2021-02-26 08:00:00

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 26th, 2021

LTCUSD 260221 Hourly Chart

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

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.

empty message

empty message

empty message

empty message

empty message