominance stood at 61.06%.

This Morning

At the time of writing, Bitcoin was up by 1.17% to $55,600.0. A mixed start to the day saw Bitcoin fall to an early morning low $54,900.0 before rising to a high $55,666.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.76%), Ethereum (-0.20%), and Polkadot (-0.87%) saw red to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 1.68% to lead the way.

BTCUSD 100321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $53,967 to bring the first major resistance level at $55,943 into play.

Support from the broader market would be needed for Bitcoin to break out from this morning’s high $55,666.0.

Barring an extended crypto rally, the first major resistance level and resistance at $56,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at February’s swing hi $58,321.2 before any pullback. The second major resistance level sits at $56,930.

Failure to avoid a fall through the $53,967 pivot would bring the first major support level at $52,980 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear sub-$52,000 levels. The second major support level sits at $51,006.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 10th, 2021

Ethereum

Ethereum rose by 2.02% on Tuesday. Following on from a 6.17% rally on Monday, Ethereum ended the day at $1,871.99.

A mixed start to the day saw Ethereum rise to an early morning high $1,859.62 before hitting reverse.

Falling short of the major resistance levels, Ethereum fell to a mid-day intraday low $1,800.00 before finding support.

Steering clear of the first major support level at $1,718, Ethereum rallied to a final hour intraday high $1,872.26.

In spite of the late rally, Ethereum came up short of the first major resistance level at $1,898 on the day.

At the time of writing, Ethereum was down by 0.19% to $1,868.34. A mixed start to the day saw Ethereum rise to an early morning high $1,878.00 before falling to a low $1,865.65.

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

ETHUSD 100321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,848 to support a run at the first major resistance level at $1,896.

Support from the broader market would be needed, however, for Ethereum to break out from this morning’s high $1,878.00.

Barring an extended crypto rally, the first major resistance level and resistance at $1,900 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,950 before any pullback. The second major resistance level sits at $1,920.

Failure to avoid a fall through the $1,848 pivot would bring the first major support level at $1,824 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level sits at $1,776.

Looking at the Technical Indicators

First Major Support Level: $1,824

Pivot Level: $1,848

First Major Resistance Level: $1,896

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rallied by 6.29% on Tuesday. Following on from a 0.56% gain on Monday, Litecoin ended the day at $203.98.

A mixed start to the day saw Litecoin fall to an early morning intraday low $189.01 before making a move.

Finding support at the first major support level at $189, Litecoin rallied to a late intraday high $205.20.

Litecoin broke through the 23.6% FIB of $195 and the day’s major resistance levels.

A late pullback, however, saw Litecoin fall back through the third major resistance level at $205 to end the day at sub-$204 levels.

At the time of writing, Litecoin was down by 0.03% to $203.91. A mixed start to the day saw Litecoin rise to an early morning high $205.27 before falling to a low $203.29.

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

LTCUSD 100321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $199 pivot level to support a run at the first major resistance level at $210.

Support from the broader market would be needed, however, for Litecoin to break out from thus morning’s high $205.27.

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

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $216.

Failure to avoid a fall through the $199 pivot level would bring 23.6% FIB of $195 and the first major support level at $194 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $183.

Looking at the Technical Indicators

First Major Support Level: $194

Pivot Level: $199

First Major Resistance Level: $210

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 2.38% on Tuesday. Following on from a 1.78% gain on Monday, Ripple’s XRP ended the day at $0.48555.

It was another choppy start to the day. Ripple’s XRP fell to an early morning intraday low $0.47140 before making a move.

Steering clear of the first major support level at $0.4568, Ripple’s XRP rallied to an early morning intraday high $0.48768.

Falling short of the first major resistance level at $0.4908, Ripple’s XRP fell back to sub-$0.48 levels before a late move back through to $0.48 levels.

At the time of writing, Ripple’s XRP was up by 0.18% to $0.48642. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.48555 to a high $0.48865.

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

XRPUSD 100321 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.4815 pivot level to bring the first major resistance level at $0.4917 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $0.48865.

Barring an extended crypto rally, the first major resistance level and resistance at $0.49 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.50 before any pullback. The second major resistance level sits at $0.4978.

Failure to avoid a fall through the $0.4815 pivot would bring the first major support level at $0.4754 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.47 levels. The second major support level sits at $0.4653.

Looking at the Technical Indicators

First Major Support Level: $0.4754

Pivot Level: $0.4815

First Major resistance Level: $0.4917

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

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 9th, 2021

Ethereum

Ethereum rallied by 6.17% on Monday. Following on from a 4.63% gain on Sunday, Ethereum ended the day at $1,834.58.

A mixed start to the day saw Ethereum fall to a late morning intraday low $1,664.08 before making a move.

Steering clear of the first major support level at $1,661, Ethereum rallied to a final hour intraday high $1,843.99.

Ethereum broke through the first major resistance level at $1,765 and the second major resistance level at $1,802 to end the day at $1,830 levels.

At the time of writing, Ethereum was down by 0.30% to $1,829.00. A mixed start to the day saw Ethereum rise to an early morning high $1,845.00 before falling to a low $1,824.35.

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

ETHUSD 090321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,781 to support a run at the first major resistance level at $1,898.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $1,845.00.

Barring an extended crypto rally, the first major resistance level and resistance at $1,900 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,000 before any pullback. The second major resistance level sits at $1,961.

Failure to avoid a fall through the $1,781 pivot would bring the first major support level at $1,718 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,700 levels. The second major support level sits at $1,601.

Looking at the Technical Indicators

First Major Support Level: $1,718

Pivot Level: $1,781

First Major Resistance Level: $1,898

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 0.56% on Monday. Following on from a 4.30% gain on Sunday, Litecoin ended the day at $191.90.

A bullish start to the day saw Litecoin rise to an early morning intraday high $195.22 before hitting reverse.

Coming up against the first major resistance level at $195 and the 23.6% FIB, Litecoin fell to a late morning intraday low $189.00.

Steering clear of the first major support level at $185, Litecoin moved back through to $191 levels to end the day in the green.

At the time of writing, Litecoin was down by 0.39% to $191.16. A mixed start to the day saw Litecoin rise to an early morning high $193.49 before falling to a low $191.08.

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

LTCUSD 090321 Hourly Chart

For the day ahead

Litecoin would need to move back through the $192 pivot level to support a run at the first major resistance level at $195 and the 23.6% FIB.

Support from the broader market would be needed, however, for Litecoin to break back through to $194 levels.

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

In the event of an extended rally, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $198.

Failure to move  back through the $192 pivot level would bring the first major support level at $189 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$180 levels. The second major support level at $186 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $189

Pivot Level: $192

First Major Resistance Level: $195

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 a 1.78% on Monday. Following a 0.33% gain on Sunday, Ripple’s XRP ended the day at $0.47441.

It was another choppy start to the day. Ripple’s XRP fell to a late morning intraday low $0.45557 before making a move.

The sell-off saw Ripple’s XRP fall through the first major support level at $0.4590.

Finding late morning support, Ripple’s XRP rallied to a late morning intraday high $0.48957.

Ripple’s XRP broke through the day’s major resistance levels before falling back to sub-$0.47 levels.

The pullback saw Ripple’s XRP fall back through the day’s major resistance levels before revisiting $0.483 levels.

Ripple’s XRP broke back through the first major resistance level at $0.4707 and the second major resistance level at $0.4756.

Easing back late in the day, however, Ripple’s XRP fell back through the second major resistance level to end the day at $0.474 levels.

At the time of writing, Ripple’s XRP was up by 0.04% to $0.47462. A mixed start to the day saw Ripple’s XRP rise to an early high $0.47578 before falling to a low $0.47403.

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

XRPUSD 090321 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.4732 pivot level to bring the first major resistance level at $0.4908 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.48957.

Barring an extended crypto rally, the first major resistance level and resistance at $0.50 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.51 before any pullback. The second major resistance level sits at $0.5072.

Failure to avoid a fall through the $0.4732 pivot would bring the 38.2% FIB of $0.4632 and the first major support level at $0.4568 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.45 levels. The second major support level sits at $0.4392.

Looking at the Technical Indicators

First Major Support Level: $0.4568

Pivot Level: $0.4732

First Major resistance Level: $0.4908

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

Buy Ethereum with Binance

The Crypto Daily – Movers and Shakers – March 8th, 2021

Bitcoin, BTC to USD, rallied by 4.31% on Sunday. Following a 0.07% gain from Saturday, Bitcoin ended the week up by 12.62% to $51,000.00.

A bullish start to the day saw Bitcoin rally to late afternoon high $51,350.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $49,679 and the second major resistance level at $50,498.

The pullback saw Bitcoin slide back to $49,700 levels before a late rally.

Finding support at the first major resistance level at $49,679, Bitcoin rallied to a final hour intraday high $51,442.0.

Bitcoin broke back through the second major resistance level at $50,498 to wrap up the week at $51,000 levels.

The near-term bullish trend remained intact supported by the return to $51,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Sunday.

Binance Coin  (+5.95%) and Crypto.com Coin (+5.53%) led the way.

Bitcoin Cash SV (+4.11%), Ethereum (+4.63%), and  Litecoin (+4.30%) also found strong support.

Cardano’s ADA (+0.02%), Chainlink (+1.67%), Polkadot (+0.87%), and Ripple’s XRP (+0.33%) trailed the front runners, however.

For the week, it was a mixed week for the majors, however.

Cardano’s ADA slid by 14.14% to lead the way down, with Polkadot falling by 7.97% to buck the trend.

It was a bullish week for the rest of the majors.

Crypto.com Coin and Ethereum rallied by 20.78% and by 21.55% respectively to lead the way.

Binance Coin (+13.89%), Chainlink (+15.63%), Litecoin (+15.20%), and Ripple’s XRP (+11.88%) also found strong support.

Bitcoin Cash SV (+8.32%) trailed the front runners, however.

In the week, the crypto total market fell to a Monday low $1,347bn before rising to a Wednesday high $1,600bn. At the time of writing, the total market cap stood at $1,567bn.

Bitcoin’s dominance rose to a Tuesday high 62.40% before falling to a Saturday low 60.44%. At the time of writing, Bitcoin’s dominance stood at 61.13%.

This Morning

At the time of writing, Bitcoin was up by 1.18% to $51,603.0. A mixed start to the day saw Bitcoin fall to an early morning low $50,891.0 before rising to a high $51,682.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.44%), Bitcoin Cash SV (-0.75%), and Polkadot (-0.74%) saw red early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 2.25% to lead the way.

BTCUSD 080321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $50,446 to bring the first major resistance level at $51,996 into play.

Support from the broader market would be needed for Bitcoin to break out from this morning’s high $51,682.0.

Barring an extended crypto rally, the first major resistance level and resistance at $52,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $54,000 before any pullback. The second major resistance level sits at $52,993.

Failure to avoid a fall through the $50,446 pivot would bring the first major support level at $49,449 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear sub-$49,000 levels. The second major support level sits at $47,899.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 8th, 2021

Ethereum

Ethereum rose by 4.63% on Sunday. Following an 8.05% rally from Saturday, Ethereum ended the week up by 21.55% to $1,728.22.

Relatively range-bound through most of the day, Ethereum fell to an early afternoon intraday low $1,631.07 before making a move.

Steering clear of the first major support level at $1,559, Ethereum rallied to a final hour intraday high $1,735.00.

Ethereum broke through the first major resistance level at $1,698 to end the week at $1,700 levels.

At the time of writing, Ethereum was up by 1.10% to $1,747.17 A bullish start to the day saw Ethereum rise from an early morning low $1,727.95 to a high $1,751.94.

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

ETHUSD 080321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,698 to support another run at the first major resistance level at $1,765.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $1,751.94.

Barring an extended crypto rally, the first major resistance level and resistance at $1,800 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 $1,802.

Failure to avoid a fall through the $1,698 pivot would bring the first major support level at $1,661 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,600 levels. The second major support level sits at $1,594.

Looking at the Technical Indicators

First Major Support Level: $1,661

Pivot Level: $1,698

First Major Resistance Level: $1,765

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rallied by 4.30% on Sunday. Following on from a 1.38% gain on Saturday, Litecoin ended the week up by 15.20% to $190.74

A mixed start to the day saw Litecoin fall to a mid-morning intraday low $182.33 before making a move.

Steering clear of the first major support level at $177, Litecoin rallied to a final hour intraday high $192.14.

Litecoin broke through the first major resistance level at $187 and the second major resistance level at $190 to end the week at $190 levels.

At the time of writing, Litecoin was up by 1.73% to $194.04. A bullish start to the day saw Litecoin rise from an early morning low $190.70 to a high $194.84.

Litecoin tested the first major resistance level at $195 and the 23.6% FIB of $195 early on.

LTCUSD 080321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $188 pivot level to support another run at the first major resistance level at $195 and the 23.6% FIB.

Support from the broader market would be needed, however, for Litecoin to hold onto $194 levels early on.

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

In the event of an extended rally, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $198.

Failure to avoid a fall through the $188 pivot level would bring the first major support level at $185 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $179.

Looking at the Technical Indicators

First Major Support Level: $185

Pivot Level: $188

First Major Resistance Level: $195

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 a modest 0.33% on Sunday. Following on from a 1.79% gain on Saturday, Ripple’s XRP ended the week up by 11.88% to $0.46613.

It was a choppy start to the day. Ripple’s XRP rose to a late morning intraday high $0.46885 before hitting reverse.

Falling short of the first major resistance level at $0.4729, Ripple’s XRP slid to a late intraday low $0.45712.

Steering clear of the first major support level at $0.4516, Ripple’s XRP moved back through to $0.465 levels to end the day in the green.

At the time of writing, Ripple’s XRP was up by 0.44% to $0.46782. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.46595 before rising to a high $0.46897.

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

XRPUSD 080321 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.4639 pivot level and the 38.2% FIB of $0.4632 to bring the first major resistance level at $0.4707 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.47 levels.

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

In the event of an extended rally, Ripple’s XRP could test resistance at $0.48 before any pullback. The second major resistance level sits at $0.4756.

Failure to avoid a fall through the $0.4639 pivot and the 38.2% FIB would bring the first major support level at $0.4590 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.45 levels. The second major support level at $0.4522 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4590

Pivot Level: $0.4639

First Major resistance Level: $0.4707

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

The Crypto Daily – Movers and Shakers – March 7th, 2021

Bitcoin, BTC to USD, eked out a 0.07% gain on Saturday. Following on from a 0.91% gain on Friday, Bitcoin ended the day at $48,860.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $49,238.0 before hitting reverse.

Falling short of the first major resistance level at $50,074, Bitcoin fell to an early afternoon intraday low $47,159.0.

Steering clear of the first major support level at $47,002, Bitcoin revisited $49,000 levels before easing back.

The near-term bullish trend remained intact in spite of latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Ethereum rallied by 8.05% to lead the way.

Binance Coin  (+0.48%), Chainlink (+1.10%), Litecoin (+1.38%), and Ripple’s XRP (+1.79%) also joined Bitcoin in the green.

It was a bearish day for the rest of the majors, however.

Bitcoin Cash SV (-1.69%), Cardano’s ADA (-2.53%), Crypto.com Coin (-0.18%), and Polkadot (-0.81%) saw red on the day.

In the current week, the crypto total market fell to a Monday low $1,347bn before rising to a Wednesday high $1,600bn. At the time of writing, the total market cap stood at $1,505bn.

Bitcoin’s dominance rose to a Tuesday high 62.40% before falling to a Friday low 60.44%. At the time of writing, Bitcoin’s dominance stood at 60.93%.

This Morning

At the time of writing, Bitcoin was up by 0.72% to $49,213.0. A bullish start to the day saw Bitcoin rise from an early morning low $48,895.0 to a high $49,275.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA was down by 0.47% to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 4.22% to lead the way.

BTCUSD 070321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $48,419 to bring the first major resistance level at $49,679 into play.

Support from the broader market would be needed for Bitcoin to break back through to $49,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $50,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $51,000 before any pullback. The second major resistance level sits at $50,498.

Failure to avoid a fall through the $48,419 pivot would bring the first major support level at $47,600 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the 23.6% FIB of $45,50. The second major support level at $46,340 should limit the downside.

The Crypto Daily – Movers and Shakers – March 6th, 2021

Bitcoin, BTC to USD, rose by 0.91% on Friday. Partially reversing a 4.01% slide from Thursday, Bitcoin ended the day at $48,830.0.

A bearish start to the day saw Bitcoin slide to an early morning intraday low $46,417.0 before making a move.

Bitcoin fell through the first major support level at $46,735 before striking a late intraday high $49,489.0.

Falling short of the first major resistance level at $50,909, Bitcoin fell back to $48,600 levels before wrapping up the day at $48,800 levels.

The near-term bullish trend remained intact in spite of latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Ripple’s XRP and Polkadot slid by 5.27% and by 5.47% respectively to lead the way down.

Binance Coin  (-1.86%), Bitcoin Cash SV (-1.67%), Crypto.com Coin (-2.38%), Ethereum (-0.70%), and Litecoin (-0.16%)  also saw red.

It was a bullish day for the rest of the majors, however.

Cardano’s ADA rallied by 4.20% to lead the way, with Chainlink (+0.57%) also joining Bitcoin in the green.

In the current week, the crypto total market fell to a Monday low $1,347bn before rising to a Wednesday high $1,600bn. At the time of writing, the total market cap stood at $1,486bn.

Bitcoin’s dominance rose to a Tuesday high 62.40% before falling to a Thursday low 61.06%. At the time of writing, Bitcoin’s dominance stood at 61.45%.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $49,048.0. A bullish start to the day saw Bitcoin rise from an early morning low $48,826.0 to a high $49,238.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Crypto.com Coin was up by 2.16% to lead the way.

BTCUSD 060321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $48,245 to bring the first major resistance level at $50,074 into play.

Support from the broader market would be needed for Bitcoin to break back through to $50,000 levels.

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

In the event of an extended crypto rally, Bitcoin could test resistance at $52,000 before any pullback. The second major resistance level sits at $51,317.

Failure to avoid a fall through the $48,245 pivot would bring the first major support level at $47,002 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the 23.6% FIB of $45,501 and the second major support level at $45,173.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 6th, 2021

Ethereum

Ethereum fell by 0.70% on Friday. Following a 1.83% decline on Thursday, Ethereum ended the day at $1,528.82.

A bearish start to the day saw Ethereum slide to a late morning intraday low $1,442.32 before finding support.

Ethereum fell through the first major support level at $1,488 and the second major support level at $1,435.

Steering clear of sub-$1,400 levels, however, Ethereum bounced back to strike a late intraday $1,551.19.

While breaking back through the major support levels, Ethereum failed to break through the day’s pivot level at $1,556.

At the time of writing, Ethereum was up by 0.73% to $1,540.01 A bullish start to the day saw Ethereum rise from an early morning low $1,528.46 to a high $1,546.27.

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

ETHUSD 060321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,507 to support a run at the first major resistance level at $1,573 and the 23.6% FIB of $1,579.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $1,551.19.

Barring an extended crypto rally, the first major resistance level and resistance at $1,600 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $1,650 before any pullback. The second major resistance level sits at $1,616.

Failure to avoid a fall through the $1,507 pivot would bring the first major support level at $1,464 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,400 levels. The second major support level sits at $1,399.

Looking at the Technical Indicators

First Major Support Level: $1,464

Pivot Level: $1,507

First Major Resistance Level: $1,573

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin fell by 0.16% on Friday. Following a 3.75% fall from Thursday, Litecoin ended the day at $180.30.

Tracking the broader market, Litecoin slid to an early morning intraday low $168.58 before making a move.

Litecoin fell through the first major support level at $174 before rallying to a late intraday high $183.53.

Coming up short of the day’s pivot level and first major resistance level at $191, Litecoin slipped back into the red.

At the time of writing, Litecoin was up by 0.93% to $181.98. A bullish start to the day saw Litecoin rise from an early morning low $180.32 to a high $181.98.

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

LTCUSD 060321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $178 pivot level to support a run at the first major resistance level at $186.

Support from the broader market would be needed, however, for Litecoin to break out from $185 levels.

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 the second major resistance level at $192 and the 23.6% FIB of $195.

Failure to avoid a fall through the $178 pivot level would bring the first major support level at $171 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $163 and the 38.2% FIB of $163.

Looking at the Technical Indicators

First Major Support Level: $171

Pivot Level: $178

First Major Resistance Level: $186

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slid by 5.27% on Friday. Partially reversing a 7.33% rally from Thursday, Ripple’s XRP ended the day at $0.45649.

It was a choppy start to the day. Ripple’s XRP rose to an early morning intraday high $0.48418 before hitting reverse.

Falling short of the first major resistance level at $0.5050, Ripple’s XRP slid to an early morning intraday low $0.44629.

The sell-off saw Ripple’s XRP fall through the 38.2% FIB of $0.4632 before steadying.

Finding support at the first major support level at $0.4463, Ripple’s XRP revisited $0.46 levels before easing back. The 38.2% FIB of $0.4632 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.19% to $0.45736. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.45388 before rising to a high $0.45799.

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

XRPUSD 060321 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.4623 pivot level and the 38.2% FIB of $0.4632 to bring the first major resistance level at $0.4784 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.47 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $0.48418 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.5002 before any pullback.

Failure to move through the $0.4623 pivot would bring the first major support level at $0.4405 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.4244.

Looking at the Technical Indicators

First Major Support Level: $0.4405

Pivot Level: $0.4623

First Major resistance Level: $0.4784

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

The Crypto Daily – Movers and Shakers – March 5th, 2021

Bitcoin, BTC to USD, slid by 4.01% on Thursday. Reversing a 3.91% gain from Wednesday, Bitcoin ended the day at $48,388.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $51,777.0 before hitting reverse.

Falling short of the first major resistance level at $52,649, Bitcoin slid to a late intraday low $47,603.0.

The sell-off saw Bitcoin fall through the first major support level at $48,175 before ending the day at $48,300 levels.

The near-term bullish trend remained intact in spite of latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Ripple’s XRP rallied by 7.33% to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Cardano’s ADA and Chainlink slid by 8.31% and by 7.37% respectively to lead the way down.

Binance Coin  (-4.59%), Bitcoin Cash SV (-5.76%), and Litecoin (-3.75%) also saw relatively heavy losses.

Crypto.com Coin (-1.81%), Ethereum (-1.83%), and Polkadot (-1.04%) saw relatively modest losses on the day, however.

In the current week, the crypto total market fell to a Monday low $1,347bn before rising to a Wednesday high $1,600bn. At the time of writing, the total market cap stood at $1,422bn.

Bitcoin’s dominance fell to a Tuesday low 61.08% before rising to a Tuesday high 62.40%. At the time of writing, Bitcoin’s dominance stood at 61.50%.

This Morning

At the time of writing, Bitcoin was down by 2.54% to $47,161.0. A bearish start to the day saw Bitcoin slide from an early morning high $48,389.0 to a low $47,055.0.

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

Elsewhere, it was also a bearish start to the day for the majors

At the time of writing, Crypto.com Coin was down by 4.97% to lead the way down.

BTCUSD 050321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $49,256 to bring the first major resistance level at $50,909 into play.

Support from the broader market would be needed for Bitcoin to break back through to $50,000 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $51,777.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $53,430.

Failure to move through the $49,256 pivot would bring the first major support level at $46,735 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the 23.6% FIB of $45,501 and the second major support level at $45,082.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 5th, 2021

Ethereum

Ethereum fell by 1.83% on Thursday. Partially reversing a 5.34% decline from Wednesday, Ethereum ended the day at $1,539.69.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,625.00 before hitting reverse.

While falling short of the first major resistance level at $1,658, Ethereum broke through the 23.6% FIB of $1,579.

The reversal saw Ethereum slide to a late intraday low $1,504.06.

While falling back through the 23.6% FIB, Ethereum avoided the first major support level at $1,477.

Finding late support, Ethereum wrapped up the day at $1,539 levels.

At the time of writing, Ethereum was down by 1.21% to $1,521.03. A mixed start to the day saw Ethereum rise to an early morning high $1,541.00 before falling to a low $1,518.18.

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

ETHUSD 050321 Hourly Chart

For the day ahead

Ethereum would need to move through the the pivot level at $1,556 to support a run at the 23.6% FIB and the first major resistance level at $1,608.

Support from the broader market would be needed, however, for Ethereum to break out from the 23.6% FIB of $1,579.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1,625.00 would likely cap any upside.

In the event of another breakout, Ethereum could test resistance at $1,700 before any pullback. The second major resistance level sits at $1,677.

Failure to move through the $1,556 pivot would bring the first major support level at $1,488 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,400 levels. The second major support level at $1,435 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,488

Pivot Level: $1,556

First Major Resistance Level: $1,608

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin slid by 3.75% on Thursday. Partially reversing a 4.65% gain from Wednesday, Litecoin ended the day at $180.59.

Tracking the broader market, Litecoin rose to an early morning intraday high $194.50 before hitting reverse.

While falling short of the first major resistance level at $197, Litecoin came up against the 23.6% FIB of $195.

The reversal saw Litecoin slide to a late intraday low $177.00. Litecoin fell through the first major support level at $178 before a partial recovery to $180 levels.

At the time of writing, Litecoin was down by 1.17% to $178.48. A bearish start to the day saw Litecoin fall from an early morning high $180.72 to a low $178.00.

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

LTCUSD 050321 Hourly Chart

For the day ahead

Litecoin would need to move through the $184 pivot level to support a run at the first major resistance level at $191.

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

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $195 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $202.

Failure to move through the $184 pivot level would bring the first major support level at $174 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $167.

Looking at the Technical Indicators

First Major Support Level: $174

Pivot Level: $184

First Major Resistance Level: $191

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 7.33% on Thursday. Following on from a 2.97% gain on Wednesday, Ripple’s XRP ended the day at $0.48101.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.43562 before making a move.

Steering clear of the first major support level at $0.4310, Ripple’s XRP rallied to a late intraday high $0.49431.

Ripple’s XRP broke through the first major resistance level at $0.4683 and the second major resistance level at $0.4872.

More significantly, Ripple’s XRP also broke through the 38.2% FIB of $0.4632.

A late pullback, however, saw Ripple’s XRP fall back to a low $0.45027 levels before finding support.

Steering clear of sub-$0.45 levels, Ripple’s XRP broke back through first major resistance level and the 38.2% FIB to end the day at $0.48 levels.

At the time of writing, Ripple’s XRP was down by 1.23% to $0.47508. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.48418 before falling to a low $0.47225.

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

XRPUSD 050321 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.4703 pivot level to bring the first major resistance level at $0.5050 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.49431.

Barring an extended crypto rally, the first major resistance level and resistance at $0.51 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.5290 and resistance at the 23.6% FIB of $0.5320 pullback.

Failure to avoid a fall through the $0.4703 pivot would bring the 38.2% FIB of $0.4632 and the first major support level at $0.4463 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.4116.

Looking at the Technical Indicators

First Major Support Level: $0.4463

Pivot Level: $0.4703

First Major resistance Level: $0.5050

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

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 4th, 2021

Ethereum

Ethereum rallied by 5.34% on Wednesday. Reversing a 5.31% slide from Tuesday, Ethereum ended the day at $1,567.86.

A mixed start to the day saw Ethereum fall to an early morning intraday low $1,476.72 before making a move.

Steering clear of the first major support level at $1,428, Ethereum rallied to a mid-day intraday high $1,657.91.

Ethereum broke through the first major resistance level at $1,578 to come within range of the second major resistance level at $1,668.

The morning rally also saw Ethereum break through the 23.6% FIB of $1,579.

Falling short of $1,700, Ethereum fell back through the first major resistance level and the 23.6% FIB to sub-$1,570 levels.

A late rally, however, saw Ethereum briefly break back through the first major resistance level and the 23.6% FIB before ending the day at sub-$1,570 levels.

At the time of writing, Ethereum was up by 0.58% to $1,576.88. A mixed start to the day saw Ethereum fall to an early morning low $1,555.00 before rising to a high $1,577.40.

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

ETHUSD 040321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall back through the Ethereum pivot level at $1,568 to support a run at the first major resistance level at $1,658.

Support from the broader market would be needed, however, for Ethereum to break out from the 23.6% FIB of $1,579.

Barring an extended crypto rally, the first major resistance level and resistance at $1,700 would likely cap any upside.

In the event of another breakout, Ethereum could test resistance at $1,800 before any pullback. The second major resistance level sits at $1,749.

Failure to avoid a fall through 23.6% FIB and the $1,568 pivot would bring the first major support level at $1,477 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,400 levels. The second major support level sits at $1,386.

Looking at the Technical Indicators

First Major Support Level: $1,477

Pivot Level: $1,568

First Major Resistance Level: $1.659

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rallied by 4.65% on Wednesday. Following on from a 1.80% gain on Tuesday, Litecoin ended the day at $187.61.

A mixed start to the day saw Litecoin fall to an early morning intraday low $177.15 before making a move.

Steering clear of the first major support level at $172, Litecoin rallied to an early afternoon intraday high $196.71.

Litecoin broke through the first major resistance level at $186 and the second major resistance level at $193.

The morning rally also saw Litecoin break through the 23.6% FIB of $195 before falling back to $186 levels.

Finding support at the first major resistance level, Litecoin wrapped up the day at $187 levels.

At the time of writing, Litecoin was up by 0.76% to $189.04. A mixed start to the day saw Litecoin fall to an early morning low $186.20 before rising to a high $189.25.

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

LTCUSD 040321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall back through the $187 pivot level to support a run at the first major resistance level at $197.

Support from the broader market would be needed, however, for Litecoin to break back through the 23.6% FIB of $195.

Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $207.

Failure to avoid a fall back through the $187 pivot level would bring the first major support level at $178 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $168.

Looking at the Technical Indicators

First Major Support Level: $178

Pivot Level: $187

First Major Resistance Level: $197

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 2.97% on Wednesday. Reversing a 2.24% loss from Tuesday, Ripple’s XRP ended the day at $0.44935.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.43154 before making a move.

Steering clear of the first major support level at $0.4204, Ripple’s XRP rallied to a late morning intraday high $0.46884.

Ripple’s XRP broke through the first major resistance level at $0.4539 and the 38.2% FIB of $0.4632.

An afternoon pullback saw Ripple’s XRP fall back to sub-$0.45 levels before steadying.

Ripple’s XRP broke back through to $0.45 levels to test the first major resistance level at $0.4539 before easing back.

At the time of writing, Ripple’s XRP was down by 0.54% to $0.44694. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.44818 to a low $0.44694.

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

XRPUSD 040321 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.4499 pivot level to bring the first major resistance level at $0.4683 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the 38.2% FIB of $0.4632.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.46884 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.50 before any pullback. The second major resistance level sits at $0.4872.

Failure to move through the $0.4499 pivot would bring the first major support level at $0.4310 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.4126.

Looking at the Technical Indicators

First Major Support Level: $0.4310

Pivot Level: $0.4499

First Major resistance Level: $0.4683

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

The Crypto Daily – Movers and Shakers – March 3rd, 2021

Bitcoin, BTC to USD, fell by 2.11% on Tuesday. Partially reversing a 9.49% rally from Monday, Bitcoin ended the day at $48,536.0.

A bullish start to the day saw Bitcoin rally to an early morning intraday high $50,148.0 before hitting reverse.

Falling well short of the first major resistance level at $51,182, Bitcoin slid to a late intraday low $47,158.0.

Steering clear of the first major support level at $46,539, however, Bitcoin found late support to end the day at $48,500 levels.

The near-term bullish trend remained intact in spite of last week’s reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Bitcoin Cash SV and Polkadot rose by 3.70% and by 3.83% respectively to lead the way.

Chainlink (+2.81%), Crypto.com Coin (+2.16%), and Litecoin (+1.80%) also found support to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Binance Coin  (-5.87%), Cardano’s ADA (-5.64%), and Ethereum (-5.31%) led the way down.

Ripple’s XRP (-2.24%) saw relatively modest loss on the day.

Early in the week, the crypto total market fell to a Monday low $1,345.39bn before rising to a Tuesday high $1,533.73bn. At the time of writing, the total market cap stood at $1,436.62bn.

Bitcoin’s dominance fell to a Tuesday low 61.08% before rising to a Tuesday high 62.40%. At the time of writing, Bitcoin’s dominance stood at 61.89%.

This Morning

At the time of writing, Bitcoin was up by 0.18% to $48,625.0. A mixed start to the day saw Bitcoin fall to an early morning low $48,183.4 before rising to a high $48,855.0.

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

Elsewhere, it was a mixed start to the day.

Litecoin and Ripple’s XRP were down by 0.04% and by 0.46% to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Polkadot was up by 1.95% to lead the way.

BTCUSD 030321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $48,614 to bring the first major resistance level at $50,070 into play.

Support from the broader market would be needed for Bitcoin to break back through to $50,000 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $50,148.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $52,000 before any pullback. The second major resistance level sits at $51,604.

Failure to avoid a fall back through the $48,614 pivot would bring the first major support level at $47,080 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $45,624 and the 23.6% FIB of $45,501.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 3rd, 2021

Ethereum

Ethereum slid by 5.31% on Tuesday. Partially reversing a 10.55% rally from Monday, Ethereum ended the day at $1,488.34.

A mixed start to the day saw Ethereum rise to an early morning intraday high $1,605.89 before hitting reverse.

While falling short of the first major resistance level at $1,627, Ethereum broke through the 23.6% FIB of $1,579.

The reversal saw Ethereum slide to a late intraday low $1,455.86.

The sell-off saw Ethereum fall through the 23.6% FIB and the first major support level at $1,465.

Finding late support, Ethereum moved back through the first major support level to reduce the deficit on the day.

At the time of writing, Ethereum was down by 0.44% to $1,481.85. A mixed start to the day saw Ethereum rise to an early morning high $1,489.04 before falling to a low $1,480.27.

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

ETHUSD 030321 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $1,517 to support a run at the first major resistance level at $1,578 and the 23.6% FIB of $1,579.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,570 levels.

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

In the event of another breakout, Ethereum could test the second major resistance level at $1,667 and resistance at $1,700.

Failure to move through the $1,517 pivot would bring the first major support level at $1,428 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,400 levels. The second major support level sits at $1,367.

Looking at the Technical Indicators

First Major Support Level: $1,428

Pivot Level: $1,517

First Major Resistance Level: $1,578

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 1.80% on Tuesday. Following on from a 6.30% rally on Monday, Litecoin ended the day at $179.25.

It was a mixed start to the day. Litecoin fell to a mid-morning low $171.13 before making a move.

Steering clear of the first major support level at $167, Litecoin rallied to an early afternoon intraday high $185.48.

Litecoin broke through the first major resistance level at $180.71 before hitting reverse.

Coming up against the second major resistance level at $185.40, Litecoin slid to a late intraday low $170.70.

Continuing to steer clear of the first major support level at $167, however, Litecoin moved back through to $179 to end the day in the green.

At the time of writing, Litecoin was down by 0.79% to $177.84. A bearish start to the day saw Litecoin fall from an early morning high $179.29 to a low $177.62.

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

LTCUSD 030321 Hourly Chart

For the day ahead

Litecoin would need to move back through the $179 pivot level to support a run at the first major resistance level at $186.

Support from the broader market would be needed, however, for Litecoin to break back through to $180 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $185.48 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at the 23.6% FIB of $195. The second major resistance level sits at $193.

Failure to move back through the $179 pivot level would bring the first major support level at $172 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$160 levels. The second major support level at $164 and the 38.2% FIB of $163 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $179

First Major Resistance Level: $186

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 2.24% on Tuesday. Partially reversing a 7.04% rally from Monday, Ripple’s XRP ended the day at $0.43624.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.45574 before hitting reverse.

Falling short of the first major resistance level at $0.4624, Ripple’s XRP slid to a late afternoon intraday low $0.42228.

Steering clear of the first major support level at $0.4213, Ripple’s XRP moved back through to $0.436 levels to reduce the deficit.

At the time of writing, Ripple’s XRP was down by 0.80% to $0.43277. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.43638 to a low $0.43277.

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

XRPUSD 030321 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.4381 pivot level to bring the first major resistance level at $0.4539 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.45 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.45574 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at the 38.2% FIB of $0.4632 and resistance at $0.47. The second major resistance level sits at $0.4715.

Failure to move through the $0.4381 pivot would bring the first major support level at $0.4204 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.40 levels. The second major support level at $0.4046 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.4204

Pivot Level: $0.4381

First Major resistance Level: $0.4539

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

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 2nd, 2021

Ethereum

Ethereum rallied by 10.55% on Monday. Reversing a 2.63% loss from Sunday, Ethereum ended the day at $1,571.82.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,412.61 before making a move.

Steering clear of the first major support level at $1,320, Ethereum rallied to a late intraday high $1,574.28.

Ethereum broke through the first major resistance level at $1,497 and the second major resistance level at $1,572 before ending the day at $1,571 levels.

The day long rally saw Ethereum come within range of the 23.6% FIB of $1,579.

At the time of writing, Ethereum was up by 0.43% to $1,578.64. A mixed start to the day saw Ethereum fall to an early morning low $1,570.01 before rising to a high $1,578.99.

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

ETHUSD 020321 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,520 to support a run at the 23.6% FIB of $1,579 and the first major resistance level at $1,627.

Support from the broader market would be needed, however, for Ethereum to break through to $1,600 levels.

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

In the event of another breakout, Ethereum could test the second major resistance level at $1,681 and resistance at $1,700.

Failure to avoid a fall through the $1,520 pivot would bring the first major support level at $1,465 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,400 levels. The second major support level sits at $1,358.

Looking at the Technical Indicators

First Major Support Level: $1,465

Pivot Level: $1,520

First Major Resistance Level: $1,627

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 6.30% on Monday. Reversing a 3.63% fall from Sunday, Litecoin ended the day at $176.01.

It was a mixed start to the day. Litecoin fell to an early morning intraday low $163.54 before making a move.

Finding support at the 38.2% FIB of $163, Litecoin rallied to a late afternoon intraday high $176.82.

Litecoin broke through the first major resistance level at $175 before a pullback to sub-$170.

Finding late support, however, Litecoin broke back through the first major resistance level to end the day at $176 levels.

At the time of writing, Litecoin was up by 0.83% to $177.47. A mixed start to the day saw Litecoin fall to an early morning low $175.88 before rising to a high $177.80.

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

LTCUSD 020321 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $172 pivot level to support a run at the first major resistance level at $181.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $177.80.

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

In the event of an extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level sits at $185.

Failure to avoid a fall through the $172 pivot level would bring the first major support level at $167 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $159. The 38.2% FIB of $163 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $167

Pivot Level: $172

First Major Resistance Level: $181

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 7.04% on Monday. Reversing a 4.45% fall from Sunday, Ripple’s XRP ended the day at $0.44593.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.41314 before making a move.

Steering clear of the first major support level at $0.3939, Ripple’s XRP rallied to a late afternoon intraday high $0.45422.

Ripple’s XRP broke through the first major resistance level at $0.4388 to revisit $0.45 levels for the first time since Saturday.

Falling short of the second major resistance level at $0.4610, however, Ripple’s XRP eased back to end the day at $0.445 levels.

At the time of writing, Ripple’s XRP was up by 0.47% to $0.44802. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.44625 to a high $0.44802.

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

XRPUSD 020321 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.4378 pivot level to bring the first major resistance level at $0.4624 and the 38.2% FIB of $0.4632 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.45422.

Barring an extended crypto rally, the first major resistance level and the 38.2% FIB of $0.4632 would cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.4788 before any pullback.

Failure to avoid a fall through the $0.4378 pivot would bring the first major support level at $0.4213 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.40 levels. The second major support level sits at $0.3967.

Looking at the Technical Indicators

First Major Support Level: $0.4213

Pivot Level: $0.4378

First Major resistance Level: $0.4624

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

Bitcoin’s Nosedive below $45,000 Can Open Way to Continued Correction, Ethereum’s Repeats after Bitcoin

Bitcoin Sellers Took the Lead, Took BTC/USD below 45,000

BTC/USD started the week at 57,499 near the all-time high at 58,400, based on the CEX.IOpricing. In the first four hours of Monday’s trading session, BTC/USD declined to 56,000, which was an important support level in intraday terms. The level produced some buying pressure for the pair but only for the next four hours, as BTC/USD closed the 4-hour candlestick between 04:00 and 08:00 UTC at 46,479.

That, however, made no lasting influence, and BTC/USD had broken down below 56,000 and dropped below 53,500 by 16:00 UTC. That was a signal for a big sale, as the Bitcoin market had been overheated. In confirmation of that hypothesis, BTC/USD made a huge rollercoaster swing in the interval between 13:00 and 15:00 UTC, falling from 53,677 to 47,400 and bouncing back up. Meanwhile, Glassnode, an on-chain data aggregator reported that high-net-worth Bitcoin holders had sold 140,000 BTC, which was proof of traders’ readiness to sell BTC/USD big time. There was a slight upside recovery to 56,000 at the end of Monday, but with the start of Tuesday’s session the selling went on.

By 09:00 UTC of Tuesday, 23rd February, BTC/USD had already been at 46,500 as per Bitstamp’s exchange rate. Form 09:00 UTC, BTC/USD continued sideways, with high volatility taking place in the price action. The pair was edging sideways within the corridor of 45,000 – 49,000 until 01:00 UTC of Wednesday, 24th February. At that time a rebound above 49,000 started to take place and continued until 05:00 UTC, with 51,000 topped out.

The volatility reduced considerably, as the pair continued edging sideways within the price range of 50,000 – 51,000. At 13:00 – 14:00 UTC, a drawdown to 49,000 happened; afterwards, BTC/USD continued between 48,000 – 50,000 until the end of Wednesday. The sideways fluctuations continued on Thursday, 25th February, until 12:00 UTC. At 12:00 – 14:00 UTC, BTC/USD bounced to 52,000. Afterwards, BTC/USD began another continued downfall, which continued to 45,000 on Friday, 26th February. The falling stopped at 08:00 UTC, as the zone offered a buying opportunity.

BTC/USD on a 4-hour-timeframe chart

BTC/USD had bounced to 48,265 by 17:00 UTC and then reversed downwards until 23:00 UTC, almost reaching 45,000, and closed Friday at 45,447. On Saturday, 27th February, BTC/USD the bulls continued supporting the trading pair with buying volumes, and BTC/USD briefly rose to 48,100 between 0200 – 02:45 UTC. The pair continued sideways until 07:00 UTC, once breaking above the 50-period hourly SMA, but was eventually driven down below 47,000 between 08:00 and 09:00 UTC. The upside attempts at the SMA continued unsuccessfully until the end of Saturday. On Sunday, 28th February, selling pressure increased and saw BTC/USD gradually head down to 43,067 at its lowest. The capitalisation below 44,000 on the 4-hour timeframe was an indication of continuing selling bias in the trading pair.

Hope for Bitcoin Bulls

There was some news in the week of 22nd February that kept up Bitcoin bulls’ hopes of an upside recovery. Square, Inc. that had invested $50,000 million in Bitcoin in October 2020 made another Bitcoin purchase worth $170 million on 24th February 2021. Besides that, MicroStrategy – the corporate frontrunner among Bitcoin investors – bought 19,452 more BTC worth $1.026 billion at an average price of $52,765. This new purchase had brought MicroStrategy’s exposure to Bitcoin to 90,531 BTC.

These tendencies clearly showed that high profile investors were happy with the Bitcoin drawdown and were ready to buy the dip. This shows that Bitcoin continues to be looked upon as a solid financial instrument, and every downside correction is going to be met with substantial buying volumes.

Up or Down for BTC/USD in the Near Term?

The decline to nearly 43,000 and a stabilisation below 44,000 on the 4-hour timeframe was a signal of continuing bearish bias in BTC/USD, promising lower lows. Still, some bullish momentum remains to be present, and a breakthrough above 48,000 and above the 50-period 4-hour SMA would signal a change of bias and an upside recovery gaining traction. On the contrary, another decline to 43,000 will mean a continuation of bearish price action, with prospects of getting back to testing the 31,000 support level.

Therefore, we shall soon get answers on where BTC/USD will go next. With the pair edging higher towards 48,000 in the morning hours of Monday, the odds for a breakthrough are presently going higher.

1,392 Supports ETH/USD

ETH/USD opened the week of 22nd February at 1,933.4 and headed straight down from the start of the day, briefly getting below the 50-period 4-hour SMA with the lower wick of Monday’s first 4-hour candlestick reaching 1,867.3. The SMA gave ETH/USD some transitory support, but it continued sinking lower until 09:00 UTC on Tuesday, 23rd February, with support being found at 1,440. The trading pair continued sideways until the end of Tuesday, fluctuating within a considerable range of 1,360 and 1,600.

From the start of Wednesday, 24th February, the ETH/USD trading pair headed upwards to reach 1,715 and break above the 50-period hourly SMA. The volatility shrank considerably, as ETH/USD spent most of the time until 18:00 UTC on Thursday, 25th February within the range of 1,586.4 – 1,662, being regularly supported by the 50-period hourly SMA.

ETH/USD, ETH/USD headed down from 18:00 UTC on Thursday through to 08:00 UTC on Friday, 26th February. The pair eventually hit 1,402 at the minimum and continued edging sideways between 1,424.7 and 1,560 until the end of Saturday, 27th February, with the 50-period hourly SMA upkeeping the ETH/USD bearish momentum.

Another downswing took place on Sunday, 28th February, with a minimum at 1,299.6. However, an upside recovery that began at 19:00 UTC and continued through to the end of Sunday, with the 1,392.2 support level letting ETH/USD close the week at 1,417.5 as per the CEX.IO pricing. On top of that, ETH/USD finished Sunday in a hammer candlestick on the daily timeframe, which coupled with the 1,420 support level gives increased potential for a full-fledged upside recovery in the near term.

ETH/USD stabilises at 2018 high, daily timeframe

Grayscale Ethereum Trust Buying the Dip

It became known that the intraday pullback in ETH/USD between Tuesday, 23rd February, and Wednesday, 24th February, from the mid-to-lower 1,400s to above 1,700 coincided with a purchase of 10,000 ETH by Grayscale Ethereum Trust, which brought its Ether exposure to 3.17 ETH.

ETH/USD pulls back from 1,440 to 1,694, hourly timeframe

The bullish market reaction to the purchase clearly shows that big players’ moves have a strong impact on the Ethereum market. And the purchase itself shows that high-profile investors, who constitute most of Grayscale clients, have trust in Ethereum in the long term, which can result in continued market growth for the smart-contract pioneer.

Konstantin Anissimov, Executive Director at CEX.IO

The Crypto Daily – Movers and Shakers – March 1st, 2021

Bitcoin, BTC to USD, fell by 1.95% on Sunday. Following a 0.07% decline on Saturday, Bitcoin ended the week down by 21.04% to $45,300.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $46,703.0 before hitting reverse. In spite of the bearish week, Bitcoin ended February up by 36.78%.

Falling short of the first major resistance level at $48,063, Bitcoin slid to a late afternoon intraday low $43,171.0.

Bitcoin fell through the first major support level at $44,756 and the second major support level at $43,275.

The sell-off also saw Bitcoin fall through the 23.6% FIB of $45,501.

Steering clear of sub-$40,000 support levels, however, Bitcoin revisited $46,000 levels before easing back.

Bitcoin broke back through the major support levels and the 23.6% FIB of $45,501 before ending the day at $45,300 levels.

The near-term bullish trend remained intact in spite of the week’s reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Cardano’s ADA (+0.15%) and Polkadot (+3.25%) also bucked the trend on the day.

It was a bearish day for the rest of the majors, however.

Crypto.com Coin tumbled by 13.89% to lead the way down, with Bitcoin Cash SV sliding by 8.95%.

Binance Coin (-6.49%), Chainlink (-5.56%), Ethereum (-2.63%), Litecoin (-3.63%), and Ripple’s XRP (-4.45%) also struggled, however.

For the week, it was a mixed week for the cryptos.

Cardano’s ADA rallied by 19.53% to lead the way, with Polkadot rising by 8.45% to also buck the trend.

It was a particularly bearish week for the rest of the majors, however.

Binance Coin (-28.66%), Bitcoin Cash SV (-29.10%), Chainlink (-27.56%), Ethereum (-26.54%), Litecoin (-27.18%), and Ripple’s XRP (-23.57%) led the way down.

Crypto.com Coin (-7.44%) saw a relatively modest loss in the week, however.

In spite of the downward trend for the week, it was a mixed month for the majors.

Bitcoin Cash (-4.12%) and Ripple’s XRP (-15.97%) bucked the trend with losses for February.

It was a bullish month for the rest of the majors, however.

Binance Coin surged by 374.51% to lead the way, with Cardano’s ADA (+281.46%) and Crypto.com Coin (+108.38%) also impressing.

Chainlink (+9.53%), Ethereum (+8.22%), Litecoin (+27.86%), and Polkadot (+53.66%) trailed the front runners.

In the week, the crypto total market cap rose to a Monday high $1,748.98bn before sliding to a Sunday low $1,277.34bn. At the time of writing, the total market cap stood at $1,399.38bn.

Bitcoin’s dominance rose to a Tuesday high 64.74% before falling to a Saturday low 60.94%. At the time of writing, Bitcoin’s dominance stood at 62.05%.

This Morning

At the time of writing, Bitcoin was up by 2.73% to $46,537.6. A mixed start to the day saw Bitcoin fall to an early morning low $45,100.0 before rising to a high $46,552.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA and Polkadot were down by 1.24% and by 0.95% respectively to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 8.95% to lead the way.

BTCUSD 010321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the 23.6% FIB of $45,501 and the pivot level at $45,058 to bring the first major resistance level at $46,945 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $46,703.0.

Barring an extended crypto rally, the first major resistance level and resistance at $47,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $49,000 before any pullback. The second major resistance level sits at $48,590.

Failure to avoid a fall through the 23.6% FIB of $45,501 and the $45,058 pivot would bring the first major support level at $43,413 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$42,000 levels. The second major support level sits at $41,526.