Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 22nd, 2021

For the day ahead

Litecoin would need to move through the $227.25 pivot level to support a run at the first major resistance level at $234.24.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $233.95.

Barring an extended crypto rally, the first major resistance level and resistance at $235 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $250 before any pullback. The second major resistance level sits at $240.95.

Failure to move through the $227.25 pivot level would bring the first major support level at $220.54 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$210 levels. The second major support level at $213.55 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $220.54

Pivot Level: $227.25

First Major Resistance Level: $234.24

23.6% FIB Retracement Level: $191

38.2% FIB Retracement Level: $159

62% FIB Retracement Level: $108

Ripple’s XRP

Ripple’s XRP rallied by 6.47% on Sunday. Partially reversing a 9.33% slide from Saturday, Ripple’s XRP ended the week down by 8.09% to $0.54515.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.50387 before finding support.

Steering clear of the first major support level at $0.4347, Ripple’s XRP rallied to a late morning intraday high $0.55839.

While falling short of the first major resistance level at $0.5865, Ripple’s XRP broke through the 23.6% FIB of $0.5320.

A late pullback saw Ripple’s XRP briefly fall back through the 23.6% FIB before wrapping up the day at $0.54 levels.

At the time of writing, Ripple’s XRP was down by 1.23% to $0.53843. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.54687 before falling to a low $0.53458.

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