Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 18th, 2020

By November 17, 2020Ethereum
Click here to view original web page at www.fxempire.com
Investing and stock market concept gain and profits with faded candlestick charts.

Ethereum

Ethereum rallied by 4.73% on Tuesday. Following on from a 2.73% gain on Monday, Ethereum ended the day at $482.68.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $460.05 before making a move.

Steering clear of the first major support level at $449.10, Ethereum rallied to a late intraday high $485.00.

Ethereum broke through the first major resistance level at $469.40 and the second major resistance level at $477.96.

In spite of a late pullback, Ethereum avoided a fall back through to sub-$480 levels, wrapping up the day at $482 levels.

At the time of writing, Ethereum was up by 0.35% to $484.39. A mixed start to the day saw Ethereum fall to an early morning low $482.40 before rising to a high $484.61.

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 $475.91 to support a run at the first major resistance level at $491.77.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $485.00.

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

In the event of another breakout, Ethereum could test resistance at $500 before any pullback. The second major resistance level sits at $500.86.

Failure to avoid a fall through the $475.91 pivot would bring the first major support level at $466.82 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$460 levels. The second major support level sits at $450.96.

Looking at the Technical Indicators

First Major Support Level: $466.82

Pivot Level: $475.91

First Major Resistance Level: $491.77

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 3.51% on Tuesday. Following on from an 18.45% surge on Monday, Litecoin ended the day at $76.41.

It was a bullish start to the day. Litecoin rallied to an early morning high $75.87 before hitting reverse.

Falling short of the first major resistance level at $78.27, Litecoin fell to a late morning intraday low $71.48.

In spite of the pullback, Litecoin steered clear of the 38.2% FIB of $71 and the first major support level at $65.78.

Finding support in the early afternoon, Litecoin rallied to a late intraday high $77.04 before easing back.

Litecoin failed to test the major resistance levels on the day.

At the time of writing, Litecoin was up by 0.18% to $76.55. A bullish start to the day saw Litecoin rise from an early morning low $76.35 to a high $76.91.

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

For the day ahead

Litecoin would need to avoid a fall through the $74.98 pivot to support a run at the first major resistance level at $78.47.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $77.04.

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 $80 before any pullback. The second major resistance level sits at $80.54.

Failure to avoid a fall through the $74.98 pivot level would bring the first major support level at $72.91 and the 38.2% FIB of 71 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$70. The second major support level sits at $69.42.

Looking at the Technical Indicators

First Major Support Level: $72.91

Pivot Level: $74.98

First Major Resistance Level: $78.47

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 5.08% on Tuesday. Following on from a 7.03% breakout on Monday, Ripple’s XRP ended the day at $0.30278.

It was a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.28771 before making a move.

Steering clear of the first major support level at $0.2739, Ripple’s XRP rallied to a mid-day intraday high $0.30550.

Ripple’s XRP broke through the first major resistance level at $0.2962 and the second major resistance level at $0.3041.

Bearish going into the afternoon, however, Ripple’s XRP fell back to sub-$0.30 levels before wrapping up the day at $0.0302 levels.

The second major resistance level pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.90% to $0.30550. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.30277 to a high $0.30550.

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 $0.2987 pivot level to support a run at the first major resistance level at $0.3096.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.3080 levels.

Barring another extended crypto rally, the first major resistance level and resistance at $0.31 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.3165.

Failure to avoid a fall through the $0.2987 pivot would bring the first major support level at $0.2918 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.29 levels. The second major support level sits at $0.2809.

Looking at the Technical Indicators

First Major Support Level: $0.2918

Pivot Level: $0.2987

First Major Resistance Level: $0.3096

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

Ethereum rallied by 4.73% on Tuesday. Following on from a 2.73% gain on Monday, Ethereum ended the day at $482.68.

It was a mixed start to the day. Ethereum […]

Leave a Reply

All Today's Crypto News In One Place