Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 13th, 2021

For the day ahead

Litecoin would need to avoid a fall through the $215 pivot level to support a run at the first major resistance level at $231.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $224.33.

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 $245 before any pullback. The second major resistance level sits at $240.

Failure to avoid a fall through the $215 pivot level would bring the first major support level at $205 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $189. The 23.6% FIB of $195 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $205

Pivot Level: $215

First Major Resistance Level: $231

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 2.80% on Friday. Following on from a 2.06% decline on Thursday, Ripple’s XRP ended the day at $0.43941.

A mixed start saw Ripple’s XRP rise to an early morning intraday high $0.46441 before hitting reverse.

Ripple’s XRP broke through the 38.2% FIB of $0.4632 and the first major resistance level at $0.4636.

The reversal saw Ripple’s XRP slide to an early afternoon intraday low $0.42330. Ripple’s XRP fell through the first major support level at $0.4408 and the second major support level at $0.4295.

Finding early afternoon support on, Ripple’s XRP revisited $0.448 levels before a second pullback.

Ripple’s XRP fell back through the first major support level at $0.4408 to end the day at sub-$0.44 levels.

At the time of writing, Ripple’s XRP was down by 0.79% to $0.43595. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.43843 before falling to a low $0.43500.

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


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