Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 15th, 2021
For the day ahead
Litecoin would need to move through the $219 pivot level to support a run at the first major resistance level at $223.
Support from the broader market would be needed, however, for Litecoin to break back through to $220 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $227.94 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $240 before any pullback. The second major resistance level sits at $233.
Failure to move through the $219 pivot level would bring the first major support level at $209 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$200 support levels. The second major support level at $205 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $209
Pivot Level: $219
First Major Resistance Level: $223
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP slid by 4.09% on Sunday. Reversing a 4.52% gain from Saturday, Ripple’s XRP ended the week down by 5.63% to $0.43989.
A mixed start saw Ripple’s XRP rise to an early morning intraday high $0.46124 before hitting reverse.
Ripple’s XRP fell short of the 38.2% FIB of $0.4632 and the first major resistance level at $0.4721.
The reversal saw Ripple’s XRP slide to a final hour intraday low $0.43911. In spite of the pullback, Ripple’s XRP avoided the first major support level at $0.4383 and wrapped up the day at $0.498 levels.
At the time of writing, Ripple’s XRP was up by 0.19% to $0.44072. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.43431 before rising to a high $0.44400.
Ripple’s XRP left the major support and resistance levels untested early on.