Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 2nd, 2021

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For the day ahead

Litecoin would need to move through the $143 pivot to bring the first major resistance level at $147 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $145 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.

In the event of another extended breakout, Litecoin could test the second major resistance level at $155.

Failure to move through the $143 pivot would bring the first major support level at $136 into play.

Barring another extended sell-off, however, Litecoin should continue to steer clear of sub-$130 levels. The second major support level at $131 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $136

Pivot Level: $143

First Major Resistance Level: $147

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 2.83% on Sunday. Following a 0.89% loss on Saturday, Ripple’s XRP ended the week up by 19.54% to $0.72533.

After a mixed start to the day, Ripple’s XRP rose to a mid-morning intraday high $0.77741 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.7581 and the second major resistance level at $0.7697.

The reversal, however, saw Ripple’s XRP slide to a late intraday low $0.70587.

Ripple’s XRP fell through the first major support level at $0.7363 and the second major support level at $0.7262.

Steering clear of sub-$0.70 levels, Ripple’s XRP moved back through to $0.72 levels to reduce the deficit.

At the time of writing, Ripple’s XRP was up by 0.68% to $0.73027. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.72250 before rising to a high $0.73027.

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

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