Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 13th, 2021
Ethereum
Ethereum fell by 1.14% on Friday. Partially reversing a 1.94% gain from Thursday, Ethereum ended the day at $4,667.34.
A mixed start to the day saw Ethereum rise to an early morning intraday high $4,809.27 before hitting reverse.
Coming within range of the first major resistance level at $4,811, Ethereum slid to a late afternoon intraday low $4,508.42.
Ethereum fell through the first major support level at $4,606 before a partial recovery to end the day at $4,660 levels.
At the time of writing, Ethereum was up by 0.70% to $4,700.17. A bullish start to the day saw Ethereum rise from an early morning low $4,667.19 to a high $4,708.60.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $4,662 pivot to bring the first major resistance level at $4,815 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,800 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s ATH $4,867.81 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $5,000 levels before any pullback. The second major resistance level sits at $4,963.
A fall through the $4,662 pivot would bring the first major support level at $4,514 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,400 levels. The second major support level sits at $4,361.
Looking at the Technical Indicators
First Major Support Level: $4,514
Pivot Level: $4,662
First Major Resistance Level: $4,815
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin slid by 4.22% on Friday. Reversing a 0.82% gain from Thursday, Litecoin ended the day at $251.23.
Tracking the broader market, Litecoin rose to an early morning intraday high $282.92 before hitting reverse.
Litecoin broke through the first major resistance level at $274 before sliding to a late afternoon intraday low $243.86.
The reversal saw Litecoin fall through the first major support level at $251 before briefly revisiting $258 levels.
At the time of writing, Litecoin was up by 0.92% to $253.54. A bullish start to the day saw Litecoin rise from an early morning low $251.09 to a high $254.14.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $259 pivot to bring the first major resistance level at $275 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $270 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $282.92 would likely cap the upside.
In the event of another breakout, Litecoin could retest resistance at $300 before easing back. The second major resistance level sits at $298.
Failure to move through the $259 pivot would bring the first major support level at $236 into play.
Barring another extended sell-off, Litecoin should steer clear of the 38.2% FIB of $223. The second major support level sits at $220.
Looking at the Technical Indicators
First Major Support Level: $236
Pivot Level: $259
First Major Resistance Level: $275
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 2.01% on Friday. Reversing a 2.26% gain from Thursday, Ripple’s XRP ended the day at $1.19052.
A mixed start saw Ripple’s XRP rise to an early morning intraday high $1.23241 before hitting reverse.
Falling short of the first major resistance level at $1.2534, Ripple’s XRP slid to a late afternoon intraday low $1.15534.
Ripple’s XRP fell through the first major support level at $1.1779 before briefly revisiting $1.20 levels.
At the time of writing, Ripple’s XRP was up by 0.18% to $1.19267. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.18887 to a high $1.19407.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to move back through the $1.1928 pivot to bring the first major resistance level at $1.2302 into play.
Support would be needed, however, for Ripple’s XRP to break out from $1.20 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $1.23241 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.30 levels before any pullback. The second major resistance level sits at $1.2698.
Failure to move back through the $1.1928 pivot would bring the first major support level at $1.1531 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.10 levels. The second major support level at $1.1157 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.1531
Pivot Level: $1.1928
First Major resistance Level: $1.2302
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
This article was originally posted on FX Empire
