Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 12th, 2021

Ethereum

Ethereum rose by 2.57% on Thursday. Reversing a 1.64% fall from Wednesday, Ethereum ended the day at $1,787.32.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,704.23 before making a move.

Steering clear of the first major support level at $1,669, Ethereum rallied to an early afternoon intraday high $1,819.0.

Falling short of the first major resistance level at $1,828 and Wednesday’s swing hi $1,839.0, Ethereum fell back to a low $1,760.0.

Finding late support, however, Ethereum moved back through to $1,780 levels to deliver the upside.

At the time of writing, Ethereum was up by 0.30% to $1,792.63. A mixed start to the day saw Ethereum fall to an early morning low $1,781.04 before rising to a high $1,794.00.

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 $1,770 to support a run at the first major resistance level at $1,836.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $1,819.

Barring an extended crypto rally, the first major resistance level and Wednesday’s swing hi $1,839.00 would likely cap any upside.

In the event of an extended crypto rally, Ethereum could test resistance at $1,900 before any pullback. The second major resistance level sits at $1,885.

Failure to avoid a fall through the $1,770 pivot would bring the first major support level at $1,721 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,700 levels. The second major support level sits at $1,655.

Looking at the Technical Indicators

First Major Support Level: $1,721

Pivot Level: $1,770

First Major Resistance Level: 1,836

23.6% FIB Retracement Level: $1,424

38.2% FIB Retracement Level: $1,167

62% FIB Retracement Level: $752

Litecoin

Litecoin rose by 2.84% on Thursday. Following a 0.02% decline on Wednesday, Litecoin ended the day at $183.80.

It was also a bearish start to the day. Litecoin fell to an early morning intraday low $175.79 before making a move.

Steering clear of the first major support level at $169.55, Litecoin rallied to an early afternoon intraday high $193.65.

Falling short of the first major resistance level at $194.56 and Wednesday’s swing hi $195.15, Litecoin slid back to sub-$183 levels.

Finding late support, however, a move back through to $187 levels before easing back.

At the time of writing, Litecoin was up by 0.63% to $184.95. A bullish start to the day saw Litecoin rise from an early morning low $183.71 to a high $184.96.

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

For the day ahead

Litecoin would need to avoid a fall through the $184.41 pivot level to support a run at the first major resistance level at $193.04.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s swing hi $195.15 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $202.27.

Failure to avoid a fall through the $184.41 pivot level would bring the first major support level at $175.18 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $166.55.

Looking at the Technical Indicators

First Major Support Level: $175.18

Pivot Level: $184.41

First Major Resistance Level: $193.04

23.6% FIB Retracement Level: $155

38.2% FIB Retracement Level: $130

62% FIB Retracement Level: $90

Ripple’s XRP

Ripple’s XRP rose by 4.80% on Thursday. Following on from a 6.00% rally on Wednesday, Ripple’s XRP ended the day at $0.52917.

Tracking the broader market, Ripple’s XRP slipped to an early morning intraday low $0.49895 before making a move.

Steering clear of the first major support level at $0.4568, Ripple’s XRP rallied to a late afternoon intraday high $0.53544.

Falling short of the first major resistance level at $0.5487, Ripple’s XRP fell back to end the day at $0.529 levels.

At the time of writing, Ripple’s XRP was down by 0.35% to $0.52733. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.53051 before falling to a low $0.52725.

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 $0.5212 pivot level to bring the first major resistance level at $0.5434 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.53 levels.

Barring another extended crypto rally, the first major resistance level and Thursday’s high $0.53544 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the 62% FIB of $0.5522 and the second major resistance level at $5577.

Failure to avoid a fall through the $0.5212 pivot would bring the first major support level at $0.5069 into play.

Barring an extended sell-off, Ripple’s XRP should steer clear of the second major support level at $0.4847.

Looking at the Technical Indicators

First Major Support Level: $0.5069

Pivot Level: $0.5212

First Major Resistance Level: $0.5434

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