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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 11th, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 11th, 2021
Written by publisher team

for the next day

Litecoin will need to avoid a pullback across the $168 pivot to bring in the 62% Fib and the first major resistance level at $174.

Support from the broader market will be needed, though, for Litecoin’s breakout from the morning high at $170.20.

Barring an extended rally for the cryptocurrency, the first major resistance level and 62% FIB is likely to block any uptrend.

In the event of an extended breakout, Litecoin could test the resistance at $190. The second major resistance level is located at $181.

A pullback through the $168 pivot would trigger the first major support level at $162.

Barring another extended sell off, Litecoin should move away from the levels below $160. The second major support level is at $156.

Continued decline through 62% FIB of $174 would form a downtrend near 10y May’s swing is $413.91.

Looking at technical indicators

First Major Support Level: $162

Pivot level: $168

First major resistance level: $174

23.6% Fibonacci Retracement Level: $322

38.2% Fib Retracement Level: $265

62% Fib Retracement Level: $174

Ripple XRP

XRP is down 5.80% on Thursday. Reversing its 5.58% gain from Wednesday, XRP finished the day at $0.86864.

A mixed start to the day saw Ripple’s XRP surge to an intraday early morning high at $0.93000 before bouncing back in the opposite direction.

After dropping below the first major resistance at $0.9523, Ripple’s XRP slipped to an intraday low of $0.85253.

Ripple’s XRP fell through the first major support level at $0.8615 and 62% FIB at $0.8573.

However, after finding late support, Ripple’s XRP once again broke through the major support level and 62% FIB to end the day at $0.868 levels.

At the time of writing, Ripple’s XRP is up 0.19% to $0.87019. A mixed start to the day saw Ripple XRP drop to an early morning low of $0.85683 before climbing to $0.87394.

While leaving key support and resistance levels untested early on, Ripple’s XRP tested the 62% FIB support at $0.8573.

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