Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 4th, 2021

For the day ahead

Litecoin would need to move through the $139 pivot to bring the first major resistance level at $143 into play.

Support from the broader market would be needed, however, for Litecoin to back through to $140 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $143.26 would likely cap any upside.

In the event of another extended breakout, Litecoin could test the second major resistance level at $147.

Failure to move through the $139 pivot would bring the first major support level at $135 into play.

Barring another extended sell-off, however, Litecoin should continue to steer clear of sub-$130 levels. The second major support level at $132 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $135

Pivot Level: $139

First Major Resistance Level: $143

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 3.41% on Tuesday. Reversing a 2.16% gain from Monday, Ripple’s XRP ended the day at $0.71242.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.74530 before hitting reverse.

Falling short of the first major resistance level at $0.7701, Ripple’s XRP slid to a late afternoon intraday low $0.70118.

Ripple’s XRP fell through the first major support level at $0.7122 before briefly revisiting $0.714 levels.

At the time of writing, Ripple’s XRP was down by 0.17% to $0.71364. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.71531 to a low $0.71223.

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