Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 12th, 2021
For the day ahead
Litecoin would need to avoid a fall through the $184.41 pivot level to support a run at the first major resistance level at $193.04.
Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s swing hi $195.15 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 sits at $202.27.
Failure to avoid a fall through the $184.41 pivot level would bring the first major support level at $175.18 into play.
Barring an extended sell-off, Litecoin should steer clear of the second major support level at $166.55.
Looking at the Technical Indicators
First Major Support Level: $175.18
Pivot Level: $184.41
First Major Resistance Level: $193.04
23.6% FIB Retracement Level: $155
38.2% FIB Retracement Level: $130
62% FIB Retracement Level: $90
Ripple’s XRP rose by 4.80% on Thursday. Following on from a 6.00% rally on Wednesday, Ripple’s XRP ended the day at $0.52917.
Tracking the broader market, Ripple’s XRP slipped to an early morning intraday low $0.49895 before making a move.
Steering clear of the first major support level at $0.4568, Ripple’s XRP rallied to a late afternoon intraday high $0.53544.
Falling short of the first major resistance level at $0.5487, Ripple’s XRP fell back to end the day at $0.529 levels.
At the time of writing, Ripple’s XRP was down by 0.35% to $0.52733. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.53051 before falling to a low $0.52725.
Ripple’s XRP left the major support and resistance levels untested early on.