2021-07-01 01:45:11

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 1st, 2021

For the day ahead

Litecoin would need to move back through the $143 pivot to bring the first major resistance level at $149 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $146.94.

Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $160. The second major resistance level sits at $153.

Failure to move back through the $143 pivot would bring the first major support level at $138 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$130 levels. The second major support level at $132 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $138

Pivot Level: $143

First Major Resistance Level: $149

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 0.60% on Wednesday. Partially reversing a 9.51% rally from Tuesday, Ripple’s XRP ended the day at $0.70304.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.71322 before hitting reverse.

Falling short of the first major resistance level at $0.7443, Ripple’s XRP slid to a late afternoon intraday low $0.64855.

Ripple’s XRP fell through the first major support level at $0.6546 before a partial recovery to $0.70 levels.

At the time of writing, Ripple’s XRP was down by 1.48% to $0.69262. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.70433 to a low $0.69236.

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

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