Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 17th, 2020

Ethereum

Ethereum rose by 2.73% on Monday. Reversing a 2.74% fall from Sunday, Ethereum ended the day at $460.85.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $445.91 before making a move.

Steering clear of the first major support level at $437.82, Ethereum rallied to a late intraday high $466.21.

Ethereum broke through the first major resistance level at $461.29 before a fall back to sub-$460 levels.

A bullish end to the day, however, saw Ethereum break back through the first major resistance level to end the day at $460 levels.

At the time of writing, Ethereum was up by 0.46% to $462.96. A mixed start to the day saw Ethereum fall to an early morning low $460.05 before striking a high $463.13.

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

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $457.66 to support a run at the first major resistance level at $469.40.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $466.21.

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

In the event of a breakout, Ethereum could test resistance at $480 before any pullback. The second major resistance level sits at $477.96.

Failure to avoid a fall through the $457.66 pivot would bring the first major support level at $449.10 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$440 levels. The second major support level sits at $437.36.

Looking at the Technical Indicators

First Major Support Level: $449.10

Pivot Level: $457.66

First Major Resistance Level: $469.40

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin surged by 18.45% on Monday. Reversing a 2.38% loss from Sunday, Litecoin ended the day at $73.83.

It was a particularly bullish day. Litecoin rallied from an early morning intraday low $62.16 to a final hour intraday high $74.65.

The day-long rally saw Litecoin broke through the day’s major resistance levels at the 38.2% FIB of $71.00.

At the time of writing, Litecoin was up by 1.42% to $74.88. A mixed start to the day saw Litecoin fall to an early morning low $73.35 before rising to a high $74.88.

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

For the day ahead

Litecoin would need to avoid a fall through the 38.2% FIB and the $70.21 pivot to support a run at the first major resistance level at $78.27.

Support from the broader market would be needed, however, for Litecoin to break out from $75 levels.

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

In the event of another extended breakout, Litecoin would likely test resistance at $85 before any pullback. The second major resistance level sits at $82.70.

Failure to avoid a fall through the 38.2% FIB and the $70.21 pivot level would bring the first major support level at $65.78 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$60. The second major support level sits at $57.72.

Looking at the Technical Indicators

First Major Support Level: $65.78

Pivot Level: $70.21

First Major Resistance Level: $78.27

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rallied by 7.03% on Monday. Following on from a 0.38% gain on Sunday, Ripple’s XRP ended the day at $0.28817.

It was a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.26767 before making a move.

Steering clear of the first major support level at $0.2636, Ripple’s XRP rallied to a final hour intraday high $0.28989.

Ripple’s XRP broke through the first major resistance level at $0.2764 and the second major resistance level at $0.2831.

Resistance at $0.29 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 1.65% to $0.29292. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28771 before rising to a high $0.29347.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2819 pivot level to support a run at the first major resistance level at $0.2962.

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.2950 levels.

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

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.3041.

Failure to avoid a fall through the $0.2819 pivot would bring the first major support level at $0.2739 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.27 levels. The second major support level sits at $0.2597.

Looking at the Technical Indicators

First Major Support Level: $0.2739

Pivot Level: $0.2819

First Major Resistance Level: $0.2962

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob