Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 21st, 2020

For the day ahead

Litecoin would need to avoid a fall back through the $115.90 pivot to support a run at the first major resistance level at $121.94.

Support from the broader market would be needed, however, for Litecoin to break back through to $120 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $123.19 would likely cap any upside.

In the event of another extended breakout, Litecoin could resistance at $130 before any pullback. The second major resistance level sits at $129.24.

Failure to move through the $115.90 pivot level would bring the first major support level at $108.60 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$100 levels. The second major support level at $102.56 and 23.6% FIB of $101 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $108.60

Pivot Level: $115.90

First Major Resistance Level: $121.94

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 3.58% on Sunday. Following on from a 1.14% decline from Saturday, Ripple’s XRP ended the week up by 8.41% to $0.55632.

It was also a mixed start to the day. Recovering from an early morning low $0.56473, Ripple’s XRP rose to a mid-morning intraday high $0.58658 before hitting reverse.

Falling short of the first major resistance level at $0.5954, Ripple’s XRP slid to a late intraday low $0.52863.

Ripple’s XRP fell through the first major support level at $0.5634 and the second major support level at $0.5488.

Finding support at the 38.2% FIB of $0.5285, Ripple’s XRP revisited $0.56 levels before easing back to sub-$0.56 levels.

Ripple’s XRP moved back through the second major support level of $0.5488 late on. The first major support level at $0.5634 pinned Ripple’s XRP back, however.

At the time of writing, Ripple’s XRP was up by 0.76% to $0.56053. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.54702 before rising to a high $0.56200.

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