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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – February 13th, 2021

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Bob Mason
·5 min read
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Ethereum

Ethereum rose by 3.23% on Friday. Following on from a 2.57% gain on Thursday, Ethereum ended the day at $1,845.0.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,741.29 before making a move.

Steering clear of the first major support level at $1,721, Ethereum rallied to a late intraday high and a new swing hi $1,868.9.

Ethereum broke through the first major resistance level at $1,836 and Wednesday’s swing hi $1,839.0 before falling back to sub-$1,850 levels.

At the time of writing, Ethereum was down by 0.03% to $1,844.47. A mixed start to the day saw Ethereum rise to an early morning high and a new swing hi $1,877.88 before falling to a low $1,827.03.

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

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,818 to support a run at the first major resistance level at $1,896.

Support from the broader market would be needed, however, for Ethereum to break out from this morning’s new swing hi $1,868.9.

Barring an extended crypto rally, the first major resistance level and resistance at $1,900 would likely cap any upside.

In the event of an extended crypto rally, Ethereum could test resistance at $2,000 before any pullback. The second major resistance level sits at $1,946.

Failure to avoid a fall through the $1,818 pivot would bring the first major support level at $1,768 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,700 levels. The second major support level sits at $1,691.

Looking at the Technical Indicators

First Major Support Level: $1,768

Pivot Level: $1,818

First Major Resistance Level: 1,896

23.6% FIB Retracement Level: $1,447

38.2% FIB Retracement Level: $1,186

62% FIB Retracement Level: $764

Litecoin

Litecoin rallied by 7.34% on Friday. Following on from a 2.84% gain on Thursday, Litecoin ended the day at $197.20.

It was also a bearish start to the day. Litecoin fell to an early morning intraday low $176.89 before making a move.

Steering clear of the first major support level at $175.18, Litecoin rallied to a late intraday high and a new swing hi $199.99.

Litecoin broke through the first major resistance level at $193.04 and Wednesday’s swing hi $195.15 to end the day at $197 levels.

At the time of writing, Litecoin was up by 3.68% to $204.46. A mixed start to the day saw Litecoin fall to an early morning low $197.18 before striking a new swing hi $209.50.

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

For the day ahead

Litecoin would need to avoid a fall through the $191.36 pivot level to support another run at the first major resistance level at $205.83.

Support from the broader market would be needed, however, for Litecoin to avoid a fall back to sub-$200 levels.

Barring an extended crypto rally, the first major resistance level and today’s new swing hi $209.50 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $214.46.

Failure to avoid a fall through the $191.36 pivot level would bring the first major support level at $182.73 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$180 levels. The second major support level sits at $168.26.

Looking at the Technical Indicators

First Major Support Level: $182.73

Pivot Level: $191.36

First Major Resistance Level: $205.83

23.6% FIB Retracement Level: $159

38.2% FIB Retracement Level: $133

62% FIB Retracement Level: $92

Ripple’s XRP

Ripple’s XRP jumped by 15.47% on Friday. Following on from a 4.80% gain on Thursday, Ripple’s XRP ended the day at $0.61031.

Tracking the broader market, Ripple’s XRP slipped to an early morning intraday low $0.5193 before making a move.

Steering clear of the first major support level at $0.5069, Ripple’s XRP rallied to a late intraday high $0.6200.

Ripple’s XRP broke through the day’s major resistance levels and the 62% FIB of $0.5522 to end the day at $0.61 levels.

At the time of writing, Ripple’s XRP was up by 2.47% to $0.62541. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.60662 before rising to a high $0.64320.

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 $0.5832 pivot level to bring the first major resistance level at $0.6471 back into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.64 levels.

Barring another extended crypto rally, the first major resistance level at $0.6471 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.6839.

Failure to avoid a fall through the $0.5832 pivot would bring 62% FIB of $0.5522 and the first major support level at $0.5464 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub $0.60 levels. The second major support level sits at $0.4825.

Avoiding sub-$0.60 levels would affirm a near-term bullish trend following Friday’s breakout from the 62% FIB.

Looking at the Technical Indicators

First Major Support Level: $0.5464

Pivot Level: $0.5832

First Major Resistance Level: $0.6471

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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