Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 6th, 2021

Ethereum

Ethereum fell by 1.27% on Friday. Following a 1.50% loss on Thursday, Ethereum ended the day at $4,479.47.

A mixed start to the day saw Ethereum rise to a mid-morning intraday high $4,574.00 before hitting reverse.

Falling short of the first major resistance level at $4,624, Ethereum slid to a late intraday low $4,446.01.

Steering clear of the first major support level at $4,437, Ethereum revisited $4,500 levels before easing back.

At the time of writing, Ethereum was down by 0.05% to $4,477.07. A bearish start to the day saw Ethereum fall from an early morning high $4,479.57 to a low $4,461.18.

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

For the day ahead

Ethereum would need to move through the $4,500 pivot to bring the first major resistance level at $4,554 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $4,574.00 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at Wednesday’s ATH $4,680.98 before any pullback. The second major resistance level sits at $4,628.

Failure to move through the $4,500 pivot would bring the first major support level at $4,426 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,200 levels. The second major support level at $4,372 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,426

Pivot Level: $4,500

First Major Resistance Level: $4,554

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 1.80% on Friday. Following a 2.10% decline on Thursday, Litecoin ended the day at $199.13.

A mixed start to the day saw Litecoin rise to an early morning intraday high $203.48 before hitting reverse.

Falling short of the first major resistance level at $208, Litecoin slid to a late intraday low $196.87.

Testing support at the first major support level at $197, Litecoin partially recovered to the end at day at $199 levels.

At the time of writing, Litecoin was up by 0.16% to $199.44. A mixed start to the day saw Litecoin fall to an early morning low $198.23 before rising to a high $199.47.

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

For the day ahead

Litecoin would need to move through the $200 pivot to bring the first major resistance level at $203 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $200 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $203.48 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.

Failure to move through the $200 pivot would bring the first major support level at $196 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$190. The second major support level at $193 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $196

Pivot Level: $200

First Major Resistance Level: $203

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 3.50% on Friday. Following a 0.79% fall on Thursday, Ripple’s XRP ended the day at $1.15991.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.20199 before hitting reverse.

Falling short of the first major resistance level at $1.2515, Ripple’s XRP slid to a mid-afternoon intraday low $1.13176.

Ripple’s XRP fell through the first major support level at $1.1584 before revisiting $1.16 levels.

Late in the day, the first major support level delivered support to prevent heavier losses.

At the time of writing, Ripple’s XRP was down by 0.11% to $1.15864. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.15501 before rising to a high $1.16007.

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 $1.1646 pivot to bring the first major resistance level at $1.1973 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.19 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $1.20199 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.25 levels before any pullback. The second major resistance level sits at $1.2348.

Failure to move through the $1.1646 pivot would bring the first major support level at $1.1271 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.10 levels. The second major support level sits at $1.0943.

Looking at the Technical Indicators

First Major Support Level: $1.1271

Pivot Level: $1.1646

First Major resistance Level: $1.1973

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

More From FXEMPIRE:


Be the first to comment

Leave a Reply

Your email address will not be published.


*