Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 28th, 2020 – FX Empire

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For the day ahead

Litecoin would need to avoid a fall back through the $129.48 pivot to support a run at the first major resistance level at $137.42.

Support from the broader market would be needed, however, for Litecoin to break back through to $135 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $140 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $150 before any pullback. The second major resistance level sits at $147.23.

Failure to avoid a fall back through the $129.48 pivot level would bring the first major support level at $119.67 into play.

Barring an extended sell-off on the day, however, Litecoin should steer of sub-$115 levels. The second major support level sits at $111.72, with the 23.6% FIB at $112.

Looking at the Technical Indicators

First Major Support Level: $119.67

Pivot Level: $129.48

First Major Resistance Level: $137.42

23.6% FIB Retracement Level: $112

38.2% FIB Retracement Level: $96

62% FIB Retracement Level: $69

Ripple’s XRP

Ripple’s XRP fell by 3.76% on Sunday. Following on from a 7.26% slide on Saturday, Ripple’s XRP ended the week down by 49% to $0.28339.

A range-bound start to the day saw Ripple’s XRP rise to a mid-morning high $0.30313 before hitting reverse.

Falling short of the first major resistance level at $0.3211, Ripple’s XRP slid to a mid-day intraday low $0.26561.

Ripple’s XRP fell through the first major support level at $0.2750 before striking a late afternoon intraday high $0.31138.

Falling short of the first major resistance level at $0.3211 once more, Ripple’s XRP fell back to end the day at sub-$0.29 levels.

At the time of writing, Ripple’s XRP was up by 0.59% to $0.28505. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28000 before rising to a high $0.28550.

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

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