Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 25th, 2021


For the day ahead

Litecoin would need to move through the $178 pivot and the 23.6% FIB of $178 to bring the first major resistance level at $184 into play.

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 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level at sits $195.

Failure to move through the $178 pivot and 23.6% FIB would bring the first major support level at $168 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $162.

Looking at the Technical Indicators

First Major Support Level: $168

Pivot Level: $178

First Major Resistance Level: $184

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slid by 8.63% on Tuesday. Reversing a 1.47% gain from Monday, Ripple’s XRP ended the day at $1.13691.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $1.26500 before hitting reverse.

Falling short of the first major resistance level at $1.2999, Ripple’s XRP slid to a late afternoon intraday low $1.12152.

Ripple’s XRP fell through the first major support level at $1.1963 and the second major support level at $1.1463 to end the day at $1.13 levels.

At the time of writing, Ripple’s XRP was up by 1.22% to $1.15077. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.13489 before rising to a high $1.15656.

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

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