Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 27th, 2021
For the day ahead
Litecoin would need to avoid a fall through the $171.81 pivot level to support a run at the first major resistance level at $181.39.
Support from the broader market would be needed, however, for Litecoin to break back through to $180 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $182.90 would likely cap any upside.
In the event of an extended breakout, Litecoin could test the second major resistance level at $192.48 and 23.6% FIB of $195.
Failure to avoid a fall through the $171.81 pivot level would bring the 38.2% FIB of $163 and the first major support level at $160.72 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $151.14.
Looking at the Technical Indicators
First Major Support Level: $160.72
Pivot Level: $171.81
First Major Resistance Level: $181.39
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP fell by 1.54% on Friday. Following on from a 6.93% slide on Thursday, Ripple’s XRP ended the day at $0.42821.
A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.41137.
Finding support at the first major support level at $0.4133, Ripple’s XRP rose to a late afternoon intraday high $0.45030.
Falling well short of the first major resistance level at $0.4700, however, Ripple’s XRP fell back to sub-$0.42 levels before finding support.
A late move back through to $0.42 levels reduced the deficit on the day.
At the time of writing, Ripple’s XRP was up by 1.45% to $0.43443. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.42843 before rising to a high $0.43699.
Ripple’s XRP left the major support and resistance levels untested early on.