Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 21st, 2020 – Yahoo Finance

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Ethereum

Ethereum fell by 3.10% on Sunday. Reversing a 0.66% gain from Saturday, Ethereum ended the week up by 8.12% to $638.4.

A bullish start to the day saw Ethereum rise to a late morning intraday high $661.40 before falling to $642 levels.

Ethereum fell through the first major support level at $646.31 before briefly revisiting $658 levels. A late sell-off, however, saw Ethereum slide to a late intraday low $621.46.

The sell-off saw Ethereum fall through the first major support level at $646.31 and the second major support level at $633.67.

Finding late support, however, Ethereum moved back through the second major support level to reduce the loss for the day.

At the time of writing, Ethereum was up by 0.67% to $642.65. A mixed start to the day saw Ethereum fall to an early morning low $634.16 before rising to a high $642.65.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid a fall back through the pivot level at $640.42 to support a run at the first major resistance level at $659.38.

Support from the broader market would be needed, however, for Ethereum to break back through to $650 levels.

Barring another extended crypto rally, the first major resistance level and resistance at $660 would likely cap any upside.

In the event of another extended crypto rally, Ethereum could test resistance at $670 before any pullback. The second major resistance level sits at $680.36.

Failure to avoid a fall back through the $640.42 pivot would bring the first major support level at $619.44 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$600 levels. The second major support level at $600.48 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $619.44

Pivot Level: $640.42

First Major Resistance Level: $659.38

23.6% FIB Retracement Level: $536

38.2% FIB Retracement Level: $449

62% FIB Retracement Level: $308

Litecoin

Litecoin slid by 4.49% on Sunday. Partially reversing a 9.66% gain from Saturday, Litecoin ended the week up by 39.48% to $114.65.

It was also a mixed start to the day. Recovering from an early morning low $118.3, Litecoin struck a mid-morning intraday high $123.19 before hitting reverse.

Falling short of the first major resistance level at $127.78, Litecoin slid to a late intraday low $109.85.

Steering clear of the first major support level at $108.88, Litecoin moved back through to $115 levels before easing back.

At the time of writing, Litecoin was up by 1.29% to $116.13. A mixed start to the day saw Litecoin fall to an early morning low $113.12 before striking a high $116.14.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to avoid a fall back through the $115.90 pivot to support a run at the first major resistance level at $121.94.

Support from the broader market would be needed, however, for Litecoin to break back through to $120 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $123.19 would likely cap any upside.

In the event of another extended breakout, Litecoin could resistance at $130 before any pullback. The second major resistance level sits at $129.24.

Failure to move through the $115.90 pivot level would bring the first major support level at $108.60 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$100 levels. The second major support level at $102.56 and 23.6% FIB of $101 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $108.60

Pivot Level: $115.90

First Major Resistance Level: $121.94

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 3.58% on Sunday. Following on from a 1.14% decline from Saturday, Ripple’s XRP ended the week up by 8.41% to $0.55632.

It was also a mixed start to the day. Recovering from an early morning low $0.56473, Ripple’s XRP rose to a mid-morning intraday high $0.58658 before hitting reverse.

Falling short of the first major resistance level at $0.5954, Ripple’s XRP slid to a late intraday low $0.52863.

Ripple’s XRP fell through the first major support level at $0.5634 and the second major support level at $0.5488.

Finding support at the 38.2% FIB of $0.5285, Ripple’s XRP revisited $0.56 levels before easing back to sub-$0.56 levels.

Ripple’s XRP moved back through the second major support level of $0.5488 late on. The first major support level at $0.5634 pinned Ripple’s XRP back, however.

At the time of writing, Ripple’s XRP was up by 0.76% to $0.56053. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.54702 before rising to a high $0.56200.

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 $0.5572 pivot level to bring the first major resistance level at $0.5857 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.58 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.58658 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance at $0.6151.

Failure to avoid a fall back through the $0.5572 pivot would bring the 38.2% FIB of $0.5285 and the first major support level at $0.5278 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.50 support levels. The second major support level sits at $0.4992.

Looking at the Technical Indicators

First Major Support Level: $0.5278

Pivot Level: $0.5572

First Major Resistance Level: $0.5857

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

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