Yahoo Finance Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 27th, 2021
Ethereum
Ethereum fell by 2.49% on Friday. Following on from an 8.78% slide on Thursday, Ethereum ended the day at $1,445.18.
A mixed start to the day saw Ethereum rise to an early morning high $1,530.00 before hitting reverse.
Falling well short of the major resistance levels and 23.6% FIB of $1,579, Ethereum fell to a mid-morning intraday low $1,400.01.
Finding support at the first major support level at $1,403, Ethereum struck a late afternoon intraday high $1,564.11.
Falling short of the 23.6% FIB and the first major resistance level at $1,617, Ethereum slid back to $1,411 levels before steadying.
At the time of writing, Ethereum was up by 0.82% to $1,457.03. A mixed start to the day saw Ethereum fall to an early morning low $1,439.59 before rising to a high $1,466.67
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 $1,470 to support a run at the first major resistance level at $1,540.
Support from the broader market would be needed, however, for Ethereum to break back through to $1,500 levels.
Barring an extended crypto rally, the first major resistance level and 23.6% FIB of $1,579 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $1,700 before any pullback. The second major resistance level sits at $1,634.
Failure to move through the $1,470 pivot would bring the first major support level at $1,375 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $1,292. The second major support level at $1,306 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1,375
Pivot Level: $1,470
First Major Resistance Level: $1,540
23.6% FIB Retracement Level: $1,579
38.2% FIB Retracement Level: $1,292
62% FIB Retracement Level: $830
Litecoin
Litecoin slid by 5.07% on Friday. Following on from a 1.17% decline on Thursday, Litecoin ended the day at $170.30.
It was a mixed start to the day. Litecoin rose to an early morning intraday high $182.90 before hitting reverse.
Falling short of the 23.6% FIB of $195 and the first major resistance level at $198.04 Litecoin fell to a late morning intraday low $162.23.
The sell-off saw Litecoin fall through the first major support level at $168.05 and the 38.2% FIB of $163.
Finding late morning support, Litecoin revisited $181 levels before falling back to end the day at $170 levels.
At the time of writing, Litecoin was up by 1.65% to $173.11. A mixed start to the day saw Litecoin fall to an early morning low $169.50 before rising to a high $174.24.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $171.81 pivot level to support a run at the first major resistance level at $181.39.
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 Friday’s high $182.90 would likely cap any upside.
In the event of an extended breakout, Litecoin could test the second major resistance level at $192.48 and 23.6% FIB of $195.
Failure to avoid a fall through the $171.81 pivot level would bring the 38.2% FIB of $163 and the first major support level at $160.72 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $151.14.
Looking at the Technical Indicators
First Major Support Level: $160.72
Pivot Level: $171.81
First Major Resistance Level: $181.39
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 1.54% on Friday. Following on from a 6.93% slide on Thursday, Ripple’s XRP ended the day at $0.42821.
A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.41137.
Finding support at the first major support level at $0.4133, Ripple’s XRP rose to a late afternoon intraday high $0.45030.
Falling well short of the first major resistance level at $0.4700, however, Ripple’s XRP fell back to sub-$0.42 levels before finding support.
A late move back through to $0.42 levels reduced the deficit on the day.
At the time of writing, Ripple’s XRP was up by 1.45% to $0.43443. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.42843 before rising to a high $0.43699.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall back through the $0.4300 pivot level to bring the first major resistance level at $0.4486 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.4500 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $0.4503 should 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 the second major resistance level at $0.4689.
Failure to avoid a fall through the $0.4300 pivot would bring the first major support level at $0.4096 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 $0.3910.
Looking at the Technical Indicators
First Major Support Level: $0.4096
Pivot Level: $0.4300
First Major resistance Level: $0.4486
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521
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Thanks, Bob
This article was originally posted on FX Empire
