Yahoo Finance Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 15th, 2021
Ethereum
Ethereum rallied by 8.89% on Thursday. Following on from a 7.65% rise on Wednesday, Ethereum ended the day at $1,231.32.
A bearish start to the day saw Ethereum fall to an early morning intraday low $1,087.05 before making a move.
Steering clear of the 23.6% FIB of 1,051 and the first major support level at $1,028, Ethereum rallied to a late afternoon intraday high $1,246.99.
Ethereum broke through the first major resistance level at $1,186 to wrap up the day at $1,230 levels.
The second major resistance level at $1,241 pinned Ethereum back on the day.
At the time of writing, Ethereum was up by 1.58% to $1,250.74. A mixed start to the day saw Ethereum fall to an early morning low $1,224.18 before rising to a high $1,251.68.
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 $1,189 to support a run at the first major resistance level at $1,290.
Support from the broader market would be needed, however, for Ethereum to break out from $1,260 levels.
Barring an extended crypto rally, the first major resistance level and resistance $1,300 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 $1,348.
Failure to avoid a fall through the $1,189 pivot would bring the first major support level at $1,130 into play.
Barring an extended sell-off, however, Ethereum should steer clear of 23.6% FIB of $1,051 and the second major support level at $1,029.
Looking at the Technical Indicators
First Major Support Level: $1,130
Pivot Level: $1,189
First Major Resistance Level: $1,290
23.6% FIB Retracement Level: $1,051
38.2% FIB Retracement Level: $866
62% FIB Retracement Level: $566
Litecoin
Litecoin rose by 3.27% on Thursday. Following on from a 10.61% jump on Wednesday, Litecoin ended the day at $152.38.
A mixed start to the day saw Litecoin fall to an early morning intraday low $143.40 before making a move.
Steering clear of the first major support level at $132.7, Litecoin rallied to a late afternoon intraday high $156.87.
Litecoin broke through the 23.6% FIB of $148 and the first major resistance level at $155.3 before easing back.
A late pullback saw Litecoin fall back through the first major resistance level and the 23.6% FIB to $145 levels.
Finding late support, however, Litecoin moved back through the 23.6% FIB to end the day at $152 levels.
At the time of writing, Litecoin was up by 1.28% to $154.33. A mixed start to the day saw Litecoin fall to an early morning low $151.63 before rising to a high $154.50.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $150.9 pivot level to support a run at the first major resistance level at $158.4.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $156.87.
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 at $164.4.
Failure to avoid a fall through the $150.9 pivot level would bring the 23.6% FIB and the first major support level at $144.9 into play.
Barring an extended sell-off, Litecoin should avoid sub-$140 levels. The second major support level sits at $137.4.
Looking at the Technical Indicators
First Major Support Level: $144.9
Pivot Level: $150.9
First Major Resistance Level: $158.4
23.6% FIB Retracement Level: $148
38.2% FIB Retracement Level: $125
62% FIB Retracement Level: $87
Ripple’s XRP
Ripple’s XRP fell by 3.29% on Thursday. Partially reversing a 4.54% rally from Wednesday, Ripple’s XRP ended the day at $0.29573.
It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.30906 before hitting reverse.
Falling short of the first major resistance level at $0.3157, Ripple’s XRP slid to an early morning intraday low $0.28325.
Ripple’s XRP fell through the first major support level at $0.2899 before striking an afternoon high $0.30480.
Continuing to fall short of $0.31 levels, however, Ripple’s XRP slipped back to end the day at $0.295 levels.
At the time of writing, Ripple’s XRP was up by 0.43% to $0.2970. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.29557 before rising to a high $0.29809.
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 back through the $0.2960 pivot level to bring the first major resistance level at $0.3088 and the 23.6% FIB of $0.3172 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.
Barring another extended crypto rally, the first major resistance and Thursday’s high $0.30906 would likely cap any upside.
In the event of another extended rally, Ripple’s XRP could test resistance at $0.33 before any pullback. The second major resistance sits at $0.3218.
Failure to avoid a fall back through the $0.2960 pivot would bring the first major support level at $0.2830 into play.
Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.28 levels. The second major support level sits at $0.2702.
Looking at the Technical Indicators
First Major Support Level: $0.2830
Pivot Level: $0.2960
First Major Resistance Level: $0.3088
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
