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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 12th, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – June 12th, 2021
Written by publisher team

for the next day

Litecoin will need to move across the $166 pivot to fetch the first major resistance at $171 and the 62% Fib of $174.

Support from the broader market will be needed, however, for Litecoin to break out of $165 levels.

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 $179.

A failure to move across the $166 pivot will trigger the first major support level to appear at $158.

Barring another extended sell off, Litecoin should move away from levels below $150. The second major support level at $153 should limit the downside.

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: $158

Pivot level: $166

First major resistance level: $171

23.6% Fib Retracement Level: $322

38.2% Fib Retracement Level: $265

62% Fib Retracement Level: $174

Ripple XRP

XRP is down 2.85% on Friday. After dropping 5.80% on Thursday, XRP finished the day at $0.84,400.

After a mixed start to the day, XRP of Ripple climbed to an afternoon high at $0.87937 before reversing in the opposite direction.

After dropping below the first major resistance at $0.9149, Ripple’s XRP slipped to an intraday low of $0.83459.

Ripple’s XRP is down 62% FIB at $0.8573 and the first major support at $0.8374.

However, after finding late support, Ripple’s XRP once again broke through the first major support level to end the day at $0.84 levels.

At the time of writing, XRP is down 0.25% to 0.84188. A bearish start to the day saw Ripple XRP drop from the early morning high of $0.84672 to $0.84188.

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

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