Yahoo Finance Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 19th, 2021
Ethereum
Ethereum rose 2.10% on Monday. Following on from a 0.43% gain on Sunday, Ethereum ended the day at $1,258.48.
A mixed start to the day saw Ethereum rise to an early morning high $1,247.22 before hitting reverse.
Falling short of the first major resistance level at $1,279, Ethereum slid to an early morning intraday low $1,181.90.
Steering clear of the first major support level at $1,176, Ethereum rallied to a late intraday high $1,261.00.
Falling short of the first major resistance level at $1,279, Ethereum eased back on to end the day at sub-$1,260 levels.
At the time of writing, Ethereum was up by 0.30% to $1,262.22. A bullish start to the day saw Ethereum rise from an early morning low $1,258.54 to a high $1,274.30.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the pivot level at $1,234 to support a run at the first major resistance level at $1,286.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $1,261.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended crypto rally, Ethereum could test resistance at $1,350 before any pullback. The second major resistance level sits at $1,313.
Failure to avoid a fall through the $1,234 pivot would bring the first major support level at $1,207 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,100 levels. The second major support level at $1,155 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1,207
Pivot Level: $1,234
First Major Resistance Level: $1,286
23.6% FIB Retracement Level: $1,051
38.2% FIB Retracement Level: $866
62% FIB Retracement Level: $566
Litecoin
Litecoin rallied by 6.39% on Monday. Reversing a 0.54% decline from Sunday, Litecoin ended the day at $151.88.
A mixed start to the day saw Litecoin rise to an early morning high $144.52 before hitting reverse.
Falling short of the first major resistance level at $147.77, Litecoin slid to an early morning intraday low $138.27.
Steering clear of the first major support level at $138.27, Litecoin surged to an early afternoon intraday high $155.00.
Litecoin broke through the first major resistance level at $147.77 and the second major resistance level at $152.74.
More significantly, Litecoin also broke through the 23.6% FIB of $148.
Through the late afternoon, Litecoin fell back to through the resistance levels and the 23.6% FIB to revisit $145 levels. In spite of the pullback, Litecoin avoided a fall back into the red.
Finding late support, Litecoin broke back through the first and second major resistance level and the 23.6% FIB to revisit $153 levels.
A late pullback, however, saw Litecoin fall back through the second major resistance level to end the day at sub-$152 levels.
At the time of writing, Litecoin was up by 0.05% to $151.95. A mixed start to the day saw Litecoin rise to an early morning high $153.17 before falling to a low $151.61.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $148.38 pivot level and the 23.6% FIB of $148 to support a run at the first major resistance level at $158.50.
Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $155.00.
Barring an extended crypto rally, the first major resistance level and resistance at $160 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $170. The second major resistance level sits at $165.11.
Failure to avoid a fall through the $148.38 pivot level and the 23.6% FIB would bring the first major support level at $141.77 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $131.65.
Looking at the Technical Indicators
First Major Support Level: $141.77
Pivot Level: $148.38
First Major Resistance Level: $158.50
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 2.77% on Monday. Reversing a 0.68% decline from Sunday, Ripple’s XRP ended the day at $0.28536.
Tracking the broader market, Ripple’s XRP rose to an early morning high $0.27864 before hitting reverse.
Falling short of the first major resistance level at $0.2857, Ripple’s XRP slid to an early morning intraday low $0.27158.
Steering clear of the first major support level at $0.2687, Ripple’s XRP rallied to a mid-day intraday high $0.28852.
Ripple’s XRP broke through the first major resistance level at $0.2857 before falling back to sub-$0.28 levels.
Finding late support, however, Ripple’s XRP moved back through to $0.285 levels to deliver the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.13% to $0.28500. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.28736 before falling to a low $0.28500.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.2818 pivot level to bring the first major resistance level at $0.2921 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.29 levels.
Barring another extended crypto rally, the first major resistance would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at $0.30 levels. The second major resistance sits at $0.2988.
Failure to avoid a fall through the $0.2818 pivot would bring the first major support level at $0.2751 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.27 levels. The second major support level sits at $0.2649.
Looking at the Technical Indicators
First Major Support Level: $0.2751
Pivot Level: $0.2818
First Major Resistance Level: $0.2921
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
