Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 4th, 2021

For the day ahead

Litecoin would need to avoid the $191 pivot to bring the first major resistance level at $200 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $197.67.

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 $215. The second major resistance level sits at $207.

A fall through the $191 pivot would bring the first major support level at $185.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $176.

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: $185

Pivot Level: $191

First Major Resistance Level: $200

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 2.06% on Thursday. After a 1.43% gain on Wednesday, Ripple’s XRP ended the day at $1.04516.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $1.00794 before making a move.

Steering clear of the first major support level at $0.9887, Ripple’s XRP rallied to a late morning intraday high $1.07773.

Ripple’s XRP broke through the first major resistance level at $1.0569 before a slide back to $1.02 levels and into the red.

A late move back through to $1.04 levels, however, delivered the upside on the day.

At the time of writing, Ripple’s XRP was up by 0.45% to $1.04049. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.04382 before falling to a low $1.04049.

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

News Source

جواب چھوڑ دیں

براہ مہربانی اپنی رائے درج کریں!
اپنا نام یہاں درج کریں