Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 5th, 2021


For the day ahead

Litecoin would need to avoid the $141 pivot to bring the first major resistance level at $146 into play.

Support from the broader market would be needed, however, for Litecoin to back through to $145 levels.

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

In the event of another extended breakout, Litecoin could test the second major resistance level at $150.

A fall through the $141 pivot would bring the first major support level at $137 into play.

Barring another extended sell-off, however, Litecoin should continue to steer clear of sub-$135 levels. The second major support level sits at $132.

Looking at the Technical Indicators

First Major Support Level: $137

Pivot Level: $141

First Major Resistance Level: $146

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 2.12% on Wednesday. Partially reversing a 3.41% slide from Tuesday, Ripple’s XRP ended the day at $0.73049.

A mixed start to the day saw Ripple’s XRP fall to a late morning intraday low $0.69558 before making a move.

Steering clear of the first major support level at $0.6940, Ripple’s XRP rallied to a late intraday high $0.73919.

Ripple’s XRP broke through the first major resistance level at $0.7381 before briefly falling back to sub-$0.73 levels.

At the time of writing, Ripple’s XRP was up by 0.32% to $0.73280. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.72906 before rising to a high $0.73280.

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

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