Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 16th, 2021

For the day ahead

Litecoin would need to avoid the $182 pivot to bring the first major resistance level at $189 into play.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $187.63.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level at sits $193.

A fall through the $182 pivot would bring the 23.6% FIB of $178 and the first major support level at $178 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level at $171 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $178

Pivot Level: $182

First Major Resistance Level: $189

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 0.41% on Sunday. Following a 17.57% breakout on Saturday, Ripple’s XRP ended the week up by 64.95% to $1.28584.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $1.34898 before hitting reverse.

Falling short of the first major resistance level at $1.3725, Ripple’s XRP slid to a mid-morning intraday low $1.22694.

Steering clear of the first major support level at $1.1320, Ripple’s XRP revisited $1.32 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.76% to $1.29560. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.26100 before rising to a high $1.30283.

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

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