Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 12th, 2021
Ethereum
Ethereum rose by 1.94% on Thursday. Partially reversing a 2.10% loss from Wednesday, Ethereum ended the day at $4,721.87.
A mixed start to the day saw Ethereum fall to an early morning intraday low $4,578.05 before making a move.
Steering clear of the first major support level at $4,439, Ethereum rose to a late afternoon intraday high $4,783.05.
Falling short of the first major resistance level at $4,847, Ethereum fell back to end the day at $4,720 levels.
At the time of writing, Ethereum was down by 0.25% to $4,710.07. A bearish start to the day saw Ethereum fall from an early morning high $4,721.69 to a low $4,710.01.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $4,694 pivot to bring the first major resistance level at $4,811 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 $4,899.
A fall through the $4,694 pivot would bring the first major support level at $4,606 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,500 levels. The second major support level sits at $4,489.
Looking at the Technical Indicators
First Major Support Level: $4,606
Pivot Level: $4,694
First Major Resistance Level: $4,811
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 0.82% on Thursday. Reversing a 0.72% fall from Wednesday, Litecoin ended the day at $262.30.
Tracking the broader market, Litecoin fell to an early morning intraday low $250.61 before making a move.
Steering clear of the first major support level at $241, Litecoin rose to a late morning intraday high $274.27.
Falling well short of the first major resistance level at $291, Litecoin fell back to sub-$260 levels before finding support.
At the time of writing, Litecoin was down by 0.13% to $261.95. A mixed start to the day saw Litecoin rise to an early morning high $262.95 before falling to a low $261.95.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $262 pivot to bring the first major resistance level at $274 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 Thursday’s high $274.27 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 $286.
Failure to move back through the $262 pivot would bring the first major support level at $251 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$245 levels. The second major support level sits at $239.
Looking at the Technical Indicators
First Major Support Level: $251
Pivot Level: $262
First Major Resistance Level: $274
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 2.26% on Thursday. Partially reversing a 5.07% slide from Wednesday, Ripple’s XRP ended the day at $1.21563.
A mixed start saw Ripple’s XRP fall to an early morning intraday low $1.17794 before making a move.
Steering clear of the first major support level at $1.0932, Ripple’s XRP rose to a late morning intraday high $1.25344.
Falling well short of the first major resistance level at $1.3203, Ripple’s XRP fell back to sub-$1.20 levels before finding support.
At the time of writing, Ripple’s XRP was down by 0.34% to $1.21155. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.21560 before falling to a low $1.21155.
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 $1.2157 pivot to bring the first major resistance level at $1.2534 into play.
Support would be needed, however, for Ripple’s XRP to break. Back through to $1.25 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.25344 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 $1.2912.
Failure to move back through the $1.2157 pivot would bring the first major support level at $1.1779 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.15 levels. The second major support level sits at $1.1402.
Looking at the Technical Indicators
First Major Support Level: $1.1779
Pivot Level: $1.2157
First Major resistance Level: $1.2534
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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