Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 25th, 2021

Ethereum

Ethereum rallied by 12.92% on Sunday. Following a 0.09% gain on Saturday, Ethereum ended the week up by 13.1% to $1,394.00.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,221.66 before making a move.

Steering clear of the first major support level at $1,197, Ethereum rallied to a late intraday high $1,401.92.

Ethereum broke through the day’s major resistance levels before easing back to $1,394 levels.

In spite of the late pullback, Ethereum avoided a fall back through the third major resistance level at $1,384.95.

At the time of writing, Ethereum was up by 0.91% to $1,406.62. A mixed start to the day saw Ethereum fall to an early morning low $1,384.15 before rising to a high $1,409.00.

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 $1,339 to support a run at the first major resistance level at $1,457.

Support from the broader market would be needed, however, for Ethereum to break out from the swing hi $1,440.00.

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

In the event of another extended crypto rally, Ethereum could test resistance at $1,550 before any pullback. The second major resistance level sits at $1,520.

Failure to avoid a fall through the $1,339 pivot would bring the first major support level at $1,277 into play.

Barring an extended sell-off, however, Ethereum should steer clear of 23.6% FIB of $1,119. The second major support level at $1,159 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,277

Pivot Level: $1,339

First Major Resistance Level: $1,457

23.6% FIB Retracement Level: $1,119

38.2% FIB Retracement Level: $921

62% FIB Retracement Level: $600

Litecoin

Litecoin rose by 2.43% on Sunday. Following a 0.01% gain on Saturday, Litecoin ended the week down by 1.14% to $141.13.

A bearish start to the day saw Litecoin fall to an early morning low $136.34 before making a move.

Steering clear of the major support levels, Litecoin rose to a mid-morning intraday high $142.63.

Coming up against the first major resistance level at $142.53, Litecoin slid to a late intraday low $133.86.

Litecoin fell through the first major support level at $133.99 before a late recovery to end the day at $141 levels.

At the time of writing, Litecoin was down by 0.25% to $140.78. A mixed start to the day saw Litecoin rise to an early morning high $141.78 before falling to a low $140.78.

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

For the day ahead

Litecoin would need to avoid a fall through the $139.21 pivot level to support a run at the first major resistance level at $144.55.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $142.63.

Barring an extended crypto rally, the first major resistance level and resistance at $145 would likely cap any upside.

In the event of an extended breakout, Litecoin could test the second major resistance level at $147.98 and the 23.6% FIB of $148. Resistance at $150 would likely cap the upside, however.

Failure to move through the $139.21 pivot level would bring first major support level at $135.78 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $130.44.

Looking at the Technical Indicators

First Major Support Level: $135.78

Pivot Level: $139.21

First Major Resistance Level: $144.55

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripple’s XRP

Ripple’s XRP rose by 0.62% on Sunday. Reversing a 0.12% decline from Saturday, Ripple’s XRP ended week down by 12% to $0.27357.

A bearish start to the day saw Ripple’s XRP fall to an early morning low $0.26850 before making a move.

Steering clear of the first major support level at $0.2638, Ripple’s XRP rose to a mid-morning intraday high $0.27789.

Falling short of the first major resistance level at $0.2818, Ripple’s XRP fell to a late intraday low $0.26800.

Continuing to avoid the major support levels, Ripple’s XRP recovered to end the day at $0.273 levels.

At the time of writing, Ripple’s XRP was up by 0.40% to $0.27466. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.27336 before rising to a high $0.27529.

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 $0.2732 pivot level to bring the first major resistance level at $0.2783 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.27789.

Barring an extended crypto rally, the first major resistance and resistance at $0.28 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.29 before any pullback. The second major resistance sits at $0.2830.

Failure to avoid a fall through the $0.2732 pivot would bring the first major support level at $0.2684 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2633.

Looking at the Technical Indicators

First Major Support Level: $0.2684

Pivot Level: $0.2732

First Major Resistance Level: $0.2783

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