Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 26th, 2021
For the day ahead
Litecoin would need to move through the $186.63 pivot level to support a run at the 23.6% FIB of $195 and the first major resistance level at $198.04.
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 Thursday’s high $205.20 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $216.62.
Failure to move through the $186.63 pivot level would bring the first major support level at $168.05 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $156.64. The 38.2% FIB of $163 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $168.05
Pivot Level: $186.63
First Major Resistance Level: $198.04
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP slid by 6.93% on Thursday. Following a 0.38% decline on Wednesday, Ripple’s XRP ended the day at $0.43654.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.48195 before hitting reverse.
Falling short of the first major resistance level at $0.4960, Ripple’s XRP fell to a late morning low $0.45393.
Ripple’s XRP fell through the 38.2% FIB of $0.4632 before striking an early afternoon high $0.48115.
Continuing to fall short of the major resistance levels, Ripple’s XRP slid to a late intraday low $0.42524.
Ripple’s XRP fell through the 38.2% FIB and the first major support level at $0.4469 to end the day at $0.435 levels.
The late sell-off saw Ripple’s XRP come within range of the second major support level at $0.4245.
At the time of writing, Ripple’s XRP was down by 2.39% to $0.42522. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.43489 to a low $0.41674.
Ripple’s XRP left the major support and resistance levels untested early on.