Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 22nd, 2021

By November 22, 2021Ethereum
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Ethereum

Ethereum fell by 3.47% on Sunday. Reversing a 2.72% gain from Saturday, Ethereum ended the week down by 7.86% to $4,262.99.

Bearish through the morning, Ethereum fell to an early afternoon low $4,301.98 before making a move.

Steering clear of the first major support level at $4,269, Ethereum rose to a late afternoon intraday high $4,427.72.

Falling short of the first major resistance level at $4,502, however, Ethereum slid to a late intraday low $4,246.07.

Ethereum fell through the first major support level at $4,269 to end the day at $4,262 levels.

At the time of writing, Ethereum was down by 0.37% to $4,247.05. A mixed start to the day saw Ethereum rise to an early morning high $4,270.34 before falling to a low $4,243.41.

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

For the day ahead

Ethereum would need to move through the $4,311 pivot to bring the first major resistance level at $4,380 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,350 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $4,427.72 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $4,500 levels before any pullback. The second major resistance level sits at $4,497.

Failure to move through the $4,311 pivot would bring the first major support level at $4,194 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level at $4,125 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,194

Pivot Level: $4,311

First Major Resistance Level: $4,380

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin fell by 2.44% on Sunday. Partially reversing a 4.07% gain from Saturday, Litecoin ended the week down by 20.72% to $221.48.

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