Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 18th, 2021

For the day ahead

Litecoin would need to avoid a fall through the $226.22 pivot level to support a run at the first major resistance level at $248.91.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s new swing hi $237.59.

Barring an extended crypto rally, the first major resistance level and resistance at $250 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $260.29.

Failure to avoid a fall through the $226.22 pivot level would bring the first major support level at $214.84 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$200 and the second major support level at $192.15.

Looking at the Technical Indicators

First Major Support Level: $214.84

Pivot Level: $226.22

First Major Resistance Level: $248.91

23.6% FIB Retracement Level: $187

38.2% FIB Retracement Level: $156

62% FIB Retracement Level: $106

Ripple’s XRP

Ripple’s XRP rose by 2.60% on Wednesday. Partially reversing a 5.35% slide from Tuesday, Ripple’s XRP ended the day at $0.53367.

Tracking the broader market, Ripple’s XRP fell through the 23.6% FIB of $0.5320 to an early morning intraday low $0.49394 before making a move.

Steering clear of the first major support level at $0.4745, Ripple’s XRP rose to a late afternoon intraday high $0.55741.

Falling short of the first major resistance level at $0.5726, Ripple’s XRP eased back to end the day at $0.53 levels.

The 23.6% FIB of $0.5320 delivered support late in the day.

At the time of writing, Ripple’s XRP was up by 2.47% to $0.54673. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.53489 to a high $0.54775.

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