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


For the day ahead

Litecoin would need to move through the $176 pivot to bring the first major resistance level at $180 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $180 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $181.26 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 $185.

Failure to move through the $176 pivot would bring the 62% FIB of $174 and the first major support level at $171 back into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $167.

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: $171

Pivot Level: $176

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 fell by 2.70% on Tuesday. Reversing a 0.55% gain from Monday, Ripple’s XRP ended the day at $0.86683.

A choppy start to the day saw Ripple’s XRP rise to an early morning intraday high $0.90166 before hitting reverse.

Falling short of the first major resistance level at $0.9252, Ripple’s XRP slid to an early afternoon intraday low $0.85640.

Ripple’s XRP fell through the first major support level at $0.8598 and the 62% FIB of $0.8573.

Finding late support, however, Ripple’s XRP broke back through the 62% FIB and the first major support level to end the day at $0.86 levels.

At the time of writing, Ripple’s XRP was down by 0.43% to $0.86314. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.86607 to a low $0.86186.

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



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