Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 19th, 2021
For the day ahead
Litecoin would need to move through the $158 pivot to bring the first major resistance level at $166 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $167.39 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at and the 62% FIB of $174. The second major resistance level sits at $175.
Failure to move through the $158 pivot would bring the first major support level at $149 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level at $142 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: $149
Pivot Level: $158
First Major Resistance Level: $166
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP fell by 5.33% on Friday. Reversing a 0.89% gain from Thursday, Ripple’s XRP ended the day at $0.79529.
A bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $0.84480 before hitting reverse.
Falling short of the 62% FIB of $0.8573 and the first major resistance level at $0.8600, Ripple’s XRP slid to a late afternoon intraday low $0.77000.
The extended sell-off saw Ripple’s XRP slide through the first major support level at $0.8224 and the second major support level at $0.8041.
Steering clear of the third major support level at $0.7665, Ripple’s XRP ended the day at $0.79 levels.
At the time of writing, Ripple’s XRP was up by 0.43% to $0.79874. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.79436 before rising to a high $0.79929.
Ripple’s XRP left the major support and resistance levels untested early on.