2021-03-11 00:27:38

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 11th, 2021

For the day ahead

Litecoin would need to move back through the $200 pivot level to support a run at the first major resistance level at $208.

Support from the broader market would be needed, however, for Litecoin to break out from $205 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $217.

Failure to move back through the $200 pivot level would bring 23.6% FIB of $195 and the first major support level at $192 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $183.

Looking at the Technical Indicators

First Major Support Level: $192

Pivot Level: $200

First Major Resistance Level: $208

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slid by 4.77% on Wednesday. Reversing a 2.38% gain from Tuesday, Ripple’s XRP ended the day at $0.46237.

It was another choppy day. Ripple’s XRP rose to an early morning intraday high $0.48865 before hitting reverse.

Falling short of the first major resistance level at $0.4917, Ripple’s XRP tumbled to an early morning intraday low $0.45521.

Ripple’s XRP fell through the first major support level at $0.4754 and the second major support level at $0.4653.

More significantly, Ripple’s XRP also fell through the 38.2% FIB of $0.4632.

Steering clear of sub-$0.45 levels, Ripple’s XRP revisited $0.472 levels before falling back into the deep red.

Ripple’s XRP had briefly broken back through the 38.2% FIB and the second major support level before revisiting sub-$0.46 levels.

A late move back through to $0.46 levels reduced the deficit on the day. The 38.2% FIB pinned Ripple’s XRP back late on, however.

At the time of writing, Ripple’s XRP was down by 0.58% to $0.45971. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.46161 to a low $0.45703.

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

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