Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 5th, 2021

For the day ahead

Litecoin would need to move through the $184 pivot level to support a run at the first major resistance level at $191.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $195 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $202.

Failure to move through the $184 pivot level would bring the first major support level at $174 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $167.

Looking at the Technical Indicators

First Major Support Level: $174

Pivot Level: $184

First Major Resistance Level: $191

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 7.33% on Thursday. Following on from a 2.97% gain on Wednesday, Ripple’s XRP ended the day at $0.48101.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.43562 before making a move.

Steering clear of the first major support level at $0.4310, Ripple’s XRP rallied to a late intraday high $0.49431.

Ripple’s XRP broke through the first major resistance level at $0.4683 and the second major resistance level at $0.4872.

More significantly, Ripple’s XRP also broke through the 38.2% FIB of $0.4632.

A late pullback, however, saw Ripple’s XRP fall back to a low $0.45027 levels before finding support.

Steering clear of sub-$0.45 levels, Ripple’s XRP broke back through first major resistance level and the 38.2% FIB to end the day at $0.48 levels.

At the time of writing, Ripple’s XRP was down by 1.23% to $0.47508. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.48418 before falling to a low $0.47225.

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