Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 8th, 2021


For the day ahead

Litecoin would need to move through the $168 pivot to bring the 62% FIB of $174 and the first major resistance level at $176 into play.

Support from the broader market would be needed, however, for Litecoin to out from the 62% FIB.

Barring an extended crypto rally, the first major resistance level and resistance at $180 would likely cap any upside.

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

Failure to move through the $168 pivot would bring the first major support level at $154 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $146.

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: $154

Pivot Level: $168

First Major Resistance Level: $176

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 8.77% on Monday. Reversing a 2.55% gain from Sunday, Ripple’s XRP ended the day at $0.86301.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.97494 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.9575 and the second major resistance level at $0.9690.

The reversal, however, saw Ripple’s XRP slide to a late intraday low $0.84087.

Ripple’s XRP fell through the day’s major support levels and the 62% FIB of $0.8573.

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

At the time of writing, Ripple’s XRP was down by 0.40% to $0.85958. A mixed start to the day saw Ripple’s XRP fall to a low $0.85841 before rising to a high $0.86722.

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



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