Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 26th, 2021

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For the day ahead

Litecoin would need to avoid a fall through the $182 pivot to bring the first major resistance level at $197 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $194.89.

Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $220. The second major resistance level sits at $210.

Failure to avoid a fall through the $182 pivot would bring the 62% FIB of $174 and the first major support level at $169 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $155.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $169

Pivot Level: $182

First Major Resistance Level: $197

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP fell by 1.60% on Tuesday. Partially reversing a 25.42% rally from Monday, Ripple’s XRP ended the day at $0.97696.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $1.05906 before hitting reverse.

Falling short of the first major resistance level at $1.0768, Ripple’s XRP slid to a mid-day intraday low $0.88200.

Steering clear of the 62% FIB of $0.8573 and the first major support level at $0.8343, Ripple’s XRP revisited $0.98 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.37% to $0.98055. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.96942 before rising to a high $0.98055.

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

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