Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 1st, 2021

For the day ahead

Litecoin would need to avoid a fallback to sub-$130 levels to support a run at $135 levels. Support from the broader market would be needed, however, for Litecoin to break out from the second major resistance level at $133.94.

Barring an extended crypto rally, the second major resistance level and resistance at $135 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $140 before any pullback. The third major resistance level sits at $142.29.

A fall back through the first major resistance level at $129.18 would bring the $125.59 pivot level into play before any recovery.

Barring an extended sell-off on the day, however, Litecoin should steer clear of  sub-$125 levels. The first major support level sits at $120.82.

Looking at the Technical Indicators

First Major Support Level: $120.82

Pivot Level: $125.59

First Major Resistance Level: $129.17

23.6% FIB Retracement Level: $112

38.2% FIB Retracement Level: $96

62% FIB Retracement Level: $69

Ripple’s XRP

Ripple’s XRP rose by 3.82% on Thursday. Partially reversing a 4.51% slide from Wednesday, Ripple’s XRP ended the day at $0.21950. It was the first daily gain in 7-days.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.20520 before finding support.

Steering clear of the first major support level at $0.1897, Ripple’s XRP rose to a late morning intraday high $0.22927.

Falling short of the first major resistance level at $0.2352, however, Ripple’s XRP slid back to $0.215 levels before revisiting $0.228 levels.

In spite of a bearish end to the day, Ripple’s XRP held avoided a fall back into the red.

At the time of writing, Ripple’s XRP was up by 2.09% to $0.22409. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.21601 before rising to a high $0.22790.

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