Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 8th, 2021

Bob Mason
5 min read
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Ethereum

Ethereum rose by 2.06% on Sunday. Following a 0.98% gain from Saturday, Ethereum ended the week up by 7.62% to $4,617.02.

A mixed start to the day saw Ethereum fall to an early morning intraday low $4,506.99 before making a move.

Steering clear of the first major support level at $4,390, Ethereum rallied to a late intraday high $4,639.80.

Ethereum broke through the first major resistance level at $4,595 to end the day at $4,600 levels.

At the time of writing, Ethereum was up by 0.09% to $4,621.11. A mixed start to the day saw Ethereum fall to an early morning low $4,616.50 before rising to a high $4,629.89.

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

For the day ahead

Ethereum would need to avoid the $4,588 pivot to bring the first major resistance level at $4,669 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $4,639.80.

Barring an extended crypto rally, the first major resistance level and ATH $4,670.98 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $4,800 levels before any pullback. The second major resistance level sits at $4,721.

A fall through the $4,588 pivot would bring the first major support level at $4,536 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,400 levels. The second major support level at $4,455 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,536

Pivot Level: $4,588

First Major Resistance Level: $4,669

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.24% on Sunday. Reversing a 0.65% loss from Saturday, Litecoin ended the week up by 5.32% to $202.23.

A mixed start to the day saw Litecoin fall to an early morning intraday low $197.12 before making a move.

Steering clear of the first major support level at $192, Litecoin rallied to a late intraday high $202.28.

In spite of coming up against the first major resistance level at $202, Litecoin ended the day at $202 levels.

At the time of writing, Litecoin was up by 0.50% to $203.24. A bullish start to the day saw Litecoin rise from an early morning low $202.18 to a high $203.31.

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

For the day ahead

Litecoin would need to avoid a fall through the $201 pivot to bring the first major resistance level at $204 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $202.28.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $210 before easing back. The second major resistance level sits at $206.

A fall through the $201 pivot would bring the first major support level at $199 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$190. The second major support level at $195 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $199

Pivot Level: $201

First Major Resistance Level: $204

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 5.84% on Sunday. Reversing a 0.56% fall from Saturday, Ripple’s XRP ended the week up by 9.53% to $1.21942.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.14677 before making a move.

Steering clear of the first major support level at $1.1157, Ripple’s XRP rallied to a late intraday high $1.23648.

Ripple’s XRP broke through the first major resistance level at $1.1831 and the second major resistance level at $1.2140.

Falling short of $1.25 levels, however, Ripple’s XRP briefly fell back through the second major resistance level before ending the day at $1.219 levels.

At the time of writing, Ripple’s XRP was up by 0.29% to $1.22292. A mixed start to the day saw Ripple’s XRP slip to an early morning low $1.22044 before rising to a high $1.23017.

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

For the day ahead

Ripple’s XRP would need to avoid a fall through the $1.2009 pivot to bring the first major resistance level at $1.2550 into play.

Support would be needed, however, for Ripple’s XRP to break out from Sunday’s high $1.23648.

Barring an extended crypto rally, the first major resistance level 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 $1.2906.

A fall through the $1.2009 pivot would bring the first major support level at $1.1653 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.10 levels. The second major support level at $1.1112 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.1653

Pivot Level: $1.2009

First Major resistance Level: $1.2550

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

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