Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 10th, 2021

Ethereum

Ethereum rose by 1.09% on Tuesday. Following on from an 8.51% rally on Monday, Ethereum ended the day at $1,772.16.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $1,710.01 before making a move.

Steering clear of the first major support level at $1,619, Ethereum rallied to a late morning intraday high and a new swing hi $1,824.23.

Falling short of the first major resistance level at $1,833, Ethereum fell back to sub-$1,720 levels and into the red.

Late support delivered the upside on the day, however. Ethereum revisited $1,790 levels before easing back to end the day at $1,772 levels.

At the time of writing, Ethereum was down by 0.25% to $1,767.70. A mixed start to the day saw Ethereum rise to an early morning high $1,779.39 before falling to a low $1,766.66.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move back through the pivot level at $1,769 to support a run at the first major resistance level at $1,828.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $1,824.23.

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

In the event of an extended crypto rally, Ethereum could test resistance at $1,900 before any pullback. The second major resistance level sits at $1,883.

Failure to move back through the $1,769 pivot would bring the first major support level at $1,713 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,600 levels. The second major support level at $1,655 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,713

Pivot Level: $1,769

First Major Resistance Level: 1,828

23.6% FIB Retracement Level: $1,413

38.2% FIB Retracement Level: $1,158

62% FIB Retracement Level: $747

Litecoin

Litecoin rallied by 8.54% on Tuesday. Following on from a 10.99% jump on Monday, Litecoin ended the day at $181.92.

Story continues

It was also a mixed start to the day. Litecoin rose to a mid-morning high $174.45 before hitting reverse.

Falling short of the major resistance levels, Litecoin fell to an early afternoon intraday low $164.23.

Steering well clear of the first major support level at $153.91, Litecoin rallied to a late intraday high $184.71.

Litecoin broke through the first major resistance level at $175.41 and the second major resistance level at $183.20.

A late pullback, however, saw Litecoin fall back through the second major resistance level to end the day at $181 levels.

At the time of writing, Litecoin was down by 0.40% to $181.20. A mixed start to the day saw Litecoin rise to an early morning high $183.96 before falling to a low $180.90.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to avoid a fall through the $176.95 pivot level to support a run at the first major resistance level at $189.68.

Support from the broader market would be needed, however, for Litecoin to break out from the 10^th January swing hi $186.34.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $197.43.

Failure to avoid a fall through the $176.95 pivot level would bring the first major support level at $169.20 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $156.47.

Looking at the Technical Indicators

First Major Support Level: $169.20

Pivot Level: $176.95

First Major Resistance Level: $189.68

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripple’s XRP

Ripple’s XRP rose by 5.54% on Tuesday. Following on from a 7.79% rally on Monday, Ripple’s XRP ended the day at $0.47697.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.44946 before making a move.

Steering clear of the first major support level at $0.4203, Ripple’s XRP rallied to an early morning intraday high $0.49092.

Ripple’s XRP broke through the first major resistance level at $0.4768 before a pullback to an afternoon low $0.45025.

The visit into negative territory was brief, however. Finding late support, Ripple’s XRP broke back through the first major resistance level at $0.4768 to end the day at $0.4769 levels.

At the time of writing, Ripple’s XRP was down by 0.49% to $0.47463. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.47949 before falling to a low $0.47463.

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

For the day ahead

Ripple’s XRP will avoid a fall through the $0.4725 pivot level to bring the first major resistance level at $0.4954 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.49 levels.

Barring another extended crypto rally, the first major resistance level and resistance at $0.50 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could tests resistance at $0.55 before any pullback. The second major resistance level sits at $0.5139.

Failure to avoid a fall through the $0.4725 pivot would bring the first major support level at $0.4540 into play.

Barring an extended sell-off, Ripple’s XRP should steer clear of the second major support level at $0.4310.

Looking at the Technical Indicators

First Major Support Level: $0.4540

Pivot Level: $0.4725

First Major Resistance Level: $0.4954

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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