Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 19th, 2020

For the day ahead

Litecoin would need to avoid a fall through the $107.22 pivot to support a run at the first major resistance level at $115.16.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $112.92.

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

In the event of another extended breakout, Litecoin could resistance at $120 before any pullback. The second major resistance level sits at $120.86.

Failure to avoid a fall through the $107.22 pivot level would bring the first major support level at $101.52 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $93.58.

Looking at the Technical Indicators

First Major Support Level: $101.52

Pivot Level: $107.22

First Major Resistance Level: $115.16

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 1.29% on Friday. Following on from a 1.49% gain on Thursday, Ripple’s XRP ended the day at $0.58474.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.5510 before making a move.

Steering clear of the 38.2% FIB of $0.5285 and the first major support level at $0.5261, Ripple’s XRP rallied to an early morning intraday high $0.6181.

Falling short of the 23.6% FIB of $0.6274 and the first major resistance level at $0.6449, Ripple’s XRP fell back to $0.55 levels.

Finding late support, however, Ripple’s XRP moved back through to $0.58 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.62% to $0.58112. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.58656 before falling to a low $0.58079.

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