Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 28th, 2021

For the day ahead

Litecoin would need to avoid the $173 pivot to bring the 23.6% FIB of $178 and the first major resistance level at $180 into play.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB.

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 $190 before any pullback. The second major resistance level at sits $184.

A fall through the $173 pivot would bring the first major support level at $169 into play.

Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $161.

Looking at the Technical Indicators

First Major Support Level: $169

Pivot Level: $173

First Major Resistance Level: $180

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 11.15% on Friday. Reversing an 8.62% slide from Thursday, Ripple’s XRP ended the day at $1.19177.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.05061 before making a move.

While steering clear of the first major support level at $1.0296, Ripple’s XRP fell through the 38.2% FIB of $1.0659.

The rebound, however, saw Ripple’s XRP rally to a final hour intraday high $1.19177.

Ripple’s XRP broke through the first major resistance level at $1.1592 to end the day at $1.19 levels.

At the time of writing, Ripple’s XRP was down by 0.05% to $1.19115. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.18643 before rising to a high $1.19711.

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

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