Home Ripple Ethereum, Litecoin, and Ripple's XRP – Daily Tech Analysis – February 23rd, 2021 – FX Empire

Ethereum, Litecoin, and Ripple's XRP – Daily Tech Analysis – February 23rd, 2021 – FX Empire

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For the day forward

Litecoin would want to maneuver again by way of the $204.99 pivot degree to help a run on the first main resistance degree at $230.96.

Help from the broader market can be wanted, nevertheless, for Litecoin to interrupt again by way of to $220 ranges.

Barring an prolonged crypto rally, the primary main resistance degree and Monday’s excessive $227.72 would probably cap any upside.

Within the occasion of an prolonged breakout, Litecoin might check resistance at $240 earlier than any pullback. The second main resistance degree sits at $253.69.

Failure to maneuver again by way of the $204.99 pivot degree would carry the 23.6% FIB of $195 and the primary main help degree at $182.26 into play.

Barring one other prolonged sell-off, Litecoin ought to steer effectively away from the second main help degree at $156.26. The 38.2% FIB of $163 ought to restrict the draw back within the occasion of a sell-off.

Wanting on the Technical Indicators

First Main Help Degree: $182.26

Pivot Degree: $204.99

First Main Resistance Degree: $230.96

23.6% FIB Retracement Degree: $191

38.2% FIB Retracement Degree: $159

62% FIB Retracement Degree: $108

Ripple’s XRP

Ripple’s XRP rose by 3.87% on Monday. Following on from a 6.47% rally from Sunday, Ripple’s XRP ended the day at $0.56619.

A blended begin to the day noticed soar to a mid-morning intraday excessive $0.64919.

Ripple’s XRP broke by way of the day’s main resistance ranges earlier than hitting reverse.

Going into the twond half of the day, Ripple’s XRP slid to an early afternoon intraday low $0.47000.

Ripple’s XRP fell by way of the primary main help degree at $0.5132 and the second main help degree at $0.4813.

Extra considerably, Ripple’s XRP fell again by way of the 23.6% FIB of $0.5320 earlier than revisiting $0.63 ranges late within the day.

Ripple’s XRP broke again by way of the primary main resistance degree at $0.5677 and the second main resistance degree at $0.5903.

A bearish finish to the day, nevertheless, noticed Ripple’s XRP fall again by way of the most important resistance ranges to finish the day at $0.566 ranges.

On the time of writing, Ripple’s XRP was down by 1.53% to 0.55755. A blended begin to the day noticed Ripple’s XRP rise to an early morning excessive $0.56869 earlier than falling to a low $0.55602.

Ripple’s XRP left the most important help and resistance ranges untested early on.

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