Cryptocurrency Technical Analysis of April 28, 2021

Cryptocurrencies: Ethereum

Ethereum was up 5.31% on Tuesday after a 9.11% rally on Monday to end the day at $ 2,667.86.

A mixed start to the day saw Ethereum drop to a morning intraday low of $ 2,484.56 yesterday before making a bullish move.

After avoiding the major support level at $ 2,379, Ethereum rallied to an afternoon intraday high and a new swing high $ 2,683.00.

Ethereum then broke through the main resistance level at $ 2,615 before returning to the $ 2,605 levels.

After finding late support, however, Ethereum broke through the first major resistance level to end the day at $ 2,660.

At the time of writing, Ethereum was up 0.76% to $ 2,677.12. A bullish start to the day saw Ethereum rise from a morning low $ 2,667.66 to a new swing high $ 2,688.12.

Ethereum left the major support and resistance levels untested at the start of today’s session.

For today

Ethereum should first avoid the pivot level of $ 2,612 to be able to sustain a run to the first resistance level at $ 2,739.

However, support from a broader market would be needed for Ethereum to reach $ 2,700 levels.

Excluding the hypothesis of an extended rally, the major resistance level would likely limit any upside.

In the event of a breakout, however, Ethereum could test the resistance at $ 2,850. The second major resistance level would be found at $ 2,810.

Conversely, failing to avoid the $ 2,612 pivot would bring the main support level at $ 2,541 into play.

Net of an extended sell-off, Ethereum should still avoid levels below $ 2,400. The second major support level at $ 2,413 should limit the downside.

A look at the technical indicators

First major support level: $ 2,541

Pivot Level: $ 2,612

First major resistance level: $ 2.739

23.6% FIB Retracement Level: $ 2,069

38.2% FIB Retracement Level: $ 1.689

62% FIB Retracement Level: $ 1.075

Cryptocurrencies: Litecoin

Tuesday the litecoin rose + 5.12% on Monday after a rally of 10.43%, closing the day at $ 259.96.

A mixed start to the day yesterday saw Litecoin contract to a morning intraday low $ 243.81 before making a bullish move.

After avoiding the main support level at $ 230, Litecoin reached an afternoon intraday high $ 264 and broke through the main resistance level at $ 257 and the 23.6% FIB of $ 262 before returning to levels. of $ 255.

After finding late support, the cryptocurrency managed to break out of the main resistance level to end the day at $ 259.

At the time of writing, Litecoin was up 0.81% to $ 262.07. A bullish start to the day saw Litecoin rise from a morning low $ 259.92 to a high of $ 262.50.

Despite leaving major support and resistance levels untested, Litecoin broke above the FIB by 23.6% at $ 262 this morning.

For the day ahead

Litecoin should be able to avoid the pivot level of $ 256 to support a run at the main resistance level of $ 268.

However, support from a broader market would be needed to break out of Tuesday’s high of $ 264.

If you rule out an extended cryptocurrency rally, the major resistance level and subsequent resistance at $ 270 could limit any upside.

In the event of a rebound, however, Litecoin may be able to test the overhead resistance at $ 285 and the second level at $ 276.

Conversely, the inability to avoid a crash beyond the $ 256 pivot would bring the first support level of $ 248 into play.

Net of another extended sell-off, Litecoin should still be able to avoid levels below $ 240. The second major support level would be at $ 246.

A look at the technical indicators

First major support level: $ 248

Pivot level: $ 256

First major resistance level: $ 268

23.6% FIB Retracement Level: $ 250

38.2% FIB Retracement Level: $ 207

62% FIB Retracement Level: $ 138

Cryptocurrencies: Ripple XRP

Ripple XRP was up + 2.94% on Tuesday following Monday’s breakout of $ 31.66 to end the day at $ 1.40322.

After a mixed start to the day, Ripple rose to a morning intraday high $ 1.46435 before reversing.

Having failed to hit the first resistance level at $ 1.4861, Ripple eased to an afternoon intraday low $ 1.33055 yesterday.

Later, however, after avoiding the 38.2% FIB and major support levels, Ripple revisited $ 1.43 levels before retreating again.

At the time of writing, Ripple was up by 0.87% to $ 1.41544. A bullish start to the day saw Ripple rise from a morning low $ 1.40356 to a high of $ 1.41764.

Ripple also left the major support and resistance levels untested at the start of the trading session.

For today

Ripple will first need to avoid the pivot level of $ 1.3994 to approach the main resistance level at $ 1.4682.

However, support from a broader market would be needed for Ripple to break out of Tuesday’s high of $ 1.46435.

If you rule out an extended cryptocurrency rally, the main resistance level and the next at $ 1.50 would likely limit any upside.

In the event of a sustained rally, however, the Ripple could test the second major resistance level at $ 1.5332 and the 23.6% FIB at $ 1.5426.

Conversely, failure to avoid a plunge above the pivot of $ 1.3994 would bring the main support level at $ 1.3344 into play.

After another extended sell-off, Ripple should be able to avoid levels below $ 1.30. The second major support would be at $ 1.2656.

A look at the technical indicators

First major support level: $ 1.3344

Pivot Level: $ 1.3994

First major resistance level: $ 1.4682

23.6% FIB Retracement Level: $ 1.5426

38.2% FIB Retracement Level: $ 1.2807

62% FIB Retracement Level: $ 0.8573

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