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


For the day ahead

Litecoin would need to avoid the $166 pivot to bring the 62% FIB and the first major resistance level at $180 back into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 62% FIB of $174.

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 $200. The second major resistance level sits at $187.

A fall through the $166 pivot would bring the first major support level at $159 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $145.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $159

Pivot Level: $166

First Major Resistance Level: $180

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

 

Ripple’s XRP

Ripple’s XRP rose by 5.58% on Wednesday. Following a 1.45% gain on Tuesday, Ripple’s XRP ended the day at $0.92205.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.83125 before finding support.

While steering clear of the first major support level at $0.8100, Ripple’s XRP fell through the 62% FIB of $0.8573.

The recovery, however, saw Ripple’s XRP break back through the 62% FIB to hit a final hour intraday high $0.92205.

Ripple’s XRP also broke through the first major resistance level at $0.9124 to wrap up the day at $0.92 levels.

At the time of writing, Ripple’s XRP was up by 0.78% to $0.92924. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.91691 before rising to a high $0.92924.

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



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