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

For the day ahead

Litecoin would need to avoid the $161 pivot to bring the first major resistance level at $177 and the 23.6% FIB of $178 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $171.00.

Barring an extended crypto rally, the first major resistance level and resistance at the 23.6% FIB of $178 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 at sits $187.

A fall through the $161 pivot would bring the first major support level at $151 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $135.

Looking at the Technical Indicators

First Major Support Level: $151

Pivot Level: $161

First Major Resistance Level: $177

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 4.93% on Monday. Reversing a 4.62% fall from Sunday, Ripple’s XRP ended the day at $0.81959.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.76107 before making a move.

Steering clear of the first major support level at $0.7543, Ripple’s XRP rallied to a late afternoon intraday high $0.82805.

Ripple’s XRP broke through the first major resistance level at $0.8232 before falling back to end the day at sub-$0.82.

At the time of writing, Ripple’s XRP was down by 0.58% to $0.81486. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.82251 before falling to a low $0.81481.

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

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