Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 11th, 2020

Ethereum

Ethereum rose by 1.36% on Tuesday. Partially reversing a 2.16% fall from Monday, Ethereum ended the day at $450.89.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $439.36 before making a move.

Steering clear of the first major support level at $432.43, Ethereum rallied to a late morning intraday high $455.51.

Falling short of the first major resistance level at $458.60 Ethereum fell back to sub-$450 levels.

Finding support in the 2nd half of the day, Ethereum briefly revisited $455 levels before easing back to sub-$451 levels.

At the time of writing, Ethereum was down by 0.12% to $450.33. A mixed start to the day saw Ethereum rise to an early morning high $451.85 before falling to a low $450.11.

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 $448.59 to support a run at the first major resistance level at $457.81.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $455.51.

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

In the event of a breakout, Ethereum could test resistance at $460 before any pullback. The second major resistance level sits at $464.74.

Failure to avoid a fall through the $448.59 pivot would bring the first major support level at $441.66 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $432.44.

Looking at the Technical Indicators

First Major Support Level: $441.66

Pivot Level: $448.59

First Major Resistance Level: $457.81

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 2.23% on Tuesday. Following on from a 2.85% slide on Monday, Litecoin ended the day a $57.97.

It was also a mixed start to the day. Litecoin rose to an early morning intraday high $59.63 before hitting reverse.

Falling well short of the first major resistance level at $61.60, Litecoin fell to a mid-afternoon intraday low $57.12.

Finding support at the first major support level at $57.17, Litecoin revisited $58 levels before easing back.

At the time of writing, Litecoin was flat at $57.97. A mixed start to the day saw Litecoin rise from an early morning low $57.97 to a high $58.11.

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

http://finance.yahoo.com/

For the day ahead

Litecoin would need to move through the $58.24 pivot to support a run at the first major resistance level at $59.36.

Support from the broader market would be needed, however, for Litecoin to break back through to $59 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $60 would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $61 before any pullback. The second major resistance level sits at $60.75.

Failure to move through the $58.24 pivot level would bring the first major support level at $56.85 into play.

Barring another extended sell-off on the day, however, Litecoin should steer well clear of the 23.6% FIB of $54.00. The second major support level at $55.73 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $56.85

Pivot Level: $58.24

First Major Resistance Level: $59.36

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 1.41% on Tuesday. Reversing a 1.23% fall from Monday, Ripple’s XRP ended the day at $0.25409.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24823 before making a move.

Steering clear of the first major support level at $0.2456, Ripple’s XRP rallied to a late morning intraday high $0.26462.

Ripple’s XRP broke through the first major resistance level at $0.2558 and the second major resistance level at $0.2610.

A late morning reversal, however, saw Ripple’s XRP slide back to $0.256 levels going into the afternoon.

In the 2nd half of the day, Ripple’s XRP broke back through the first major resistance level before ending the day at $0.254 levels.

At the time of writing, Ripple’s XRP was down by 0.37% to $0.25314. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25451 before falling to a low $0.25274.

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

http://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to move through the $0.2556 pivot level to support a run at the first major resistance level at $0.2631.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.26 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.26462 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2720.

Failure to move through the $0.2556 pivot would bring the first major support level at $0.2467 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level sits at $0.2393.

Looking at the Technical Indicators

First Major Support Level: $0.2467

Pivot Level: $0.2556

First Major Resistance Level: $0.2631

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

This article was originally posted on FX Empire

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