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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 21st, 2020

Ethereum

Ethereum rallied by 8.16% on Friday. Reversing a 1.48% loss from Thursday, Ethereum ended the day at $510.43.

It was another mixed start to the day. Ethereum fell to an early morning intraday low $471.07 before making a move.

Steering clear of the first major support level at $464.40, Ethereum rallied to a late afternoon intraday high $514.73.

Ethereum broke through the major resistance levels before a brief fall back to sub-$505 levels.

The pullback saw Ethereum fall through the third major resistance level at $504.32 before wrapping up the day at $510 levels.

At the time of writing, Ethereum was up by 1.39% to $517.53. A bullish start to the day saw Ethereum rise from an early morning low $510.26 to a high $518.92.

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

ETHUSD 211120 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $498.74 to support a run at the first major resistance level at $526.42.

Support from the broader market would be needed, however, for Ethereum to break through to $520 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $530 would likely cap any upside.

In the event of another breakout, Ethereum could test the second major resistance level at $542.4 and the 62% FIB of $543.0.

Failure to avoid a fall through the $498.74 pivot would bring the first major support level at $482.76 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$480 levels. The second major support level sits at $455.08.

Looking at the Technical Indicators

First Major Support Level: $482.76

Pivot Level: $498.74

First Major Resistance Level: $526.42

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 1.25% on Friday. Following on from an 11.09% surge on Thursday, Litecoin ended the day at $82.6.

It was a mixed start to the day. Litecoin fell to a late morning intraday low $80.17 before making a move

Steering clear of the first major support level at $74.28, Litecoin rallied to a late afternoon intraday high $85.92.

Falling short of the first major resistance level at $86.25, Litecoin eased back to end the day at $82 levels.

At the time of writing, Litecoin was up by 1.26% to $83.70. A bullish start to the day saw Litecoin rise from an early morning low $82.60 to a high $85.39.

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

LTCUSD 211120 Hourly Chart

For the day ahead

Litecoin would need to move through the $82.92 pivot to support a run at the first major resistance level at $85.66.

Support from the broader market would be needed, however, for Litecoin to break back through to $85 levels.

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

In the event of another extended breakout, Litecoin would likely test the second major resistance level at $88.67.

Failure to move through the $82.92 pivot level would bring the first major support level at $79.91 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $77.17.

Looking at the Technical Indicators

First Major Support Level: $79.91

Pivot Level: $82.92

First Major Resistance Level: $85.66

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rallied by 8.71% on Friday. Following on from a 3.42% rally on Thursday, Ripple’s XRP ended the day at $0.33041.

It was a mixed start to the day. Ripple’s XRP fell to a late morning intraday low $0.29727 before making a move.

Steering clear of the first major support level at $0.2898, however, Ripple’s XRP rallied to a final hour intraday high $0.33113.

Ripple’s XRP broke through the first major resistance level at $0.3125 and the second major resistance level at $0.3210.

At the time of writing, Ripple’s XRP was up by 3.43% to $0.34175. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.32997 to a high $0.34410

Ripple’s XRP broke through the first major resistance level at $0.3419 early on.

XRPUSD 211120 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.3196 pivot level to support another run at the first major resistance level at $0.3419.

Support from the broader market would be needed, however, for Ripple’s XRP to hold onto $0.34 levels.

Barring an extended crypto rally, the first major resistance level and morning high $0.34410 would likely cap any upside.

In the event of another extended rally, Ripple’s XRP could test resistance at $0.35 before any pullback. The second major resistance level sits at $0.3535.

Failure to avoid a fall through the $0.3196 pivot would bring the first major support level at $0.3081 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.30 levels. The second major support level sits at $0.2857.

Looking at the Technical Indicators

First Major Support Level: $0.3081

Pivot Level: $0.3196

First Major Resistance Level: $0.3419

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