Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 23rd, 2021

By November 23, 2021Ethereum
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Ethereum

Ethereum slid by 4.08% on Monday. Following a 3.47% loss on Sunday, Ethereum ended the day at $4,089.16.

After a choppy start to the day, Ethereum struck an early afternoon intraday high $4,322.86 before hitting reverse.

Falling well short of the first major resistance level at $4,380, Ethereum slid to a late intraday low $4,024.45.

The extended sell-off saw Ethereum fall through the first major support level at $4,194 and the second major support level at $4,125.

Steering clear of sub-$4,000 support levels, however, Ethereum revisited $4,117 levels before easing back.

At the time of writing, Ethereum was down by 0.21% to $4,080.57. A mixed start to the day saw Ethereum rise to an early morning high $4,091.23 before falling to a low $4,076.15.

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

For the day ahead

Ethereum would need to move through the $4,146 pivot to bring the first major resistance level at $4,267 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,200 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $4,322.86 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 $4,444.

Failure to move through the $4,146 pivot would bring the first major support level at $3,968 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $3,738. The second major support level at $3,847 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,968

Pivot Level: $4,146

First Major Resistance Level: $4,267

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin slid by 5.54% on Monday. Following a 2.44% fall on Sunday, Litecoin ended the day at $209.22.

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