Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 6th, 2021

For the day ahead

Litecoin would need to avoid a fall back through the $156.34 pivot level to support a run at the first major resistance level at $166.05.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $163.36.

Barring an extended crypto rally, the first major resistance level and resistance at $170 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $180 before any pullback. The second major resistance level sits at $173.08.

Failure to avoid a fall back through the $156.34 pivot level would bring the first major support level at $149.31 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$140 levels and the second major support level at $139.60.

Looking at the Technical Indicators

First Major Support Level: $149.31

Pivot Level: $156.34

First Major Resistance Level: $166.05

23.6% FIB Retracement Level: $139

38.2% FIB Retracement Level: $117

62% FIB Retracement Level: $82

Ripple’s XRP

Ripple’s XRP slid by 4.09% on Tuesday. Reversing a 4.54% gain from Monday, Ripple’s XRP ended the day at $0.22635.

Recovering from a mid-morning low $0.22551, Ripple’s XRP rallied to a late morning intraday high $0.24298 before hitting reverse.

Falling short of the first major resistance level at $0.2646. Ripple’s XRP slid to an early afternoon intraday low $0.21800.

Steering clear of the first major support level at $0.2109, Ripple’s XRP revisited $0.23 levels before falling back to $0.226 levels.

At the time of writing, Ripple’s XRP was down by 1.39% to $0.22321. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22662 before falling to a low $0.22200.

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