Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 16th, 2021


For the day ahead

Litecoin would need to move through the $207 pivot level to support a run at the first major resistance level at $216.

Support from the broader market would be needed, however, for Litecoin to break back through to $215 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $222.44 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $230 before any pullback. The second major resistance level sits at $232.

Failure to move through the $207 pivot level would bring the 23.6% FIB of $195 and the first major support level at $192 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 support levels. The second major support level sits at $182.

Looking at the Technical Indicators

First Major Support Level: $192

Pivot Level: $207

First Major Resistance Level: $216

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 0.79% on Monday. Following on from a 4.09% slide on Sunday, Ripple’s XRP ended the day at $0.43562.

A mixed start saw Ripple’s XRP rise to an early morning intraday high $0.44807 before hitting reverse.

Ripple’s XRP fell short of the first major resistance level at $0.4544, Ripple’s XRP slid to a late morning intraday low $0.42320.

The reversal saw Ripple’s XRP fall through the first major support level at $0.4323 and the second major support level at $0.4246.

Steering clear of sub-$0.42 levels, Ripple’s XRP broke back through the major support levels to end the day at $0.435 levels.

At the time of writing, Ripple’s XRP was up by 0.65% to $0.43847. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.43422 before rising to a high $0.43847.

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

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