Ethereum, Litecoin, and Ripple's XRP – Daily Tech Analysis – March 31st, 2021 – FX Empire

For the day ahead

Litecoin would need to avoid a fall through the $195 pivot level and the 23.6% FIB to support a run at the first major resistance level at $201.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, Tuesday’s high $200.08 and the first major resistance level would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $205.

Failure to avoid a fall through the 23.6% FIB of $195 and the $195 pivot level would bring the first major support level at $191 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$180 levels. The second major support level at $185 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $191

Pivot Level: $195

First Major Resistance Level: $201

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 0.46% on Tuesday. Following a 3.41% gain on Monday, Ripple’s XRP ended the day at $0.56336.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.55938 before making a move.

Steering clear of the first major support level at $0.5488, Ripple’s XRP rallied to a late morning intraday high $0.58603.

Ripple’s XRP broke through the first major resistance level at $0.5763 before hitting reverse.

Coming within range of the second major resistance level at $0.5873, Ripple’s XRP slid back to sub-$0.56 levels before finding support.

READ  EncrypGen (DNA) Reaches Market Capitalization of $1.13 Million - Slater Sentinel

Through the latter part of the day, Ripple’s XRP revisited $0.568 levels before falling back into the red.

At the time of writing, Ripple’s XRP was up by 0.07% to $0.56377.  A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.56314 to a high $0.56418.

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



Please enter your comment!
Please enter your name here