Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 24th, 2021
Ethereum
Ethereum rallied by 6.17% on Tuesday. Reversing a 4.08% loss from Monday, Ethereum ended the day at $4,341.62.
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A choppy start to the day saw Ethereum fall to a late morning intraday low $4,062.28 before making a move.
Steering clear of the first major support level at $3,968, Ethereum rallied to a late intraday high $4,389.95.
Ethereum broke through the first major resistance level at $4,267 to wrap up the day at $4,340 levels.
At the time of writing, Ethereum was up by 0.01% to $4,342.22. Ethereum visited lows and highs of $4,340.92 and $4,343.14 at the start of the day.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $4,265 pivot to bring the first major resistance level at $4,467 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,400 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 $4,700 levels before any pullback. The second major resistance level sits at $4,592.
A fall through the $4,265 pivot would bring the first major support level at $4,139 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level sits at $3,937.
Looking at the Technical Indicators
First Major Support Level: $4,139
Pivot Level: $4,265
First Major Resistance Level: $4,467
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin rose by 3.44% on Tuesday. Partially reversing a 5.54% slide from Monday, Litecoin ended the day at $216.32.
Tracking the broader market, Litecoin fell to a late morning intraday low $205.49 before making a move.
Steering clear of the first major support level at $202, Litecoin rallied to a late intraday high $218.89.
Coming up against the first major resistance level at $219, Litecoin eased back to end the day at $216 levels.
At the time of writing, Litecoin was up by 0.05% to $216.43. A range-bound start to the day saw Litecoin rise from an early morning low $216.28 to a high $216.43.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $214 pivot to bring the first major resistance level at $222 and the 38.2% FIB of $223 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $218 levels.
Barring an extended crypto rally, the 38.2% FIB would likely cap the upside.
In the event of an extended rally, Litecoin could test resistance at $230. The second major resistance level sits at $227.
A fall through the $214 pivot would bring the first major support level at $208 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level at $200 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $208
Pivot Level: $214
First Major Resistance Level: $222
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 2.84% on Tuesday. Reversing a 2.12% loss from Monday, Ripple’s XRP ended the day at $1.06662.
A choppy start to the day saw Ripple’s XRP slide to a late morning intraday low $1.02100 before making a move.
Finding support at the first major support level at $1.0209, Ripple’s XRP struck a late intraday high $1.07209.
Ripple’s XRP broke through the first major resistance level at $1.0628 and the 38.2% FIB of $1.0659 before easing back to end the day at $1.0666 levels.
At the time of writing, Ripple’s XRP was up by 0.46% to $1.07150. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.06798 to a high $1.07413.
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 38.2% FIB of $1.0659 and the $1.0532 pivot to bring first major resistance level at $1.0855 into play.
Support would be needed, however, for Ripple’s XRP to break out from this morning’s high $1.07413.
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 the second major resistance level at $1.1043.
A fall through the 38.2% FIB of $1.0659 and the $1.0532 pivot would bring first major support level at $1.0344 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level at $1.0021 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.0344
Pivot Level: $1.0532
First Major resistance Level: $1.0855
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096