Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 25th, 2020

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For the day ahead

Litecoin would need to avoid a fall through the $107.39 pivot to support a run at the first major resistance level at $116.11.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $112.67.

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

In the event of an extended breakout, Litecoin could test resistance at $120 before any pullback. The second major resistance level sits at $121.01.

Failure to avoid a fall through the $107.39 pivot level would bring the first major support level at $102.49 and 23.6% FIB of $101 into play.

Barring an extended sell-off on the day, however, Litecoin should steer of the second major support level at $93.77.

Looking at the Technical Indicators

First Major Support Level: $102.49

Pivot Level: $107.39

First Major Resistance Level: $116.11

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP surged by 29.65% on Thursday. Partially reversing Wednesday’s 41.71% slump, Ripple’s XRP ended the day at $0.33782.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.3070 before hitting reverse.

Falling well short of the first major resistance level at $0.4054, Ripple’s XRP fell to a mid-morning intraday low $0.24008.

Steering clear of the first major support level at $0.1573, Ripple’s XRP rallied to a late intraday high $0.3800.

While falling short of the first major resistance level at $0.4054, Ripple’s XRP broke through the 23.6% FIB of $0.3386.

At the day end, however, Ripple’s XRP eased back to end the day at $0.33 levels. The 23.6% FIB of $0.3386 provided support late on.

At the time of writing, Ripple’s XRP was down by 3.21% to $0.32696. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.34728 before falling to a low $0.32633.

While leaving the major support and resistance levels untested, Ripple’s XRP broke through the 23.6% FIB of $0.3386 before hitting reverse.

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