Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 18th, 2021


For the day ahead

Litecoin would need to avoid a fall through the $202 pivot level to support a run at the first major resistance level at $211.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $207.73.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $215.

Failure to avoid a fall through the $202 pivot level would bring the first major support level at $198 and the 23.6% FIB of $195 into play.

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

Looking at the Technical Indicators

First Major Support Level: $198

Pivot Level: $202

First Major Resistance Level: $211

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rose by 2.04% on Wednesday. Following on from a 5.48% rally on Tuesday, Ripple’s XRP ended the day at $0.47013.

A bullish start saw Ripple’s XRP break through the 38.2% FIB of $0.4632 to an early morning intraday high $0.48200 before hitting reverse.

Coming up well short of the first major resistance level at $0.5182, Ripple’s XRP slid to a late morning intraday low $0.45400.

While steering clear of the first major support level at $0.4144, Ripple’s XRP fell back through the 38.2% FIB.

Finding late morning support, however, Ripple’s XRP broke back through the 38.2% FIB to $0.472 levels.

In spite of a late pullback, Ripple’s XRP wrapped up the day at $0.47 levels.

At the time of writing, Ripple’s XRP was up by 0.56% to $0.47276. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.47014 to a high $0.47276.

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

Leave a Reply