Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 5th, 2021


For the day ahead

Litecoin would need to avoid a fall back through the $181 pivot to bring the first major resistance level at $192 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $193.80 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $210. The second major resistance level sits at $205.

A fall back through the $181 pivot would bring the 38.2% FIB of $174 and the first major support level at $167 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: $167

Pivot Level: $181

First Major Resistance Level: $192

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP slid by 7.09% on Friday. Reversing a 2.06% gain from Thursday. Ripple’s XRP ended the day at $0.96904.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.04382 before hitting reverse.

Falling short of the first major resistance level at $1.0793, Ripple’s XRP slid to a late morning intraday low $0.91692.

The sell-off saw Ripple’s XRP fall through the first major support level at $1.0095 and the second major support level at $0.9738.

Steering clear of the third major support level at $0.9040, Ripple’s XRP revisited $0.98 before a bearish end to the day.

Ripple’s XRP briefly broke back through the second major support level at $0.9738 before ending the day at sub-$0.97 levels.

At the time of writing, Ripple’s XRP was up by 0.86% to $0.97742. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.96370 before rising to a high $0.97742.

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



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