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


For the day ahead

Litecoin would need to avoid a fall back through the $168 pivot to bring the 62% FIB and the first major resistance level at $174 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $170.20.

Barring an extended crypto rally, the first major resistance level and the 62% FIB would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $181.

A fall back through the $168 pivot would bring the first major support level at $162 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $156.

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: $162

Pivot Level: $168

First Major Resistance Level: $174

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP fell by 5.80% on Thursday. Reversing a 5.58% gain from Wednesday, Ripple’s XRP ended the day at $0.86864.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.93000 before hitting reverse.

Falling short of the first major resistance level at $0.9523, Ripple’s XRP slid to a late intraday low $0.85253.

Ripple’s XRP fell through the first major support level at $0.8615 and the 62% FIB of $0.8573.

Finding late support, however, Ripple’s XRP broke back through the major support level and the 62% FIB to end the day at $0.868 levels.

At the time of writing, Ripple’s XRP was up by 0.19% to $0.87019. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.85683 before rising to a high $0.87394.

While leaving the major support and resistance levels untested early on, Ripple’s XRP tested support at the 62% FIB of $0.8573.



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