Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 11th, 2020

For the day ahead

Litecoin would need to move through the $75.15 pivot to support a run at the first major resistance level at $77.20.

Support from the broader market would be needed, however, for Litecoin to break back through to $77 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $77.64 would likely cap any upside.

In the event of an extended breakout, Litecoin could test the second major resistance level at $79.69 and resistance at $80.

Failure to move through the $75.15 pivot level would bring the first major support level at $72.66 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$70 levels. The second major support level at $70.61 and the 38.2% FIB of $71 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $72.66

Pivot Level: $75.15

First Major Resistance Level: $77.20

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 1.92% on Thursday. Partially reversing a 4.42% rally from Wednesday, Ripple’s XRP ended the day at $0.57194.

Tracking the broader market, Ripple’s XRP fell to a mid-afternoon intraday low $0.55275 before finding support.

Steering clear of the 38.2% FIB of $0.5285 and the first major support level at $0.5222, Ripple’s XRP bounced back to a late intraday high $0.58874.

While breaking back through the 38.2% FIB, Ripple’s XRP fell short of the first major resistance level at $0.6247.

A late pullback, however, saw Ripple’s XRP fall to sub-$0.58 levels and into the red for the day.

At the time of writing, Ripple’s XRP was down by 1.15% to $0.56538. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.57470 before falling to a low $0.56312.

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