Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 14th, 2021

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For the day ahead

Litecoin would need to avoid a fall back through the $315 pivot to support a run at 23.6% FIB and the first major resistance level at $339.

Support from the broader market would be needed, however, for Litecoin to break back through to $330 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $336 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $350. The second major resistance level sits at $360.

Failure to avoid a fall back through the $315 pivot would bring the first major support level at $294 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the Second major support level at $270.

Looking at the Technical Indicators

First Major Support Level: $294

Pivot Level: $315

First Major Resistance Level: $339

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rallied by 8.67% on Thursday. Partially reversing a 15.2% slide from Wednesday, Ripple’s XRP ended the day at $1.36387.

A mixed start to the day saw Ripple’s XRP slide to an early morning intraday low $1.2000 before making a move.

Steering clear of the first major support level at $1.1483, Ripple’s XRP struck a mid-morning intraday high $1.38951.

While falling short of the first major resistance level at $1.4543, Ripple’s XRP broke through the 23.6% FIB of $1.2807 before hitting reverse.

The reversal saw Ripple’s XRP fall back through the 23.6% FIB to $1.22 levels before a late rebound to $1.36 levels.

At the time of writing, Ripple’s XRP was up by 0.12% to $1.36556. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.35526 before rising to a high $1.37498.

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

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