Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 20th, 2021

For the day ahead

Litecoin would need to avoid the $171 pivot to bring the 23.6% FIB of $178 and the first major resistance level at $180 into play.

Support from the broader market would be needed, however, for Litecoin to break back out from the 23.6% FIB.

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 resistance at $190 before any pullback. The second major resistance level at sits $185.

A fall through the $171 pivot would bring the first major support level at $167 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $158.

Looking at the Technical Indicators

First Major Support Level: $167

Pivot Level: $171

First Major Resistance Level: $180

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 7.82% on Thursday. Following a 4.46% gain on Wednesday, Ripple’s XRP ended the day at $1.23437.

Tracking the broader market, Ripple’s XRP fell to a mid-day intraday low $1.09086 before making a move.

Steering clear of the 38.2% FIB of $1.0659 and the first major support level at $1.0657, Ripple’s XRP rallied to a late intraday high $1.23499.

Ripple’s XRP broke through the first major resistance level at $1.2111 to end the day at $1.234 levels.

At the time of writing, Ripple’s XRP was down by 0.47% to $1.22859. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.23768 before falling to a low $1.22114.

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