Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 27th, 2021

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For the day ahead

Litecoin would need to move through the $171 pivot to bring the first major resistance level at $177 and the 23.6% FIB of $178 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $175 levels.

Barring an extended crypto rally, the first major resistance level and 23.6% FIB 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 $186.

Failure to move through the $171 pivot would bring the first major support level at $162 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $156.

Looking at the Technical Indicators

First Major Support Level: $162

Pivot Level: $171

First Major Resistance Level: $177

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 8.62% on Thursday. Reversing a 3.37% rise from Wednesday, Ripple’s XRP ended the day at $1.07225.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.1855 before hitting reverse.

Falling short of the first major resistance level at $1.1984, Ripple’s XRP slid to a late afternoon intraday low $1.06485.

Ripple’s XRP fell through the first major support level at $1.1290 and the second major support level at $1.0839.

Finding support at the 38.2% FIB of $1.0659, Ripple’s XRP briefly broke back through the second major support level before easing back.

At the time of writing, Ripple’s XRP was up by 0.22% to $1.07465. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.05061 before rising to a high $1.10075.

While leaving the major support and resistance levels untested early on, Ripple’s XRP briefly fell through the 38.2% FIB of $1.0659.

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