2021-12-10 00:22:28

Ethereum (ETH), Litecoin (LTC), and Ripple’s XRP – U.S Inflation to Test Investor Resilience

This is the technical analysis for Ethereum (ETH), Litecoin (LTC), and Ripple’s XRP. We will be looking at previous day price action and today’s support, resistance, and pivot levels and, when in play, the Fibonacci’s.

Ethereum (ETH)

Ethereum (ETH) slid by 7.54% on Thursday. Reversing a 3.02% gain from Wednesday, Ethereum ended the day at $4,106.

A mixed start to the day saw Ethereum rise to an early morning intraday high $4,491 before hitting reverse. Falling short of the first major resistance level at $4,522, Ethereum slid to a late intraday low $4,076. The extended sell-off saw Ethereum fall through the first major support level at $4,293 and the second major support level at $4,145.

Steering clear of sub-$4,000 however, Ethereum briefly broke through the second major support level before ending the day at sub-$4,110 levels.

At the time of writing, Ethereum was up by 0.96% to $4,145. A mixed start to the day saw Ethereum fall to an early morning low $4,102 before rising to a high $4,146.

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

For the day ahead

Ethereum would need to move through the $4,224 pivot to bring the first major resistance level at $4,373 into play. Support from the broader market would be needed, however, for Ethereum to break out from $4,350 levels. Barring an extended rally, the first major resistance level and resistance at $4,400 should limit the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at the $4,700 levels before any pullback. The second major resistance level sits at $4,639.

Failure to move through the $4,224 pivot would bring the first major support level at $3,958 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,850 levels. The second major support level sits at $3,810.

Looking at the Technical Indicators

First Major Support Level: $3,958

Pivot Level: $4,224

First Major Resistance Level: $4,373

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin (LTC)

Litecoin (LTC) slid by 8.38% on Thursday. Reversing a 1.93% rise from Wednesday, Litecoin ended the day at $151.40.

A mixed morning saw Litecoin rise to an early morning intraday high $167.26 before hitting reverse. Falling short of the first major resistance level at $172, Litecoin slid to a late intraday low $151.32. The extended sell-off saw Litecoin fall through the first major support level at $157 to end the day at $151 levels.

At the time of writing, Litecoin was up by 1.19% to $153.20. A mixed start to the day saw Litecoin fall to an early morning low $151.01 before rising to a high $153.74.

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

For the day ahead

Litecoin would need to move through the $157 pivot to bring the first major resistance level at $162 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $167.26 would likely cap the upside. In the event of an extended rally, Litecoin could test resistance at the second major resistance level at $173 before any pullback.

Failure to move through the $157 pivot would bring the first major support level at $146 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$145 levels. The second major support level sits at $141.

Looking at the Technical Indicators

First Major Support Level: $146

Pivot Level: $157

First Major Resistance Level: $162

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slipped by 0.42% on Thursday. Following a 5.63% rally on Wednesday, Ripple’s XRP ended the day at $0.85918.

A choppy morning saw Ripple’s XRP fall to a late morning intraday low $0.83271 before making a move. Steering clear of the first major support level at $0.8161, Ripple’s XRP rallied to a late morning intraday high $0.93509. Ripple’s XRP broke through the 23.6% FIB of $0.8533 and the first major resistance level at $0.8969.

Coming up against the second major resistance level at $0.9314, however, Ripple’s XRP fell back through the first major resistance level to end the day in the red.

At the time of writing, Ripple’s XRP was up by 1.05% to $0.86822. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.85687 before rising to a high $0.87123.

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

For the day ahead

Ripple’s XRP would need to move through the $0.8757 pivot to bring the first major resistance level at $0.9186 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $0.90 levels. Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.93509 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.00 levels before any pullback. The second major resistance level sits at $0.9780.

Failure to move through the $0.8757 pivot would bring 23.6% FIB of $0.8533 and the first major support level at $0.8162 into play. Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$0.80 levels. The second major support level sits at $0.7733.

Looking at the Technical Indicators

First Major Support Level: $0.8162

Pivot Level: $0.8757

First Major resistance Level: $0.9186

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

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