Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 27th, 2020

Ethereum

Ethereum slid by 8.58% on Thursday. Following on from a 6.06% fall on Wednesday, Ethereum ended the day at $520.34.

A mixed start to the day saw Ethereum rise to an early morning intraday high $577.00 before hitting reverse.

Falling short of the first major resistance level at $598.85, Ethereum slumped to a late morning intraday low $480.08.

Ethereum fell through the first major support level at $546.36 and the second major support level at $523.94.

More significantly, Ethereum fell through the 23.6% FIB of $495.00.

Finding support at sub-$500 levels, however, Ethereum moved back through the 23.6% FIB to wrap up the day at $520 levels.

At the time of writing, Ethereum was down by 0.78% to $516.30. A mixed start to the day saw Ethereum rise to an early morning high $522.55 before falling to a low $515.68.

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

For the day ahead

Ethereum would need to move through the pivot level at $525.81 to support a run at the first major resistance level at $571.53.

Support from the broader market would be needed, however, for Ethereum to break out from $550 levels.

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 $600 before any pullback. The second major resistance level sits at $622.73.

Failure to move through the $525.81 pivot would bring the 23.6% FIB of $495 and the first major support level at $474.61 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$450 levels. The second major support level sits at $428.89.

Looking at the Technical Indicators

First Major Support Level: $474.61

Pivot Level: $525.81

First Major Resistance Level: $571.53

23.6% FIB Retracement Level: $495

38.2% FIB Retracement Level: $416

62% FIB Retracement Level: $288

Litecoin

Litecoin tumbled by 12.96% on Thursday. Following on from an 8.51% slide on Wednesday, Litecoin ended the day at $71.11.

It was a mixed start to the day. Litecoin rose to an early morning intraday high $83.26 before hitting reverse.

Falling short of the first major resistance level at $89.01, Litecoin slid to a late intraday low $64.30.

Litecoin fell through the first major support level at $76.22 and the second major support level at $70.69.

More significantly, the sell-off saw Litecoin fall through the 38.2% FIB of $71.00.

Late in the day, Litecoin recovered to $71 levels to reduce the losses from the day. The 38.2% FIB pinned Litecoin back late on.

At the time of writing, Litecoin was down by 1.27% to $70.21. A mixed start to the day saw Litecoin rise to an early morning high $71.50 before falling to a low $69.95.

Litecoin left the major support and resistance levels untested early on. Litecoin fell through the 38.2% FIB of $71, however.

For the day ahead

Litecoin would need to move through the 38.2% FIB and the $72.89 pivot to support a run at the first major resistance level at $81.48.

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 an extended breakout, Litecoin would likely test resistance at $85 before any pullback. The second major resistance level sits at $91.85.

Failure to move through the $72.89 pivot level would bring the first major support level at $62.52 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$60 levels. The second major support level sits at $53.93.

Looking at the Technical Indicators

First Major Support Level: $62.52

Pivot Level: $72.89

First Major Resistance Level: $81.48

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slumped by 14.78% on Thursday. Following on from a 9.08% slide on Wednesday, Ripple’s XRP ended the day at $0.5370.

It was another mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.6518 before hitting reverse.

Falling short of the first major resistance level at $0.7093, Ripple’s XRP tumbled to a late intraday low $0.45501.

Ripple’s XRP fell through first major support level at $0.5665 and the second major support level at $0.5025. More significantly, however, Ripple’s XRP also slid through the 23.6% FIB of $0.6274 and the 38.2% FIB of $0.5285.

Finding support through the late morning, however, Ripple’s XRP moved back through the 38.2% FIB to wrap up the day at $0.53 levels.

At the time of writing, Ripple’s XRP was down by 1.96% to $0.52645. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.5370 to a low $0.5220.

While steering clear of the major support and resistance levels, Ripple’s XRP fell back through the 38.2% FIB of $0.5285.

For the day ahead

Ripple’s XRP will need to move through the 38.2% FIB and the $0.5479 pivot level to support a run at the first major resistance level at $0.6409.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through the 23.6% FIB of $0.6274.

Barring an 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 resistance at $0.70 before any pullback. The second major resistance level sits at $0.7447.

Failure to move through the $0.5479 pivot would bring the first major support level at $0.4441 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer well clear of sub-$0.40 levels and the 62% FIB of $0.3687. The second major support level sits at $0.3511.

Looking at the Technical Indicators

First Major Support Level: $0.4441

Pivot Level: $0.5479

First Major Resistance Level: $0.6409

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

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

Thanks, Bob