Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 24th, 2021


For the day ahead

Litecoin would need to move back through the $188 pivot to bring the first major resistance level at $191 into play.

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 Monday’s high $181.80 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 at sits $196.

Failure to move back through the $188 pivot would bring the first major support level at $183 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major resistance level at $179 and the 23.6% FIB of $178.

Looking at the Technical Indicators

First Major Support Level: $183

Pivot Level: $188

First Major Resistance Level: $191

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 1.47% on Monday. Following a 0.91% gain on Sunday, Ripple’s XRP ended the day at $1.24621.

A bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $1.30363 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $1.2630 and the second major resistance level at $1.2896.

Coming up against resistance at $1.30 levels, Ripple’s XRP slid to an early afternoon intraday low $1.20001.

Steering clear of the first major support level at $1.1859, Ripple’s XRP moved back through to $1.24 levels and into the green.

At the time of writing, Ripple’s XRP was up by 0.11% to $1.24758. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.24391 before rising to a high $1.25120.

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

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