Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 20th, 2021
Ethereum
Ethereum rallied by 7.53% on Friday. Reversing a 6.80% slide from Thursday, Ethereum ended the day at $4,299.55.
A mixed start to the day saw Ethereum fall to an early morning intraday low $3,975.24 before making a move.
Steering clear of the first major support level at $3,857, Ethereum rallied to a late intraday high $4,314.82 before easing back.
Ethereum broke through the first major resistance level at $4,243 to wrap up the day at $4,290 levels.
At the time of writing, Ethereum was flat at $4,299.35. A mixed start to the day saw Ethereum rise to an early morning high $4,330.00 before falling to a low $4,287.84.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $4,197 pivot to bring the first major resistance level at $4,418 into play.
Support from the broader market would be needed, however, for Ethereum to break out from $4,350 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,500 levels before any pullback. The second major resistance level sits at $4,536.
A fall through the $4,197 pivot would bring the first major support level at $4,078 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $3,857.
Looking at the Technical Indicators
First Major Support Level: $4,078
Pivot Level: $4,197
First Major Resistance Level: $4,418
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin rallied by 6.84% on Friday. Partially reversing an 11.06% slide from Thursday, Litecoin ended the day at $218.12.
A mixed start to the day saw Litecoin fall to an early morning intraday low $199.74 before making a move.
Steering clear of the first major support level at $192, Litecoin rallied to a late afternoon intraday high 221.65.
Falling short of the 38.2% FIB of $223 and the first major resistance level at $224, however, Litecoin eased back to end the day at sub-$220.
At the time of writing, Litecoin was up by 0.04% to $218.20. A mixed start to the day saw Litecoin fall to an early morning low $217.38 before rising to a high $220.79.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $213 pivot to bring the 38.2% FIB of $223 and the first major resistance level at $227 into play.
Support from the broader market would be needed, however, for Litecoin to break out from the 38.2% FIB.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of an extended rally, Litecoin could test resistance at $240. The second major resistance level sits at $235.
A fall through the $213 pivot would bring the first major support level at $205 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$195 levels. The second major support level sits at $191.
Looking at the Technical Indicators
First Major Support Level: $205
Pivot Level: $213
First Major Resistance Level: $227
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP rose by 4.48% on Friday. Partially reversing a 5.11% loss from Thursday, Ripple’s XRP ended the day at $1.09065
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.01907 before making a move.
Steering clear of the first major support level at $0.9847, Ripple’s XRP rallied to an early afternoon intraday high $1.1037.
While falling short of the first major resistance level at $1.1287, Ripple’s XRP broke back through the 38.2% FIB of $1.0659.
A mixed end to the day saw Ripple’s XRP ease back to end the day at sub-$1.10 levels, however.
At the time of writing, Ripple’s XRP was down by 0.33% to $1.08710. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.09900 before falling to a low $1.08710.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to avoid the $1.0711 pivot to bring the first major resistance level at $1.1232 into play.
Support would be needed, however, for Ripple’s XRP to break out from $1.10 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at $1.15 levels before any pullback. The second major resistance level sits at $1.1558.
A fall through the $1.0711 pivot would bring the 38.2% FIB of $1.0659 and first major support level at $1.0386 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.9865.
Looking at the Technical Indicators
First Major Support Level: $1.0386
Pivot Level: $1.0711
First Major resistance Level: $1.1232
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
