Coins of crypto currency are presented on a dark background. Virtual money concept.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 10th, 2020

Ethereum

Ethereum fell by 2.16% on Monday. Partially reversing a 4.30% rally from Sunday, Ethereum ended the day at $444.81.

It was a bearish start to the day. Ethereum fell to a late morning low $441.7 before making a move.

Steering clear of the first major support level at $437.98, Ethereum rallied to a mid-day intraday high $460.00.

Falling short of the first major resistance level at $465.90, Ethereum fell to a late afternoon intraday low $433.83.

Ethereum fell through the first major support level at $437.98 before briefly revisiting $450 levels.

A bearish end to the day left Ethereum in the deep red, however.

At the time of writing, Ethereum was down by 0.97% to $440.51. A mixed start to the day saw Ethereum rise to an early morning high $445.14 before falling to a low $440.14

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

ETH/USD 10/11/20 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $446.21 to support a run at the first major resistance level at $458.60.

Support from the broader market would be needed, however, for Ethereum to break out from $455 levels.

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

In the event of a breakout, Ethereum could test resistance at $460 before any pullback. The second major resistance level sits at $472.38.

Failure to move through the $446.21 pivot would bring the first major support level at $432.43 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $420.04.

Looking at the Technical Indicators

First Major Support Level: $432.43

Pivot Level: $446.21

First Major Resistance Level: $458.60

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 2.85% on Monday. Partially reversing a 3.43% gain from Sunday, Litecoin ended the day a $59.25.

It was also a mixed start to the day. Litecoin fell to a late morning low $59.22 before making a move.

Steering clear of the first major support level at $59.08, Litecoin rallied to a late morning intraday high $61.88.

Falling short of the first major resistance level at $62.48, Litecoin slid to a late afternoon intraday low $57.45.

Litecoin fell through the first major support level at $59.08 before finding late support.

The partial recovery saw Litecoin move back through the first major support to end the day at $59.2 levels.

At the time of writing, Litecoin was down by 0.98% to $58.67. A bearish start to the day saw Litecoin fall from an early morning high $59.31 to a low $58.62.

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

LTC/USD 10/11/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $59.53 pivot to support a run at the first major resistance level at $61.60.

Support from the broader market would be needed, however, for Litecoin to break out from $60 levels.

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

In the event of an extended breakout, Litecoin would likely test resistance at $62 before any pullback. The second major resistance level sits at $63.96.

Failure to move through the $59.53 pivot level would bring the first major support level at $57.17 into play.

Barring another extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $55.10.

Looking at the Technical Indicators

First Major Support Level: $57.17

Pivot Level: $59.53

First Major Resistance Level: $61.60

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 1.23% on Monday. Partially reversing a 1.79% gain from Sunday, Ripple’s XRP ended the day at $0.25056.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.2560 before hitting reverse.

Falling short of the first major resistance level at $0.2580, Ripple’s XRP fell to a late morning low $0.24933.

Steering clear of the first major support level at $0.2486, Ripple’s XRP struck a late morning intraday high $0.25610.

Continuing to fall short of the first major resistance level, Ripple’s XRP fell to a late afternoon intraday low $0.24593.

Ripple’s XRP fell through the first major support level at $0.2486 before recovering to $0.25 levels.

At the time of writing, Ripple’s XRP was down by 0.45% to $0.24943. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25055 to a low $0.24823.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 10/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2509 pivot level to support a run at the first major resistance level at $0.2558.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.255 levels.

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

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2610.

Failure to move through the $0.2509 pivot would bring the first major support level at $0.2456 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level at $0.2407 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2456

Pivot Level: $0.2509

First Major Resistance Level: $0.2558

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