Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 19th, 2021
For the day ahead
Litecoin would need to move through the $202 pivot level to support a run at the first major resistance level at $206.
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 Thursday’s high $208.23 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $212.
Failure to move through the $202 pivot level would bring the first major support level at $196 and the 23.6% FIB of $195 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$190 support levels. The second major support level at $193 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $196
Pivot Level: $202
First Major Resistance Level: $206
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP fell by 0.25% on Thursday. Following a 2.04% gain on Wednesday, Ripple’s XRP ended the day at $0.46898.
A bearish start saw Ripple’s XRP fall to an early morning intraday low $0.46633 before making a move.
Steering clear of the 38.2% FIB of $0.4632 and the first major support level at $0.4554, Ripple’s XRP struck a mid-day intraday high $0.4900.
Ripple’s XRP broke through the first major resistance level at $0.4834 before a slide back to $0.466 levels.
Finding late support, Ripple’s XRP revisited $0.47 levels before falling back into the red.
At the time of writing, Ripple’s XRP was down by 0.59% to $0.46619. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.46902 to a low $0.46453.
Ripple’s XRP left the major support and resistance levels untested early on.