Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 12th, 2021

By November 12, 2021Ethereum
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Ethereum

Ethereum rose by 1.94% on Thursday. Partially reversing a 2.10% loss from Wednesday, Ethereum ended the day at $4,721.87.

A mixed start to the day saw Ethereum fall to an early morning intraday low $4,578.05 before making a move.

Steering clear of the first major support level at $4,439, Ethereum rose to a late afternoon intraday high $4,783.05.

Falling short of the first major resistance level at $4,847, Ethereum fell back to end the day at $4,720 levels.

At the time of writing, Ethereum was down by 0.25% to $4,710.07. A bearish start to the day saw Ethereum fall from an early morning high $4,721.69 to a low $4,710.01.

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

For the day ahead

Ethereum would need to avoid the $4,694 pivot to bring the first major resistance level at $4,811 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,800 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s ATH $4,867.81 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $5,000 levels before any pullback. The second major resistance level sits at $4,899.

A fall through the $4,694 pivot would bring the first major support level at $4,606 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,500 levels. The second major support level sits at $4,489.

Looking at the Technical Indicators

First Major Support Level: $4,606

Pivot Level: $4,694

First Major Resistance Level: $4,811

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.82% on Thursday. Reversing a 0.72% fall from Wednesday, Litecoin ended the day at $262.30.

Tracking the broader market, Litecoin fell to an early morning intraday low $250.61 before making a move.

Steering clear of the first major support level at $241, Litecoin rose to a late morning intraday high $274.27.

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