Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 7th, 2021


For the day ahead

Litecoin would need to move back 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 Sunday’s high $180.06 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 $184.

Failure to move back through the $176 pivot would bring the 38.2% FIB of $174 and the first major support level at $172 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$165 levels. The second major support level at $168 should limit the downside.

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: $172

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 rose by 2.55% on Sunday. Partially reversing a 5.02% slide from Saturday, Ripple’s XRP ended the week up by 4.51% to $0.94602.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.91819 before making a move.

Steering clear of the first major support level at $0.8780, Ripple’s XRP rose to a midday intraday high $0.94932.

Falling short of the first major resistance level at $0.9821, Ripple’s XRP fell back to $0.92 levels and into the red.

Finding late support, however, Ripple’s XRP moved back through to $0.94 levels to end the day in the green.

At the time of writing, Ripple’s XRP was up by 0.25% to $0.94840. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.94602 to a high $0.96342.

Ripple’s XRP broke through the first major resistance level at $0.9575 early on.



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