Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 31st, 2021

For the day ahead

Litecoin would need to move through the $170 pivot to bring the first major resistance level at $174 and the 23.6% FIB of $178 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the $170.

Barring an extended crypto rally, the first major resistance level and 23.6% FIB of $178 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $185 before any pullback. The second major resistance level at sits $180.

Failure to move through the $170 pivot would bring the first major support level at $164 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level at $160 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $164

Pivot Level: $170

First Major Resistance Level: $174

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 3.53% on Monday. Following on from a 0.55% loss on Sunday, Ripple’s XRP ended the day at $1.10100.

Tracking the broader market, Ripple’s XRP fell to an early afternoon low $1.10518 before making a move.

Ripple’s XRP slid through the first major support level at $1.1135 before rallying to a late intraday high $1.14870.

Falling short of the first major resistance level at $1.1681, Ripple’s XRP fell back through the first major support level to an intraday low $1.09627.

Steering clear of the second major support level at $1.0857, Ripple’s XRP ended the day at $1.10 levels.

At the time of writing, Ripple’s XRP was down by 0.37% to $1.09689. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.0092 before falling to a low $1.09269.

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