Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 20th, 2021
For the day ahead
Litecoin would need to move back through the $200 pivot level to support a run at the first major resistance level at $205.
Support from the broader market would be needed, however, for Litecoin to break out from $200 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $204.95 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $209.
Failure to move back through the $200 pivot level would bring the first major support level at $196 and the 23.6% FIB of $195 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$190 support levels. The second major support level at $191 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $196
Pivot Level: $200
First Major Resistance Level: $205
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP fell by 0.37% on Friday. Following a 0.25% decline on Thursday, Ripple’s XRP ended the day at $0.46727.
A bearish start saw Ripple’s XRP fall to an early morning intraday low $0.45902 before making a move.
Ripple’s XRP fell through the 38.2% FIB of $0.4632 and the first major support level at $0.4602.
Finding morning support, Ripple’s XRP struck a mid-day intraday high $0.47499.
Falling short of the first major resistance level at $0.4839, however, Ripple’s XRP fell back to sub-$0.47 levels and into the red.
At the time of writing, Ripple’s XRP was down by 0.34% to $0.4657. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.46672 before falling to a low $0.46557.
Ripple’s XRP left the major support and resistance levels untested early on.