Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 3rd, 2021

For the day ahead

Litecoin would need to avoid a fall through the $139.95 pivot level to support a run at 23.6% FIB of $148 and the first major resistance level at $148.05.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $145.95.

Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $160 before any pullback. The second major resistance level sits at $154.06.

Failure to avoid a fall through the $139.95 pivot level would bring the first major support level at $133.94 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $125.84 and the 38.2% FIB of $125.

Looking at the Technical Indicators

First Major Support Level: $133.94

Pivot Level: $139.95

First Major Resistance Level: $148.05

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 0.34% on Tuesday. Following Monday’s 25.14% slump, Ripple’s XRP ended the day at $0.37244.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.34007 before making a move.

Steering clear of the 23.6% FIB of $0.3172 and the first major support level at $0.2336, Ripple’s XRP rose to a late morning intraday high $0.41186.

While falling short of the first major resistance level at $0.6343, Ripple’s XRP broke through the 38.2% FIB of $0.4070.

A bearish second half of the day, however, saw Ripple’s XRP fall back through the 38.2% FIB to end the day at $0.372 levels.

At the time of writing, Ripple’s XRP was up by 1.94% to $0.37965. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.37340 to a high $0.37965.

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