Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 26th, 2021

Ethereum

Ethereum slid by 5.46% on Monday. Partially reversing a 12.92% rally from Sunday, Ethereum ended the day at $1,317.97.

A bullish start to the day saw Ethereum rally to an early morning intraday high and a new swing hi $1,477.30 before hitting reverse.

Ethereum broke through first major resistance level at $1,457 before falling to a late intraday low $1,293.65.

Steering clear of the first major support level at $1,277, Ethereum moved back through to $1,300 levels to limit the downside.

At the time of writing, Ethereum was up by 1.69% to $1,340.19. A mixed start to the day saw Ethereum fall to an early morning low $1,301.05 before striking a high $1,340.19.

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

For the day ahead

Ethereum would need to move through the pivot level at $1,363 to support a run at the first major resistance level at $1,432.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,400 levels.

Barring an extended crypto rally, the first major resistance level and swing hi $1,477.30 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 $1,547.

Failure to move through the $1,363 pivot would bring the first major support level at $1,249 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$1,200 levels. The second major support level sits at $1,179.

Looking at the Technical Indicators

First Major Support Level: $1,249

Pivot Level: $1,363

First Major Resistance Level: $1,432

23.6% FIB Retracement Level: $1,148

38.2% FIB Retracement Level: $944

62% FIB Retracement Level: $614

Litecoin

Litecoin fell by 2.86% on Monday. Reversing a 2.43% gain from Sunday, Litecoin ended the day at $137.13.

A mixed start to the day saw Litecoin surge to an early morning intraday high $147.69.

Litecoin broke through the first major resistance level at $144.55 before hitting reverse.

Coming up against the first major resistance level at $147.98 and the 23.6% FIB of $148, Litecoin slid to a late intraday low $136.62.

Steering clear of the first major support level at $135.78, Litecoin moved back through to $137 levels to limit the loss on the day.

At the time of writing, Litecoin was up by 0.84% to $138.28. A mixed start to the day saw Litecoin fall to an early morning low $136.09 before rising to a high $138.50.

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

For the day ahead

Litecoin would need to move through the $140.48 pivot level to support a run at the first major resistance level at $144.34 and the 23.6% FIB.

Support from the broader market would be needed, however, for Litecoin to break out from $140 levels.

Barring an extended crypto rally, the first major resistance level and 23.6% FIB of $148 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $155 before any pullback. The second major resistance level sits at $151.55.

Failure to move through the $140.48 pivot level would bring first major support level at $133.27 into play.

Barring another extended sell-off, Litecoin should steer clear of the second major support level at $129.41.

Looking at the Technical Indicators

First Major Support Level: $133.27

Pivot Level: $140.48

First Major Resistance Level: $144.34

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripple’s XRP

Ripple’s XRP fell by 2.13% on Monday. Reversing a 0.62% gain from Sunday, Ripple’s XRP ended the day at $0.26768.

A choppy start to the day saw Ripple’s XRP rally to an early morning high $0.28141 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2783 before sliding to a late morning low $0.27243.

Steering clear of the first major support level at $0.2684, Ripple’s XRP rallied to a mid-afternoon intraday high $0.28500.

Ripple’s XRP broke through the first major resistance level at $0.2783 and the second major resistance level at $0.2830.

A late sell-off, however, saw Ripple’s XRP slide to an intraday low $0.26667.

Ripple’s XRP fell through the first major support level at $0.2684 to end the day at $0.267 levels.

At the time of writing, Ripple’s XRP was down by 0.07% to $0.26748. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.2650 before rising to a high $0.2678.

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

For the day ahead

Ripple’s XRP will need to move through the $0.2731 pivot level to bring the first major resistance level at $0.2796 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2750 levels.

Barring an extended crypto rally, the first major resistance and Monday’s high $0.2850 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 $0.2914.

Failure to move through the $0.2731 pivot would bring the first major support level at $0.2612 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2548.

Looking at the Technical Indicators

First Major Support Level: $0.2612

Pivot Level: $0.2731

First Major Resistance Level: $0.2796

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