Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 23rd, 2021

For the day ahead

Litecoin would need to avoid the $185 pivot to bring the first major resistance level at $191 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $189.81.

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

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level at sits $195.

A fall through the $185 pivot would bring the first major support level at $181 and the 23.6% FIB of $178 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $175.

Looking at the Technical Indicators

First Major Support Level: $181

Pivot Level: $185

First Major Resistance Level: $191

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 0.91% on Saturday. Partially reversing a 3.57% fall from Saturday, Ripple’s XRP ended the week down by 4.55% to $1.22737.

Tracking the broader market, Ripple’s XRP rose to a late morning intraday high $1.25708 before hitting reverse.

Falling short of the first major resistance level at $1.2645, Ripple’s XRP slid to a mid-afternoon intraday low $1.18000.

Ripple’s XRP fell through the first major support level at $1.1868 before ending the day at $1.22 levels.

At the time of writing, Ripple’s XRP was up by 0.21% to $1.22998. A mixed start to the day saw Ripple’s XRP fall to an early low $1.22752 before rising to a high $1.23399.

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