Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 21st, 2021
For the day forward
Litecoin would want to keep away from the $181 pivot to convey the primary main resistance stage at $187 into play.
Help from the broader market could be wanted, nonetheless, for Litecoin to interrupt out from $185 ranges.
Barring an prolonged crypto rally, the primary main resistance stage would probably cap any upside.
Within the occasion of an prolonged breakout, Litecoin might take a look at resistance at $195 earlier than any pullback. The second main resistance stage at sits $191.
A fall via the $181 pivot would convey the 23.6% FIB of $178 and the primary main assist stage at $177 into play.
Barring an prolonged sell-off, nonetheless, Litecoin ought to keep away from sub-$170 ranges. The second main assist stage at $171 ought to restrict the draw back.
Trying on the Technical Indicators
First Main Help Degree: $177
Pivot Degree: $181
First Main Resistance Degree: $187
23.6% FIB Retracement Degree: $178
38.2% FIB Retracement Degree: $223
62% FIB Retracement Degree: $296
Ripple’s XRP rose by 2.39% on Friday. Following a 7.82% rally on Thursday, Ripple’s XRP ended the day at $1.26451.
Monitoring the broader market, Ripple’s XRP fell to a mid-morning intraday low $1.20029 earlier than making a transfer.
Steering away from the primary main assist stage at $1.1385, Ripple’s XRP rallied to a late afternoon intraday excessive $1.28974.
Ripple’s XRP broke via the primary main resistance stage at $1.2826 earlier than easing again to $1.26 ranges.
On the time of writing, Ripple’s XRP was down by 1.21% to $1.24916. A bearish begin to the day noticed Ripple’s XRP fall from an early morning excessive $1.26299 to a low $1.24633.
Ripple’s XRP left the main assist and resistance ranges untested early on.