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

For the day ahead

Litecoin would need to avoid a fall through the $164 pivot level to support a run at the first major resistance level at $175.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $173.17.

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 the second major resistance level at $184.

Failure to avoid a fall through the $164 pivot level would bring the 38.2% FIB of $163 and the first major support level at $155 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $144.

Looking at the Technical Indicators

First Major Support Level: $155

Pivot Level: $164

First Major Resistance Level: $175

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 4.45% on Sunday. Reversing a 1.82% gain from Saturday, Ripple’s XRP ended the week down by 23.57% to $0.41661.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.43831 before hitting reverse.

Falling short of the first major resistance level at $0.4541, Ripple’s XRP slid to a late afternoon intraday low $0.3934.

Ripple’s XRP fell through the first major support level at $0.4231 and the second major support level at $0.4098.

Finding late support, Ripple’s XRP revisited $0.42 levels before falling back. The first major support level pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.74% to $0.41351. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.41862 before falling to a low $0.41351.

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