Ethereum, Litecoin, and Ripple's XRP – Daily Tech Analysis – January 4th, 2021 – FX Empire


For the day ahead

Litecoin would need to avoid a fall through the $154.00 pivot level to support a run at the first major resistance level at $172.50.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $164.98.

Barring an extended crypto rally, the first major resistance level and resistance at $175 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level sits at $183.48.

Failure to avoid a fall through the $154.00 pivot level would bring the first major support level at $143.02 into play before any recovery.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the 23.6% FIB of $132. The second major support level sits at $124.52.

Looking at the Technical Indicators

First Major Support Level: $143.02

Pivot Level: $154.00

First Major Resistance Level: $172.50

23.6% FIB Retracement Level: $132

38.2% FIB Retracement Level: $112

62% FIB Retracement Level: $79

Ripple’s XRP

Ripple’s XRP rose by 1.85% on Sunday. Partially reversing a 7.16% slide from Saturday, Ripple’s XRP ended the week down by 20.6% to $0.22518.

A mixed start to the day saw Ripple’s XRP fall to a mid-morning intraday low $0.21524 before finding support.

Steering clear of the first major support level at $0.2084, Ripple’s XRP rose to a late afternoon intraday high $0.23886.

Ripple’s XRP broke through the first major resistance level at $0.2362 before falling back to $0.2210 levels.

Avoiding a fall back into the red, Ripple’s XRP moved back through to $0.225 levels to deliver the upside for the day.

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At the time of writing, Ripple’s XRP was down by 0.19% to $0.22476. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22705 before falling to a low $0.22375.

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



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