Litecoin price – Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 16th, 2021
For the day ahead
Litecoin would need to avoid a fall through the $204.83 pivot level to support a run at the first major resistance level at $223.07.
Support from the broader market would be needed, however, for Litecoin to breakout from Monday’s high $220.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at the swing hi $230.81 and the second major resistance level at $238.25.
Failure to avoid a fall through the $204.83 pivot level would bring the first major support level at $189.65 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$180 and the second major support level at $171.41. The 23.6% FIB of $182 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $189.65
Pivot Level: $204.83
First Major Resistance Level: $223.07
23.6% FIB Retracement Level: $182
38.2% FIB Retracement Level: $152
62% FIB Retracement Level: $104
Ripple’s XRP slid by 7.42% on Monday. Following a 6.74% fall on Sunday, Ripple’s XRP ended the day at $0.54911.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.60449 before hitting reverse.
Falling short of the first major resistance level at $0.6346, Ripple’s XRP tumbled to an early morning intraday low $.51117.
Ripple’s XRP fell through the first major support level at $0.5564 and the second major support level at $0.5202.
More importantly, Ripple’s XRP fell through the 23.6% FIB of $0.5320 before finding support.
Ripple’s XRP broke back through the 23.6% FIB and the major support levels to revisit $0.58 levels.
A bearish end to the day, however, saw Ripple’s XRP fall back through the first major support level to end the day at sub-$0.55 levels.
At the time of writing, Ripple’s XRP was down by 1.37% to $0.54159. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.55000 before falling to al ow $0.54076.
Ripple’s XRP left the major support and resistance levels untested early on.
Litecoin price – Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 16th, 2021
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