Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 17th, 2021

For the day ahead

Litecoin would need to avoid a fall through the $210.77 pivot level to support a run at the first major resistance level at $221.35.

Support from the broader market would be needed, however, for Litecoin to break back through to $220 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $221.95 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at the swing hi $230.81 and the second major resistance level at $232.54.

Failure to avoid a fall through the $210.77 pivot level would bring the first major support level at $199.58 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 and the second major support level at $189.00.

Looking at the Technical Indicators

First Major Support Level: $199.58

Pivot Level: $210.77

First Major Resistance Level: $221.35

23.6% FIB Retracement Level: $182

38.2% FIB Retracement Level: $152

62% FIB Retracement Level: $104

Ripple’s XRP

Ripple’s XRP fell by 5.35% on Tuesday. Following on from a 7.42% slide on Monday, Ripple’s XRP ended the day at $0.51985.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.58012 before hitting reverse.

Falling short of the first major resistance level at $0.5987, Ripple’s XRP tumbled to a late intraday low $0.48201.

Ripple’s XRP fell through the first major support level at $0.5054 to visit sub-$0.50 levels for the first time since Thursday.

The sell-off also saw Ripple’s XRP fall through the 23.6% FIB of $0.5320.

Finding late support, however, Ripple’s XRP broke back through the first major support level to end the day at $0.519 levels.

At the time of writing, Ripple’s XRP was up by 1.38% to $0.52700. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.52017 to a high $0.52700.

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