Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 26th, 2020

Fibo Quantum

For the day ahead

Litecoin would need to avoid a fall through the $121.48 pivot to support a run at the first major resistance level at $134.73.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $129.00.

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

In the event of another extended breakout, Litecoin could test resistance at $155 before any pullback. The second major resistance level sits at $141.78.

Failure to avoid a fall through the $121.48 pivot level would bring the first major support level at $114.43 into play.

Barring an extended sell-off on the day, however, Litecoin should steer of sub-$100 levels. The 23.6% FIB of $104 and the second major support level at $101.18 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $114.43

Pivot Level: $121.48

First Major Resistance Level: $134.73

23.6% FIB Retracement Level: $104

38.2% FIB Retracement Level: $89

62% FIB Retracement Level: $65

Ripple’s XRP

Ripple’s XRP fell by 5.94% on Friday. Partially reversing a 29.65% surge from Thursday, Ripple’s XRP ended the day at $0.31855.

A mixed start to the day saw Ripple’s XRP rise to a late morning high $0.38632 before hitting reverse.

Falling short of the first major resistance level at $0.3985, Ripple’s XRP fell to a late afternoon intraday low $0.27802.

While steering clear of the first major support level at $0.2586, Ripple’s XRP fell through the 23.6% FIB of $0.3386.

Finding late support, Ripple’s XRP briefly revisited $0.34 levels before falling back into the deep red.

At the time of writing, Ripple’s XRP was down by 1.76% to $0.31293. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.32099 before falling to a low $0.30875.

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

Wood Profits Banner>