Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 9th, 2021 – Yahoo Finance

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Ethereum

Ethereum fell by 0.83% on Friday. Partially reversing a 1.21% gain from Thursday, Ethereum ended the day at $1,217.35.

It was a bearish start to the day. Ethereum fell through the first major support level at $1,147.58 to an early morning intraday low $1,063.18.

Finding support at the second major support level at $1,067.82, Ethereum rallied to a mid-day intraday high $1,275.00.

Falling short of the first major resistance level at $1,299.52, Ethereum fell back through the first major support level to $1,135 levels.

Finding late support, however, Ethereum moved back through to $1,217 levels to limit the loss on the day.

At the time of writing, Ethereum was up by 1.15% to $1,231.39. A bullish start to the day saw Ethereum rise from an early morning low $1,217.31 to a high $1,234.56.

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 $1,185.18 to support a run at the first major resistance level at $1,307.17.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s swing hi $1,291.94.

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

In the event of another extended crypto rally, Ethereum could test resistance at $1,450 before any pullback. The second major resistance level sits at $1,397.00.

Failure to avoid a fall through the $1,185.18 pivot would bring the first major support level at $1,095.35 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $973.36. The 23.6% FIB of $1,006 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,095.35

Pivot Level: $1,185.18

First Major Resistance Level: $1,307.17

23.6% FIB Retracement Level: $1,006

38.2% FIB Retracement Level: $829

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 1.60% on Friday. Following on from a 0.18% gain on Thursday, Litecoin ended the day at $172.46.

A bearish start to the day saw Litecoin fall to an early morning intraday low $150.20 before making a move.

Litecoin fell through the first major support level at $160.75 and the second major support level at $151.75.

Steering clear of sub-$150 levels, Litecoin rallied to a late afternoon intraday high and a new swing hi $181.55.

Litecoin broke through the first major resistance level at $180.00 before sliding to $163 levels and into the red.

Finding late support, however, Litecoin revisited $174 levels before ending the day at $172 levels.

At the time of writing, Litecoin was up by 1.23% to $174.58. A bullish start to the day saw Litecoin rise from an early morning low $172.39 to a high $175.00.

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

For the day ahead

Litecoin would need to avoid a fall through the $168.07 pivot level to support a run at the first major resistance level at $185.94.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s swing hi $181.55.

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $199.42.

Failure to avoid a fall through the $168.07 pivot level would bring the first major support level at $154.59 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $136.72.

Looking at the Technical Indicators

First Major Support Level: $154.59

Pivot Level: $168.07

First Major Resistance Level: $185.94

23.6% FIB Retracement Level: $145

38.2% FIB Retracement Level: $122

62% FIB Retracement Level: $85

Ripple’s XRP

Ripple’s XRP fell by 0.84% on Friday. Partially reversing Thursday’s 29.93% rally, Ripple’s XRP ended the day at $0.3211.

It was a choppy start to the day. Ripple’s XRP rose to an early morning intraday high $0.34626 before hitting reverse.

Falling short of the first major resistance level at $0.3818, Ripple’s XRP slid to an early morning intraday low $0.28076.

The reversal saw Ripple’s XRP fall through the 23.6% FIB before finding support.

Steering clear of the first major support level at $0.2562, Ripple’s XRP revisited $0.34 levels before a 2nd slide to sub-$0.30 levels.

Finding late support, however, Ripple’s XRP broke back through the 23.6% FIB to wrap up the day at $0.32 levels.

At the time of writing, Ripple’s XRP was up by 0.90% to $0.3240. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.32088 before rising to a high $0.32741.

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 23.6% FIB of $0.3172 and the $0.3160 pivot level to bring the first major resistance level at $0.3513 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.34626.

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 $0.40 before any pullback. The second major resistance sits at $0.3815.

Failure to avoid a fall through the 23.6% FIB of $0.3172 and the $0.3160 pivot would bring the first major support level at $0.2858 into play.

Barring an extended crypto sell-off, Ripple’s XRP should continue to avoid sub-$0.25 levels. The second major support level at $0.2505 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2858

Pivot Level: $0.3160

First Major Resistance Level: $0.3513

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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