Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 1st, 2021

For the day ahead

Litecoin would need to avoid the $171 pivot to bring the first major resistance level at $176 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $175 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $175.40 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $185 before any pullback. The second major resistance level at sits $181. Litecoin would need plenty of support, however, to break out from the 23.6% FIB of $178.

A fall through the $171 pivot would bring the first major support level at $166 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level at $161 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $171

First Major Resistance Level: $176

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 7.82% on Tuesday. Reversing a 3.53% loss from Monday, Ripple’s XRP ended the month up by 58.96% to $1.18651.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.09181 before making a move.

Steering clear of the first major support level at $1.0819, Ripple’s XRP rallied to a late afternoon intraday high $1.24279.

Ripple’s XRP broke through the day’s major resistance levels before a slide back to sub-$1.16 levels.

The pullback saw Ripple’s XRP fall back through the third major resistance level at $1.2202 and the second major resistance level at $1.1678.

Finding late support, however, Ripple’s XRP broke back through the second major resistance level to end the day at $1.18 levels.

At the time of writing, Ripple’s XRP was up by 0.04% to $1.18698. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.17175 before rising to a high $1.19398.

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

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