Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 11th, 2021
Ethereum
Ethereum fell by 2.10% on Wednesday. Following a 1.67% decline on Tuesday, Ethereum ended the day at $4,632.22.
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After a mixed start to the day, Ethereum rallied to an early afternoon new ATH $4,867.81 before hitting reverse.
Ethereum broke through the first major resistance level at $4,811 before sliding to a late intraday low $4,460.00.
The extended sell-off saw Ethereum fall through the day’s major support levels.
Late in the day, Ethereum broke back through the third major support level at $4,506, however, to end the day at $4,600 levels.
The second major support level at $4,634 pegged Ethereum back, however.
At the time of writing, Ethereum was down by 0.46% to $4,611.07. A bearish start to the day saw Ethereum fall from an early morning high $4,632.23 to a low $4,605.50.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $4,653 pivot to bring the first major resistance level at $4,847 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 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 $5,061.
Failure to move through the $4,653 pivot would bring the first major support level at $4,439 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,200 levels. The second major support level at $4,246 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $4,439
Pivot Level: $4,653
First Major Resistance Level: $4,847
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 0.72% on Wednesday. Partially reversing a 14.42% surge from Tuesday, Litecoin ended the day at $260.18.
Tracking the broader market, Litecoin rallied to a mid-afternoon intraday high $302.08 before hitting reverse.
Litecoin broke through the first major resistance level at $282.
Coming up against the second major resistance level at $303, Litecoin slid to a late intraday low $252.30.
Steering clear of the first major support level at $234, Litecoin ended the day at $260 levels.
At the time of writing, Litecoin was down by 0.90% to $257.84. A bearish start to the day saw Litecoin fall from an early morning high $260.23 to a low $257.24.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $272 pivot to bring the first major resistance level at $291 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $280 levels.
Barring an extended crypto rally, the first major resistance level 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 $321.
Failure to move through the $272 pivot would bring the first major support level at $241 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 $222.
Looking at the Technical Indicators
First Major Support Level: $241
Pivot Level: $272
First Major Resistance Level: $291
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP slid by 5.07% on Wednesday. Following a 2.25% loss on Tuesday, Ripple’s XRP ended the day at $1.9282.
After a mixed morning, Ripple’s XRP rallied to a late afternoon intraday high $1.34813 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $1.2877 and the second major resistance level at $1.3190.
Coming up against resistance at $1.35, however, Ripple’s XRP slid to a late intraday low $1.12102.
The extended sell-off saw Ripple’s XRP slide through the day’s major support levels.
A late partial recovery, however, saw Ripple’s XRP move back through the third major support level at $1.1322 to end the day at $1.19 levels.
The second major resistance level at $1.1945 pegged Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was down by 0.94% to $1.18155. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.18900 to a low $1.18155.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need to move through the $1.2207 pivot to bring the first major resistance level at $1.3203 into play.
Support would be needed, however, for Ripple’s XRP to break back through to $1.30 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $1.34813 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at the 62% FIB of $1.4096 before any pullback. The second major resistance level sits at $1.4478.
Failure to move through the $1.2207 pivot would bring the first major support level at $1.0932 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid the 38.2% FIB of $1.0659. The second major support level sits at $0.9935.
Looking at the Technical Indicators
First Major Support Level: $1.0932
Pivot Level: $1.2207
First Major resistance Level: $1.3203
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096