Yahoo Finance Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 26th, 2021
Ethereum
Ethereum slid by 8.78% on Thursday. Reversing a 3.01% gain from Wednesday, Ethereum ended the day at $1,482.62.
A mixed start to the day saw Ethereum rise to an early morning high $1,659.97 before hitting reverse.
Falling well short of the major resistance levels, Ethereum fell to a late morning low $1,579.70.
Finding support at the 23.6% FIB of $1,579, Ethereum struck a late intraday high $1,672.49 before a 2nd sell-off.
Falling short of the first major resistance level at $1,726, Ethereum slid to a late intraday low $1,458.50.
Ethereum fell through the 23.6% FIB and the first major support level at $1,512 to end the day at sub-$1,500 levels.
At the time of writing, Ethereum was up by 0.75% to $1,493.80. A mixed start to the day saw Ethereum fall to an early morning low $1,464.68 before rising to a high $1,493.80
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the pivot level at $1,538 to support a run at the first major resistance level at $1,617.
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 $1,672.49 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $1,800 before any pullback. The second major resistance level sits at $1,752.
Failure to move through the $1,538 pivot would bring the first major support level at $1,403 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,324.
Looking at the Technical Indicators
First Major Support Level: $1,403
Pivot Level: $1,538
First Major Resistance Level: $1,617
23.6% FIB Retracement Level: $1,528
38.2% FIB Retracement Level: $1,251
62% FIB Retracement Level: $804
Litecoin
Litecoin fell by 1.17% on Thursday. Partially reversing a 2.37% gain from Wednesday, Litecoin ended the day at $179.47.
It was a bearish start to the day. Litecoin fell to a late morning intraday low $175.21 before making a move.
Steering clear of the first major support level at $170.50, Litecoin rallied to an early afternoon intraday high $205.20.
Litecoin broke through the first major resistance level at $191.30 and the second major resistance level at $200.89.
More significantly, Litecoin broke back through the 23.6% FIB of $195 before a late slide back to sub-$180 levels.
At the time of writing, Litecoin was up by 0.11% to $179.66. A mixed start to the day saw Litecoin fall to an early morning low $174.65 before rising to a high $179.82.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $186.63 pivot level to support a run at the 23.6% FIB of $195 and the first major resistance level at $198.04.
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 Thursday’s high $205.20 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $216.62.
Failure to move through the $186.63 pivot level would bring the first major support level at $168.05 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $156.64. The 38.2% FIB of $163 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $168.05
Pivot Level: $186.63
First Major Resistance Level: $198.04
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 6.93% on Thursday. Following a 0.38% decline on Wednesday, Ripple’s XRP ended the day at $0.43654.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.48195 before hitting reverse.
Falling short of the first major resistance level at $0.4960, Ripple’s XRP fell to a late morning low $0.45393.
Ripple’s XRP fell through the 38.2% FIB of $0.4632 before striking an early afternoon high $0.48115.
Continuing to fall short of the major resistance levels, Ripple’s XRP slid to a late intraday low $0.42524.
Ripple’s XRP fell through the 38.2% FIB and the first major support level at $0.4469 to end the day at $0.435 levels.
The late sell-off saw Ripple’s XRP come within range of the second major support level at $0.4245.
At the time of writing, Ripple’s XRP was down by 2.39% to $0.42522. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.43489 to a low $0.41674.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through the $0.4476 pivot level to bring the first major resistance level at $0.4700 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 should 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 $0.5043.
Failure to move through the $0.4476 pivot would bring the first major support level at $0.4133 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer well clear of sub-$0.40 levels. The second major support level sits at $0.3909.
Looking at the Technical Indicators
First Major Support Level: $0.4133
Pivot Level: $0.4476
First Major resistance Level: $0.4700
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
This article was originally posted on FX Empire
