Litecoin price – Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 5th, 2021

Ethereum

Ethereum fell by 4.26% on Thursday. Partially reversing a 10.23% rally from Wednesday, Ethereum ended the day at $1,597.55.

It was a bullish start to the day. Ethereum rose to an early morning intraday high and a new swing hi $1,699.00 before hitting reverse.

Falling short of the first major resistance level at $1,724, Ethereum slid to a mid-afternoon intraday low $1,556.0.

Finding support at the first major support level at $1,561, Ethereum briefly revisited $1,600 levels before easing back.

At the time of writing, Ethereum was up by 0.01% to $1,597.75. A mixed start to the day saw Ethereum rise to an early morning high $1,610.84 before falling to a low $1,592.63.

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 $1,618 to support a run at the first major resistance level at $1,679.

Support from the broader market would be needed, however, for Ethereum to break out from $1,650 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1,699.00 would likely cap any upside.

In the event of an extended crypto rally, Ethereum could test resistance at $1,800 before any pullback. The second major resistance level sits at $1,761.

Failure to move through the $1,618 pivot would bring the first major support level at $1,536 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,500 levels. The second major support level sits at $1,475.

Looking at the Technical Indicators

First Major Support Level: $1,536

Pivot Level: $1,618

First Major Resistance Level: $1,679

23.6% FIB Retracement Level: $1,317

38.2% FIB Retracement Level: $1,081

62% FIB Retracement Level: $699

Litecoin

Litecoin slid by 7.06% on Thursday. Partially reversing Wednesday’s 9.91% rally, Litecoin ended the day at $145.27.

It was a bullish day. Litecoin rose to an early morning intraday high $158.99 before hitting reverse.

Story continues

Falling short of the first major resistance level at $161.33, Litecoin slid to a mid-afternoon intraday low $141.16.

The sell-off saw Litecoin fall through the 23.6% FIB of $148 and the first major support level at $146.59.

Steering clear of sub-$140, Litecoin revisited $148 levels before easing back. The 23.6% FIB of $148 pinned Litecoin back late in the day.

At the time of writing, Litecoin was down by 0.70% to $144.25. A mixed start to the day saw Litecoin rise to an early morning high $145.97 before falling to a low $143.63.

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

For the day ahead

Litecoin would need to move through the 23.6% FIB of $148 and the $148.47 pivot level to support a run at the first major resistance level at $155.79.

Support from the broader market would be needed, however, for Litecoin to break through to $155 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $158.99 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $170 before any pullback. The second major resistance level sits at $166.30.

Failure to move through the 23.6% FIB and the $148.47 pivot level would bring the first major support level at $137.96 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$135 levels. The second major support level sits at $130.64.

Looking at the Technical Indicators

First Major Support Level: $137.96

Pivot Level: $148.47

First Major Resistance Level: $155.79

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripple’s XRP

Ripple’s XRP jumped by 12.12% on Thursday. Following on from a 6.58% rally on Wednesday, Ripple’s XRP ended the day at $0.44619.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.38024 before making a move.

Steering clear of the first major support level at $0.3746, Ripple’s XRP rallied to a late intraday high $0.48151.

Ripple’s XRP broke through the first major resistance level at $0.4202 and the second major resistance level at $0.4424.

More significantly, Ripple’s XRP broke back through the 38.2% FIB of $0.4070.

Falling short of the third major resistance level at $0.4880, Ripple’s XRP slid back to end the day at sub-$0.45 levels.

The second major resistance level at $0.4424 provided support late in the day.

At the time of writing, Ripple’s XRP was up by 0.57% to $0.44873. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.44611 to a high $0.45697.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.4360 pivot level to bring the first major resistance level at $0.4917 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.48151.

Barring another extended crypto rally, the first major resistance level and resistance at $0.50 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could the second major resistance level at $0.5373 and resistance at the 62% FIB of $0.5522.

Failure to avoid a fall through the $0.4369 pivot would bring the 38.2% FIB of $0.4070 and the first major support level at $0.3905 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.35 levels. The second major support level sits at $0.3347.

Looking at the Technical Indicators

First Major Support Level: $0.3905

Pivot Level: $0.4360

First Major Resistance Level: $0.4917

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

This article was originally posted on FX Empire

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