Home Ripple Ethereum, Litecoin, and Ripple's XRP – Daily Tech Analysis – March 6th, 2021 – FX Empire

Ethereum, Litecoin, and Ripple's XRP – Daily Tech Analysis – March 6th, 2021 – FX Empire

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For the day ahead

Litecoin would need to avoid a fall through the $178 pivot level to support a run at the first major resistance level at $186.

Support from the broader market would be needed, however, for Litecoin to break out from $185 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.

In the event of an extended rally, Litecoin could test the second major resistance level at $192 and the 23.6% FIB of $195.

Failure to avoid a fall through the $178 pivot level would bring the first major support level at $171 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $163 and the 38.2% FIB of $163.

Looking at the Technical Indicators

First Major Support Level: $171

Pivot Level: $178

First Major Resistance Level: $186

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slid by 5.27% on Friday. Partially reversing a 7.33% rally from Thursday, Ripple’s XRP ended the day at $0.45649.

It was a choppy start to the day. Ripple’s XRP rose to an early morning intraday high $0.48418 before hitting reverse.

Falling short of the first major resistance level at $0.5050, Ripple’s XRP slid to an early morning intraday low $0.44629.

The sell-off saw Ripple’s XRP fall through the 38.2% FIB of $0.4632 before steadying.

Finding support at the first major support level at $0.4463, Ripple’s XRP revisited $0.46 levels before easing back. The 38.2% FIB of $0.4632 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.19% to $0.45736. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.45388 before rising to a high $0.45799.

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

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