Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 2nd, 2021

For the day ahead

Litecoin would need to avoid the 23.6% FIB of $178 and the $177 pivot to bring the first major resistance level at $186 into play.

Support from the broader market would be needed, however, for Litecoin to break back out from Wednesday’s high $182.78.

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 $200 before any pullback. The second major resistance level at sits $192.

A fall through the 23.6% FIB of $178 and the $177 pivot would bring the first major support level at $172 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $163.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $177

First Major Resistance Level: $186

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 4.33% on Wednesday. Following a 7.82% rally on Tuesday, Ripple’s XRP ended the day at $1.2377.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.15995 before making a move.

Steering clear of the first major support level at $1.1046, Ripple’s XRP rallied to a late intraday high $1.23600.

In spite of the breakout, however, Ripple’s XRP fell short of the first major resistance level at $1.2556.

At the time of writing, Ripple’s XRP was down by 0.97% to $1.22565. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.23941 before falling to a low $1.22296.

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

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