Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 13th, 2021

By November 13, 2021Ethereum
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Ethereum

Ethereum fell by 1.14% on Friday. Partially reversing a 1.94% gain from Thursday, Ethereum ended the day at $4,667.34.

A mixed start to the day saw Ethereum rise to an early morning intraday high $4,809.27 before hitting reverse.

Coming within range of the first major resistance level at $4,811, Ethereum slid to a late afternoon intraday low $4,508.42.

Ethereum fell through the first major support level at $4,606 before a partial recovery to end the day at $4,660 levels.

At the time of writing, Ethereum was up by 0.70% to $4,700.17. A bullish start to the day saw Ethereum rise from an early morning low $4,667.19 to a high $4,708.60.

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

For the day ahead

Ethereum would need to avoid the $4,662 pivot to bring the first major resistance level at $4,815 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 $4,963.

A fall through the $4,662 pivot would bring the first major support level at $4,514 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,400 levels. The second major support level sits at $4,361.

Looking at the Technical Indicators

First Major Support Level: $4,514

Pivot Level: $4,662

First Major Resistance Level: $4,815

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 4.22% on Friday. Reversing a 0.82% gain from Thursday, Litecoin ended the day at $251.23.

Tracking the broader market, Litecoin rose to an early morning intraday high $282.92 before hitting reverse.

Litecoin broke through the first major resistance level at $274 before sliding to a late afternoon intraday low $243.86.

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