Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – March 17th, 2021

For the day ahead

Litecoin would need to avoid a fall through the $199 pivot level to support a run at the first major resistance level at $208.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $205.27.

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

In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $214.

Failure to avoid a fall through the $199 pivot level would bring the 23.6% FIB of $195 and the first major support level at $194 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$185 support levels. The second major support level at $185 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $194

Pivot Level: $199

First Major Resistance Level: $208

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 5.48% on Tuesday. Reversing a 0.79% fall from Monday, Ripple’s XRP ended the day at $0.45984.

A mixed start saw Ripple’s XRP fall to an early morning intraday low $0.42736 before making a move.

Steering clear of the first major support level at $0.4232, Ripple’s XRP rallied to a mid-morning intraday high $0.53116.

Ripple’s XRP broke through the day’s major resistance levels and the 38.2% FIB of $0.4632.

Coming up against the 23.6% FIB of $0.5320, Ripple’s XRP slid back to $0.447 levels before wrapping up the day at $0.4598 levels.

Ripple’s XRP fell back through the major resistance levels and the 38.2% FIB.

The late move back through to $0.46 levels, however, saw Ripple’s XRP break back through the first major resistance level at $0.4481 and the second major resistance level at $0.4605 before easing back.

Late in the day, the 38.2% FIB of $0.4632 pinned Ripple’s XRP back.

At the time of writing, Ripple’s XRP was up by 0.37% to $0.46156. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.46061 before rising to a high $0.46357.

While Ripple’s XRP left the major support and resistance levels untested, the 38.2% FIB of $0.4632 pinned Ripple’s XRP back.


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