Ethereum
Ethereum rallied 11.07% on Friday. Partially reversing Thursday’s 19.35% drop, Ethereum ended the day at $ 1,233.60.
A bearish start to the day saw Ethereum slide to an intraday low of $ 1,039.62 early in the morning before moving into action.
By avoiding the first major support level at $ 998, Ethereum hit an intraday high of $ 1275.99.
While below the first major resistance level at $ 1,307, Ethereum broke through the FIB 23.6% from $ 1,119.
A bearish end of the day saw Ethereum relax to end the day at levels below $ 1,240.
At the time of writing, Ethereum was down 0.99% to $ 1,221.43. A bearish start to the day saw Ethereum fall from an early morning high of $ 1,233.89 to a low of $ 1,206.10.
Ethereum left major support and resistance levels untested early on.
For the day ahead
Ethereum should avoid a fall from the pivot level at $ 1183 to support a run to the first major resistance level at $ 1327.
However, broader market support would be needed for Ethereum to return to levels of $ 1300.
Barring a prolonged crypto rally, the first major resistance level would likely cap any rise.
In the event of another extended crypto rally, Ethereum could test resistance at $ 1,400 before any pullbacks. The second major resistance level is located at $ 1419.
Failure to avoid a fall through the $ 1183 pivot would put the 23.6% FIB at $ 1119 on the line and the first major support level at $ 1090.
Unless another extended sell-off, however, Ethereum should avoid levels below $ 1,000. The second major support level is at $ 947.
A look at technical indicators
First major level of support: $ 1,090
Pivot level: $ 1,183
First major resistance level: $ 1,327
23.6% FIB retracement level: $ 1119
38.2% FIB retracement level: $ 921
62% FIB retracement level: $ 600
Litecoin
Litecoin rose 6.26% on Friday. Partially reversing Thursday’s 13.40% drop, Litecoin ended the day at $ 137.76.
A bearish start to the day saw Litecoin slide to an intraday low of $ 122.25 early in the morning before moving into action.
The story continues
The sale saw Litecoin drop through the FIB 38.2% to $ 125.
By avoiding the first major support level at $ 119.98, Litecoin hit an intraday high of $ 142.00.
While falling below the first major resistance level at $ 144.93, Litecoin broke through the FIB by 38.2%.
A bearish end of the day saw Litecoin fall back to end the day at levels below $ 140.
At the time of writing this article, Litecoin was down 1.05% to $ 136.31. A bearish start to the day saw Litecoin tumble from an early morning high of $ 137.75 to $ 135.00.
Litecoin left major support and resistance levels untested at first.
For the day ahead
Litecoin should avoid a fall from the pivot level of $ 134.00 to support a run to the first major resistance level at $ 145.76 and FIB 23.6% from $ 148.
Support from the wider market would be needed for Litecoin to break out of Friday’s $ 142.00 high, however.
Barring a prolonged crypto rally, the first major resistance level and 23.6% FIB would likely cap any rise.
In case of a prolonged breakout, Litecoin could test resistance at $ 150. The second major resistance level is located at $ 153.75.
Failure to avoid a fall from the $ 134.00 pivot level would bring the first major support level to $ 126.01 and the 38.2% FIB of $ 125 in play.
Unless another extended sell-off, Litecoin is expected to avoid the second major support level at $ 114.25.
A look at technical indicators
First major support level: $ 126.01
Pivot level: $ 134.00
First major resistance level: $ 145.76
23.6% FIB retracement level: $ 148
38.2% FIB …
News Highlights
- According to the source Ripple’s Ethereum, Litecoin, and XRP – Daily Tech Analysis – January 23, 2021
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