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


For the day ahead

Litecoin would need to avoid the $164 pivot to bring the first major resistance level at $170 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $168.42.

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 the 23.6% FIB of $178 before any pullback. The second major resistance level at sits $174.

A fall through the $164 pivot would bring the first major support level at $160 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $155.

Looking at the Technical Indicators

First Major Support Level: $160

Pivot Level: $164

First Major Resistance Level: $170

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 4.31% on Tuesday. Following a 4.93% rally on Monday, Ripple’s XRP ended the day at $0.85256.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.80080 before making a move.

Steering clear of the first major support level at $0.7778, Ripple’s XRP rallied to a late intraday high $0.86217.

Ripple’s XRP broke through the first major resistance level at $0.8447 and the 23.6% FIB of $0.8533.

A late pullback, however, saw Ripple’s XRP fall back through the 23.6% FIB to sub-$0.85 before ending the day at $0.85 levels.

At the time of writing, Ripple’s XRP was down by 0.35% to $0.84960. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.84853 before rising to a high $0.85388.

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



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