Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 7th, 2021

Fibo Quantum

For the day ahead

Litecoin would need to avoid the $147 pivot to bring the first major resistance level at $152 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $150.83.

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

In the event of another extended breakout, Litecoin could test resistance at $160 before any pullback. The second major resistance level at sits $156.

A fall through the $147 pivot would bring the first major support level at $143 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $138.

Looking at the Technical Indicators

First Major Support Level: $143

Pivot Level: $147

First Major Resistance Level: $152

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 1.71% on Friday. Following a 0.31% gain on Thursday, Ripple’s XRP ended the day at $0.74685.

A mixed start to the day saw Ripple’s XRP fall to a mid-day intraday low $0.72284 before making a move.

Steering clear of the first major support level at $0.7104, however, Ripple’s XRP rallied to a late intraday high $0.75229.

Ripple’s XRP broke through the first major resistance level at $0.7473 before easing back to sub-$0.747 levels.

At the time of writing, Ripple’s XRP was down by 0.12% to $0.74598. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.74196 before rising to a high $0.74614.

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

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