Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 19th, 2020

Ethereum

Ethereum fell by 0.79% on Wednesday. Partially reversing a 4.73% rally from Tuesday, Ethereum ended the day at $478.96.

It was a bullish start to the day. Ethereum rallied to an early morning intraday high $495.68 before hitting reverse.

Ethereum broke through the first major resistance level at $491.77 before sliding to a mid-morning intraday low $456.5.

The sell-off saw Ethereum fall through the first major support level at $466.82 to sub-$460 before finding support.

Ethereum briefly revisited $482 levels before sliding back into the red. Late support limited the downside on the day, however.

At the time of writing, Ethereum was down by 0.51% to $476.53. A mixed start to the day saw Ethereum rise to an early morning high $480.88 before falling to a low $474.27.

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

ETHUSD 191120 Hourly Chart

For the day ahead

Ethereum would need to move back through the pivot level at $477.05 to support a run at the first major resistance level at $497.59.

Support from the broader market would be needed, however, for Ethereum to break back through to $490 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $495.68 would likely cap any upside.

In the event of another breakout, Ethereum could test resistance at $510 before any pullback. The second major resistance level sits at $516.23.

Failure to move back through the $477.05 pivot would bring the first major support level at $458.41 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$450 levels. The second major support level sits at $437.87.

Looking at the Technical Indicators

First Major Support Level: $458.41

Pivot Level: $477.05

First Major Resistance Level: $497.59

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin slid by 3.78% on Wednesday. Reversing a 3.51% rally from Tuesday, Litecoin ended the day at $73.48.

It was a bearish start to the day. Litecoin slid from an early morning intraday high $77.17 to a mid-morning intraday low $68.34.

The sell-off saw Litecoin fall through the first major support level at $72.91 and the second major support level at $69.42. More significantly, Litecoin also fell through the 38.2% FIB of $71.00.

Finding late support, however, Litecoin briefly revisited $74 levels before wrapping up the day at $73 levels.

The late recovery saw Litecoin break back through the support levels and the 38.2% FIB.

At the time of writing, Litecoin was up by 0.38% to $73.76. A mixed start to the day saw Litecoin fall to an early morning low $72.87 before rising to a high $73.99.

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

LTCUSD 191120 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall back through the $73.00 pivot to support a run at the first major resistance level at $77.66.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $77.18.

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 resistance at $80 before any pullback. The second major resistance level sits at $81.84.

Failure to avoid a fall through the $73.00 pivot level would bring the 38.2% FIB of $71and the first major support level at $68.82 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$68. The second major support level sits at $64.16.

Looking at the Technical Indicators

First Major Support Level: $68.82

Pivot Level: $73.00

First Major Resistance Level: $77.66

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slid by 3.01% on Wednesday. Partially reversing a 5.08% gain from Tuesday, Ripple’s XRP ended the day at $0.29366.

It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.30820 before hitting reverse.

Falling short of the first major resistance level at $0.3096, Ripple’s XRP slid to a mid-morning intraday low $0.28049.

Ripple’s XRP fell through the first major support level at $0.2918 before a late recovery to $0.29 levels.

Off the back of the late support, Ripple’s XRP broke back through the first major support level at $0.2918.

At the time of writing, Ripple’s XRP was down by 0.61% to $0.29186. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29431 before falling to a low $0.29007.

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

XRPUSD 191120 Hourly Chart

For the day ahead

Ripple’s XRP will need to move back through the $0.2941 pivot level to support a run at the first major resistance level at $0.3077.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.

Barring an extended crypto rally, the first major resistance level Wednesday’s high $0.30820 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.31 before any pullback. The second major resistance level sits at $0.3218.

Failure to move back through the $0.2941 pivot would bring the first major support level at $0.2800 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.27 levels. The second major support level sits at $0.2664.

Looking at the Technical Indicators

First Major Support Level: $0.2800

Pivot Level: $0.2941

First Major Resistance Level: $0.3077

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

The Crypto Daily – Movers and Shakers – November 18th, 2020

Bitcoin, BTC to USD, rallied by 5.72% on Tuesday. Following on from a 4.72% rise on Monday, Bitcoin ended the day at $16,674.9.

It was a mixed start to the day. Bitcoin slipped to an early morning intraday low $16,535.0 before making a move.

Steering clear of the first major support level at $16,105, Bitcoin rallied to a late afternoon intraday high and a new swing hi $17,815.0.

Bitcoin broke through the first major resistance level at $17,103 and the second major resistance level at $17,486.

Coming up short of $18,000 levels, Bitcoin briefly fell back through the second major resistance level.

Finding late support, however, Bitcoin broke back through the second major resistance level to wrap up the day at $17,670 levels.

The near-term bullish trend remained intact, supported by the latest move through to $17,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $8,768 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Tuesday.

Bitcoin Cash SV (+5.74%), Chainlink (+5.88%), Cardano’s ADA (+5.38%), Ethereum (+4.73%), and Ripple’s XRP (+5.08%) led the way.

Binance Coin (+2.20%), Crypto.com Coin (+1.24%), Litecoin (+3.51%), and Polkadot (+1.95%) saw relatively modest gains on the day.

At the start of the week, the crypto total market cap rose from a Monday low $445.47bn to a Tuesday high $504.31bn. At the time of writing, the total market cap stood at $493.74bn.

Bitcoin’s dominance fell to a Monday low 65.43% before rising to a Tuesday high 66.63%. At the time of writing, Bitcoin’s dominance stood at 66.51%.

This Morning

At the time of writing, Bitcoin was up by 0.07% to $17,687.0. A mixed start to the day saw Bitcoin fall to an early morning low $17,650.0 before rising to a high $17,693.7.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin (-0.77%), Litecoin (-1.48%), and Polkadot (-0.30%) bucked the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Chainlink was up by 3.82% to lead the way.

BTCUSD 181120 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $17,342 to bring the first major resistance level at $18,148 into play.

Support from the broader market would be needed for Bitcoin to break through to $18,000 levels.

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

In the event of another crypto breakout, Bitcoin could test resistance at $18,500 before any pullback. The second major resistance level sits at $18,622.

Failure to avoid a fall through the $17,342 pivot would bring the first major support level at $16,868 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$16,500 levels. The second major support level sits at $16,062.

 

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 18th, 2020

Ethereum

Ethereum rallied by 4.73% on Tuesday. Following on from a 2.73% gain on Monday, Ethereum ended the day at $482.68.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $460.05 before making a move.

Steering clear of the first major support level at $449.10, Ethereum rallied to a late intraday high $485.00.

Ethereum broke through the first major resistance level at $469.40 and the second major resistance level at $477.96.

In spite of a late pullback, Ethereum avoided a fall back through to sub-$480 levels, wrapping up the day at $482 levels.

At the time of writing, Ethereum was up by 0.35% to $484.39. A mixed start to the day saw Ethereum fall to an early morning low $482.40 before rising to a high $484.61.

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

ETHUSD 181120 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $475.91 to support a run at the first major resistance level at $491.77.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $485.00.

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

In the event of another breakout, Ethereum could test resistance at $500 before any pullback. The second major resistance level sits at $500.86.

Failure to avoid a fall through the $475.91 pivot would bring the first major support level at $466.82 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$460 levels. The second major support level sits at $450.96.

Looking at the Technical Indicators

First Major Support Level: $466.82

Pivot Level: $475.91

First Major Resistance Level: $491.77

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 3.51% on Tuesday. Following on from an 18.45% surge on Monday, Litecoin ended the day at $76.41.

It was a bullish start to the day. Litecoin rallied to an early morning high $75.87 before hitting reverse.

Falling short of the first major resistance level at $78.27, Litecoin fell to a late morning intraday low $71.48.

In spite of the pullback, Litecoin steered clear of the 38.2% FIB of $71 and the first major support level at $65.78.

Finding support in the early afternoon, Litecoin rallied to a late intraday high $77.04 before easing back.

Litecoin failed to test the major resistance levels on the day.

At the time of writing, Litecoin was up by 0.18% to $76.55. A bullish start to the day saw Litecoin rise from an early morning low $76.35 to a high $76.91.

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

For the day ahead

Litecoin would need to avoid a fall through the $74.98 pivot to support a run at the first major resistance level at $78.47.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $77.04.

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 resistance at $80 before any pullback. The second major resistance level sits at $80.54.

Failure to avoid a fall through the $74.98 pivot level would bring the first major support level at $72.91 and the 38.2% FIB of 71 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$70. The second major support level sits at $69.42.

Looking at the Technical Indicators

First Major Support Level: $72.91

Pivot Level: $74.98

First Major Resistance Level: $78.47

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 5.08% on Tuesday. Following on from a 7.03% breakout on Monday, Ripple’s XRP ended the day at $0.30278.

It was a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.28771 before making a move.

Steering clear of the first major support level at $0.2739, Ripple’s XRP rallied to a mid-day intraday high $0.30550.

Ripple’s XRP broke through the first major resistance level at $0.2962 and the second major resistance level at $0.3041.

Bearish going into the afternoon, however, Ripple’s XRP fell back to sub-$0.30 levels before wrapping up the day at $0.0302 levels.

The second major resistance level pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.90% to $0.30550. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.30277 to a high $0.30550.

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

XRPUSD 181120 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2987 pivot level to support a run at the first major resistance level at $0.3096.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.3080 levels.

Barring another extended crypto rally, the first major resistance level and resistance at $0.31 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.3165.

Failure to avoid a fall through the $0.2987 pivot would bring the first major support level at $0.2918 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.29 levels. The second major support level sits at $0.2809.

Looking at the Technical Indicators

First Major Support Level: $0.2918

Pivot Level: $0.2987

First Major Resistance Level: $0.3096

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

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 17th, 2020

Ethereum

Ethereum rose by 2.73% on Monday. Reversing a 2.74% fall from Sunday, Ethereum ended the day at $460.85.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $445.91 before making a move.

Steering clear of the first major support level at $437.82, Ethereum rallied to a late intraday high $466.21.

Ethereum broke through the first major resistance level at $461.29 before a fall back to sub-$460 levels.

A bullish end to the day, however, saw Ethereum break back through the first major resistance level to end the day at $460 levels.

At the time of writing, Ethereum was up by 0.46% to $462.96. A mixed start to the day saw Ethereum fall to an early morning low $460.05 before striking a high $463.13.

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

ETH/USD Hourly Chart 171120

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $457.66 to support a run at the first major resistance level at $469.40.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $466.21.

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

In the event of a breakout, Ethereum could test resistance at $480 before any pullback. The second major resistance level sits at $477.96.

Failure to avoid a fall through the $457.66 pivot would bring the first major support level at $449.10 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$440 levels. The second major support level sits at $437.36.

Looking at the Technical Indicators

First Major Support Level: $449.10

Pivot Level: $457.66

First Major Resistance Level: $469.40

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin surged by 18.45% on Monday. Reversing a 2.38% loss from Sunday, Litecoin ended the day at $73.83.

It was a particularly bullish day. Litecoin rallied from an early morning intraday low $62.16 to a final hour intraday high $74.65.

The day-long rally saw Litecoin broke through the day’s major resistance levels at the 38.2% FIB of $71.00.

At the time of writing, Litecoin was up by 1.42% to $74.88. A mixed start to the day saw Litecoin fall to an early morning low $73.35 before rising to a high $74.88.

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

LTC/USD Hourly Chart 171120

For the day ahead

Litecoin would need to avoid a fall through the 38.2% FIB and the $70.21 pivot to support a run at the first major resistance level at $78.27.

Support from the broader market would be needed, however, for Litecoin to break out from $75 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 resistance at $85 before any pullback. The second major resistance level sits at $82.70.

Failure to avoid a fall through the 38.2% FIB and the $70.21 pivot level would bring the first major support level at $65.78 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$60. The second major support level sits at $57.72.

Looking at the Technical Indicators

First Major Support Level: $65.78

Pivot Level: $70.21

First Major Resistance Level: $78.27

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 7.03% on Monday. Following on from a 0.38% gain on Sunday, Ripple’s XRP ended the day at $0.28817.

It was a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.26767 before making a move.

Steering clear of the first major support level at $0.2636, Ripple’s XRP rallied to a final hour intraday high $0.28989.

Ripple’s XRP broke through the first major resistance level at $0.2764 and the second major resistance level at $0.2831.

Resistance at $0.29 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 1.65% to $0.29292. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28771 before rising to a high $0.29347.

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

XRP/USD Hourly Chart 171120

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2819 pivot level to support a run at the first major resistance level at $0.2962.

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.2950 levels.

Barring another 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 $0.3041.

Failure to avoid a fall through the $0.2819 pivot would bring the first major support level at $0.2739 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.27 levels. The second major support level sits at $0.2597.

Looking at the Technical Indicators

First Major Support Level: $0.2739

Pivot Level: $0.2819

First Major Resistance Level: $0.2962

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

Bitcoin Reaches New Yearly Highs While Investors Grasp 5.72% in Weekly Returns

As demand surpasses the number of tokens that holders are willing to sell, the supply shortage appears to be triggering a new parabolic advance as it did in all previous halving.

Such market behavior was visible during the week of November 9th. Bitcoin kicked off the weekly trading session at $15,483, and within eight hours, it had jumped more than 2.4% to hit a high of $15,857. A spike in miners’ deposits to exchanges followed the upward price action, which resulted in a 6.56% correction.

By 16:00 UTC, BTC had dropped to $14,817, marking the week’s lowest price point. As buy orders began to pile up, the pioneer cryptocurrency was able to recover all losses incurred. The buying pressure saw it rise for two consecutive days to reach a high of $16,000 on Wednesday, November 11th, at 16:00 UTC.

This price point was met with a lot of excitement from the cryptocurrency community because it was the first time since January 2018 that Bitcoin was trading at such levels. Bears were able to capitalize on the hype and triggered a 3.46% pushing BTC down to $15,447. Regardless, demand continued rising alongside prices.

By Friday, November 13th, the bellwether cryptocurrency had surged another 6.8%, reaching a new yearly high of $16,492. But as the week was coming to an end, some investors seemingly decided to realize profits pushing prices down to close at $16,340. Bitcoin holders were able to generate a weekly return of 5.72% due to the impressive price action.

Ethereum Goes Through Unannounced Hard Fork But Manages to Weather the Storm

Like Bitcoin, Ethereum also opened the week of November 9th going through high levels of volatility. The smart contracts giant dropped 2.23% during the first few hours of Monday’s trading session, then rebounded by 3.5% to a high of $460, and ultimately plunged 5.7% to hit a low of $433.83. Despite the erratic price action, Ether was in a steady uptrend throughout the rest of the week.

Indeed, the second-largest cryptocurrency by market capitalization was able to bounce off from support to hit a high of $476.8 on Wednesday, November 11th, representing a nearly 10% upswing. Although it appears that ETH had more gas in the tank, the Ethereum Foundation pushed the network into an unannounced hard fork that put a pause to the uptrend. Market participants reacted negatively to the news as it showed the levels of decentralization on the protocol.

What followed was a 5.2% correction that saw Ether retrace to a low of $452. Although the crypto community appeared concerned about the two-year-old dormant bug that caused the network upgrade, the news was not significant enough to ignite further selling. Consequently, the smart contracts token resumed its uptrend, pushing for higher highs.

By Friday, November 13th, Ethereum was up more than 5.8%, trading at a high of $478.31. Prices tumbled a little as the weekly trading session was coming to an end, and ETH closed at $477.15. Investors were able to grasp a weekly return of 5.15%.

Higher Highs on the Horizon

Crypto enthusiasts are growing overwhelmingly bullish about the price action that Bitcoin and Ethereum experienced throughout the week of November 9th. Since the crowd’s wisdom is usually wrong, the overall market sentiment is something to be concerned about. It is imperative to employ a solid risk management strategy to avoid potential losses in a sudden correction.

Nonetheless, it seems like both BTC and ETH are poised for higher highs from a technical perspective. The Tom Demark (TD) Sequential indicator suggests that these cryptocurrencies may continue to rise for another two to three weeks before a sell signal emerges. If this is the case, Bitcoin could rise to $19,000, while Ethereum breaches the $500 mark.

Konstantin Anissimov, Executive Director at CEX.IO

The Crypto Daily – The Movers and Shakers – November 16th, 2020

Bitcoin, BTC to USD, fell by 0.58% on Sunday. Following on from a 1.54% slide on Saturday, Bitcoin ended the week up by 3.00% to $15,965.0.

It was a mixed start to the day. Recovering from an early morning low $15,870.1, Bitcoin rose to a late morning intraday high $16,151.0.

Falling well short of the first major resistance level at $16,343, Bitcoin slid to a late intraday low $15,794.0.

Steering clear of the first major support level at $15,743, Bitcoin moved back through to $15,900 levels to limit the loss on the day.

Resistance at $16,000 pinned Bitcoin back late in the day.

The near-term bullish trend remained intact, supported by the latest move through to $16,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $8,768 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Ripple’s XRP rose by 0.38% to buck the trend for a 2nd consecutive day.

It was a bearish day for the rest of the majors, however, which joined Bitcoin in the red once more.

Chainlink (-3.62%) and Cardano’s ADA (-3.45%) led the way down.

Litecoin (-2.38%), Ethereum (-2.74%), and Crypto.com Coin (-2.37%) also struggled on the day.

Binance Coin (-0.89%), Bitcoin Cash SV (-1.48%), and Polkadot (-1.45%) saw relatively modest losses.

For the week, it was also a mixed bag.

Litecoin (+2.26%) and Ripple’s XRP (+6.29%) bucked the trend for the week to join Bitcoin in the green.

It was a bearish week for the rest of the majors, however.

Crypto.com Coin slid by -10.10% to lead the way down, with Bitcoin Cash SV (-7.90%), Cardano’s ADA (-5.70%), and Chainlink (-4.64%) also struggling.

Binance Coin (-2.59%), Ethereum (-1.33%), and Polkadot (-3.02%) saw relatively modest losses for the week.

For the week, the crypto total market cap fell to a Monday low $421.37bn before rising to a Friday high $471.11bn. At the time of writing, the total market cap stood at $451.28bn.

Bitcoin’s dominance fell to a Tuesday low 64.22% before rising to a Friday high 66.00%. At the time of writing, Bitcoin’s dominance stood at 65.54%.

The Crypto News

Overnight, a Bitcoin Cash ABC hard fork took place. The hard fork occurred as a result of disagreement over its Infrastructure Funding Plan (“IFP”).

Early reports indicate that Bitcoin Cash Node (“BCHN”) will become the dominant network, according to Coin.Dance.

At the time of writing, Bitcoin Cash Node was 43 blocks ahead.

This Morning

At the time of writing, Bitcoin was down by 0.05% to $15,957.0. A Bearish start to the day saw Bitcoin fall from an early morning high $15,966.0 to a low $15,874.0.

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

Elsewhere, it was a mixed start to the day early on.

Cardano’s ADA (+0.01%), Ethereum (+0.32%), Litecoin (+1.49%), Polkadot (+0.41%), and Ripple’s XRP (+0.28%) found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was down by 3.49% to lead the way down.

BTC/USD 16/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $15,970 to bring the first major resistance level at $16,146 into play.

Support from the broader market would be needed for Bitcoin to break back through to $16,100 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $16,151.0 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $16,327. Resistance at $16,500 would likely cap any upside to a breakout, however.

Failure to move back through the $15,970 pivot would bring the first major support level at $15,789 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$15,500 levels. The second major support level at $15,613 should limit any downside.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 16th, 2020

Ethereum

Ethereum fell by 2.74% on Sunday. Following on from a 3.35% slide on Saturday, Ethereum ended the week down by 1.33% to $448.58.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $463.24 before hitting reverse.

Falling short of the first major resistance level at $475.38, Ethereum fell to a late intraday low $439.77.

The sell-off saw Ethereum fall through the first major support level at $449.55. Finding late support, Ethereum partially recovered to end the day at $448 levels.

At the time of writing, Ethereum was down by 0.27% to $447.36. A bearish start to the day saw Ethereum fall from an early morning high $448.80 to a low $447.13.

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

ETH/USD 16/11/20 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $450.53 to support a run at the first major resistance level at $461.29.

Support from the broader market would be needed, however, for Ethereum to break back through to $460 levels.

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

In the event of a breakout, Ethereum could test resistance at $470 before any pullback. The second major resistance level sits at $474.00.

Failure to move through the $450.53 pivot would bring the first major support level at $437.82 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$430 levels. The second major support level sits at $427.06.

Looking at the Technical Indicators

First Major Support Level: $437.82

Pivot Level: $450.53

First Major Resistance Level: $461.29

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 2.38% on Sunday. Following on from a 3.27% slide on Saturday, Litecoin ended the week up by 2.26% to $62.37.

It was also a mixed start to the day. Litecoin rose to an early morning intraday high $64.50 before hitting reverse.

Falling short of the first major resistance level at $66.21, Litecoin fell to a late intraday low $61.08.

Litecoin fell through the first major support level at $61.61 before a move back through to $62 levels.

At the time of writing, Litecoin was down by 0.21% to $62.24. A bearish start to the day saw Litecoin fall from an early morning high $62.37 to a low $62.16.

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

LTC/USD 16/11/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $62.65 pivot to support a run at the first major resistance level at $64.22.

Support from the broader market would be needed, however, for Litecoin to break back through to $64 levels.

Barring another extended crypto rally, the first major resistance level and Sunday’s high $64.5 would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $66 before any pullback. The second major resistance level sits at $66.07.

Failure to move through the $62.65 pivot level would bring the first major support level at $60.80 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$60. The second major support level sits at $59.23.

Looking at the Technical Indicators

First Major Support Level: $60.80

Pivot Level: $62.65

First Major Resistance Level: $64.22

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.38% on Sunday. Following on from a 0.98% gain on Saturday, Ripple’s XRP  ended the week up by 6.29% to $0.26964.

It was a bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.27705 before easing back.

Coming up against the first major resistance level at $0.2770, Ripple’s XRP fell back to $0.2710 levels going into the afternoon.

Through the 2nd half of the day, Ripple’s XRP briefly revisited $0.273 levels before sliding to a late intraday low $0.26429.

Steering clear of the first major support level at $0.2606, Ripple’s XRP recovered to $0.269 levels to end the day in the green.

At the time of writing, Ripple’s XRP was down by 0.35% to $0.26869. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.26926 to a low $0.26863.

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

XRP/USD 16/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2703 pivot level to support a run at the first major resistance level at $0.2764.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2750 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.27705 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2831.

Failure to move through the $0.2703 pivot would bring the first major support level at $0.2636 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.26 levels. The second major support level sits at $0.2576.

Looking at the Technical Indicators

First Major Support Level: $0.2636

Pivot Level: $0.2703

First Major Resistance Level: $0.2764

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

The Crypto Daily – Movers and Shakers – November 15th, 2020

Bitcoin, BTC to USD, fell by 1.54% on Saturday. Reversing a 0.08% gain from Friday, Bitcoin ended the day at $16,057.0.

It was a bearish day. Bitcoin slid from an early morning intraday high $16,315.0 to a late afternoon intraday low $15,715.0.

The extended sell-off saw Bitcoin slide through the first major support level at $15,743 and the second major support level at $15,429.

Finding support late in the day Bitcoin broke back through the support levels to wrap up the day at $16,000 levels.

The near-term bullish trend remained intact, supported by the latest move through to $16,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $8,768 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Ripple’s XRP rose by 0.98% to buck the trend on the day.

It was a bearish day for the rest of the majors, however, which joined Bitcoin in the red.

Crypto.com Coin (-3.16%) Litecoin (-3.27%), and Ethereum (-3.35%) led the way down.

Bitcoin Cash ABC (-1.70%), Bitcoin Cash SV (-2.17%), Cardano’s ADA (-2.28%), and Chainlink (-2.29%) also struggled.

Binance Coin (-0.93%) and Polkadot (-0.17%) saw relatively modest losses.

For the current week, the crypto total market cap fell to a Monday low $421.37bn before rising to a Friday high $471.06bn. At the time of writing, the total market cap stood at $455.81bn.

Bitcoin’s dominance fell to a Tuesday low 64.22% before rising to a Friday high 65.99%. At the time of writing, Bitcoin’s dominance stood at 65.10%.

This Morning

At the time of writing, Bitcoin was down by 0.55% to $15,969.0. A mixed start to the day saw Bitcoin rise to an early morning high $16,099.6 before falling to a low $15,925.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.22%), Cardano’s ADA (-0.26%), Chainlink (-0.47%), Crypto.com Coin (-0.89%), Ethereum (-0.06%), and Litecoin (-0.52%) joined Bitcoin in the red.

It was a bullish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP was up by 3.07% to lead the way.

BTC/USD 15/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $16,029 to bring the first major resistance level at $16,343 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $16,315.0.

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

In the event of a crypto breakout, Bitcoin could test resistance at $16,500 before any pullback. The second major resistance level sits at $16,629.

Failure to move back through the $16,029 pivot would bring the first major support level at $15,743 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$15,500 levels. The second major support level sits at $15,429.

The Crypto Daily – Movers and Shakers – November 14th, 2020

Bitcoin, BTC to USD, rose by 0.08% on Friday. Following on from a 3.74% rally on Thursday, Bitcoin ended the day at $16,308.6.

It was a bullish start to the day. Bitcoin rose to an early morning intraday high and new swing hi $16,481.0 before hitting reverse.

Falling short of the first major resistance level at $16,596, Bitcoin slid to a late afternoon intraday low $15,974.0.

Steering clear of the first major support level at $15,725, Bitcoin bounced back to $16,300 levels to end the day in the green.

The near-term bullish trend remained intact, supported by the latest move through to $16,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $8,768 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Bitcoin Cash ABC and Crypto.com Coin fell by 0.05% and by 2.65% respectively to buck the trend on the day.

It was a bullish day for the rest, however, with Litecoin surging by 8.68% to lead the way.

Chainlink (+3.79%), Ethereum (+3.07%), Polkadot (+2.91%), and Ripple’s XRP (+4.31%) also found strong support.

Binance Coin (+1.88%), Bitcoin Cash SV (+1.67%), and Cardano’s ADA (+1.78%) trailed the front runners.

For the current week, the crypto total market cap fell to a Monday low $421.37bn before rising to a Friday high $471.06bn. At the time of writing, the total market cap stood at $465.73bn.

Bitcoin’s dominance fell to a Tuesday low 64.22% before rising to a Friday high 66.00%. At the time of writing, Bitcoin’s dominance stood at 64.6%.

This Morning

At the time of writing, Bitcoin was down by 0.29% to $16,261.0. A mixed start to the day saw Bitcoin rise to an early morning high $16,315.0 before falling to a low $16,207.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.22%), Cardano’s ADA (+0.45%), Polkadot (+0.04%), and Ripple’s XRP (+2.09%) found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Litecoin was down by 1.82% to lead the way down.

BTC/USD 14/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $16,255 to bring the first major resistance level at $16,535 into play.

Support from the broader market would be needed for Bitcoin to break out from Friday’s high $16,481.0.

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

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $16,762 and resistance at $17,000.

Failure to avoid a fall back through the $16,255 pivot would bring the first major support level at $16,028 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$16,000 levels. The second major support level sits at $15,748.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 14th, 2020

Ethereum

Ethereum rallied by 3.07% on Friday. Reversing a 0.17% decline from Thursday, Ethereum ended the day at $477.14.

It was a mixed start to the day. Ethereum fell to a late morning intraday low $457.64 before making a move.

Steering clear of the first major support level at $453.18, Ethereum rallied to a late intraday high $478.31.

Ethereum broke through the first major resistance level at $471.67 to end the day at $477 levels. Resistance at $480 pinned Ethereum back late in the day.

At the time of writing, Ethereum was down by 0.09% to $476.62. A mixed start to the day saw Ethereum rise to an early morning high $478.00 before falling to a low $476.16.

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

ETH/USD 14/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $471.03 to support a run at the first major resistance level at $484.42.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $478.31.

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

In the event of a breakout, Ethereum could test resistance at $490 before any pullback. The second major resistance level sits at $491.70.

Failure to avoid a fall through the $471.03 pivot would bring the first major support level at $463.75 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$460 levels. The second major support level sits at $450.36.

Looking at the Technical Indicators

First Major Support Level: $463.75

Pivot Level: $471.03

First Major Resistance Level: $484.42

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin surged by 8.68% on Friday. Following on from a 2.38% gain on Thursday, Litecoin ended the day at $66.01.

It was also a mixed start to the day. Litecoin fell to an early morning intraday low $60.17 before making a move.

Steering clear of the first major support level at $58.69, Litecoin rallied to an early afternoon intraday high $66.66.

Litecoin broke through the day’s major resistance levels before a pullback to $64 levels. The pullback saw Litecoin briefly fall back through the third major resistance level at $65.95.

A bullish to end the day, however, saw Litecoin wrap up the day at $66 levels.

At the time of writing, Litecoin was down by 0.59% to $65.62. A mixed start to the day saw Litecoin rise to an early morning high $66.34 before falling to a low $65.53.

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

LTC/USD 14/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $64.28 pivot to support a run at the first major resistance level at $68.39.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $66.66.

Barring another 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 $70 before any pullback. The second major resistance level sits at $70.77, with the 38.2% FIB sitting at $71.

Failure to avoid a fall through the $64.28 pivot level would bring the first major support level at $61.90 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$60. The second major support level sits at $57.79.

Looking at the Technical Indicators

First Major Support Level: $61.90

Pivot Level: $64.28

First Major Resistance Level: $68.39

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 4.31% on Friday. Reversing a 0.45% loss from Thursday, Ripple’s XRP ended the day at $0.26598.

It was a choppy start to the day. Ripple’s XRP fell to a mid-morning intraday low $0.25413 before making a move.

Steering clear of the first major support level at $0.2524, Ripple’s XRP rallied to a late intraday high $0.26598.

Ripple’s XRP broke through the first major resistance level at $0.2579 and the second major resistance level at $0.2608.

Coming within range of the third major resistance level at $0.2663, Ripple’s XRP briefly fell back to $0.263 levels.

Finding late support, however, Ripple’s XRP moved back through to $0.265 levels to round off a bullish day.

At the time of writing, Ripple’s XRP was down by 0.52% to $0.26459. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.26750 before falling to a low $0.26459.

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

XRP/USD 14/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2620 pivot level to support a run at the first major resistance level at $0.2699.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.26750.

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 $0.2739.

Failure to avoid a fall through the $0.2620 pivot would bring the first major support level at $0.2581 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.25 levels. The second major support level at $0.2502 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2581

Pivot Level: $0.2620

First Major Resistance Level: $0.2699

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

The Crypto Daily – Movers and Shakers – November 13th, 2020

Bitcoin, BTC to USD, rallied by 3.74% on Thursday. Following on from a 2.60% gain on Wednesday, Bitcoin ended the day at $16,296.2.

It was a bearish start to the day. Bitcoin fell to an early morning intraday low $15,453.0 before making a move.

Steering clear of the first major support level at $15,341, Bitcoin rallied to a late intraday high $16,325.0.

Bitcoin broke through the first major resistance level at $16,030 to wrap up the day at $16,290 levels.

The near-term bullish trend remained intact, supported by the latest move through to $15,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Bitcoin Cash ABC (+0.72%), Bitcoin Cash SV (+0.03%), Crypto.com Coin (+2.29%), and Litecoin (+2.38%) joined Bitcoin in the green to buck the trend on the day.

It was a bearish day for the rest of the majors.

Chainlink and Polkadot slid by 2.99% and by 4.62% respectively to lead the way down.

Binance Coin (-1.19%), Cardano’s ADA (-1.30%), Ethereum (-0.17%), and Ripple’s XRP (-0.45%) also saw red on the day.

For the current week, the crypto total market cap fell to a Monday low $421.37bn before rising to a Thursday high $466.77bn. At the time of writing, the total market cap stood at $495.66bn.

Bitcoin’s dominance fell to a Tuesday low 64.22% before rising to a Thursday high 65.90%. At the time of writing, Bitcoin’s dominance stood at 65.93%.

This Morning

At the time of writing, Bitcoin was up by 0.27% to $16,340.0. A mixed start to the day saw Bitcoin fall to an early morning low $16,266.5 before rising to a high $16,344.0.

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

Elsewhere, it was a mixed start to the day. Binance Coin and Polkadot were down by 0.02% and by 0.45% respectively to buck the trend early on.

It was a relatively bullish start to the day for the rest of the majors, however.

At the time of writing, Litecoin was up by 1.14% to lead the way.

BTC/USD 13/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $16,024.4 to bring the first major resistance level at $16,596 into play.

Support from the broader market would be needed for Bitcoin to break out from the morning high $16,344.0.

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

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $16,895 and resistance at $17,000.

Failure to avoid a fall through the $16,024 pivot would bring the first major support level at $15,725 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$15,500 levels. The second major support level sits at $15,153.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 13th, 2020

Ethereum

Ethereum fell by 0.17% on Thursday. Partially reversing a 2.86% gain from Wednesday, Ethereum ended the day at $462.98.

It was a bearish start to the day. Ethereum fell to an early morning intraday low $452.07 before making a move.

Steering clear of the first major support level at $450.23, Ethereum rallied to a late morning intraday high $470.56

Falling short of the first major resistance level at $477.08, however, Ethereum fell back to $452 levels.

Finding support late in the day, Ethereum revisited $464 levels before falling back into the red.

At the time of writing, Ethereum was down by 0.03% to $462.84. A mixed start to the day saw Ethereum rise to an early morning high $464.62 before falling to a low $462.83.

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

ETH/USD 13/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $461.87 to support a run at the first major resistance level at $471.67.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $470.56.

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

In the event of a breakout, Ethereum could test resistance at $480 before any pullback. The second major resistance level sits at $480.36.

Failure to avoid a fall through the $461.87 pivot would bring the first major support level at $453.18 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $443.38.

Looking at the Technical Indicators

First Major Support Level: $453.18

Pivot Level: $461.87

First Major Resistance Level: $471.67

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 2.38% on Thursday. Following a 2.33% gain on Wednesday, Litecoin ended the day at $60.74.

It was also a bearish start to the day. Litecoin slid to an early morning intraday low $57.70 before making a move.

The sell-off saw Litecoin fall through the first major support level at $57.93 before striking a late morning high $60.56.

Coming within range of the first major resistance level at $60.69, Litecoin fell back to sub-$58 levels.

Finding support at the first major support level, however, Litecoin rallied to a final hour intraday high $60.80.

Litecoin broke through the first major resistance level at $60.69 to end the day at $60.70 levels.

At the time of writing, Litecoin was up by 0.25% to $60.89. A bullish start to the day saw Litecoin rise from an early morning low $60.69 to a high $61.00.

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

LTC/USD 13/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $59.75 pivot to support a run at the first major resistance level at $61.79.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $61.00.

Barring an extended crypto rally, the first major resistance level and resistance at $62 would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $63 before any pullback. The second major resistance level sits at $62.85.

Failure to avoid a fall through the $59.75 pivot level would bring the first major support level at $58.69 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the 23.6% FIB of $54.00. The second major support level at $56.65 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $58.69

Pivot Level: $59.75

First Major Resistance Level: $61.79

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 0.45% on Thursday. Partially reversing a 0.71% gain from Wednesday, Ripple’s XRP ended the day at $0.25499.

Recovering from an early morning low $0.25337, Ripple’s XRP struck a late morning intraday high $0.25829 before hitting reverse.

Falling short of the first major resistance level at $0.2598, Ripple’s XRP slid to a late afternoon intraday low $0.25281.

Finding support at the first major support level at $0.2526, Ripple’s XRP revisited $0.255 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.08% to $0.25479. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25511 before falling to a low $0.25479.

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

XRP/USD 13/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2554 pivot level to support a run at the first major resistance level at $0.2579.

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

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.25829 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2608.

Failure to move through the $0.2554 pivot would bring the first major support level at $0.2524 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.25 levels. The second major support level sits at $0.2499.

Looking at the Technical Indicators

First Major Support Level: $0.2524

Pivot Level: $0.2554

First Major Resistance Level: $0.2579

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

BTC/USD Breaks above 15,600, ETH/USD Travels to 470

BTC/USD

The spiky start was substantially retraced in the next few hours, with the price dropping below 15,370. However, at the end of that transitory downside retracement the buyers took the reins to send Bitcoin’s price way above the past few days’ trading range.

The second big jump of the day happened between 10:00 and 11:00 UTC, sending the pair to 15,600, where a local intraday resistance level had been recently formed. During the next three hours the quote was fluctuating between 15,550 and 15,700. After that the BTC/USD cross rate began edging higher once again, rising above $15,900 after 17:30 UTC.

The trading session of 11th November saw BTC break away from the flag corrective pattern a little earlier than might have been anticipated by the market but perfectly in line with the rising course of the ongoing BTC/USD uptrend that was continued on 24 September after a transitory corrective move that took place on 1st September.

Right now, the market situation is in favour of the BTC/USD uptrend continuation toward $18,000. The path to that handle has no obstructions on its way, and the recently accumulated liquidity during the flag corrective pattern could help the BTC price climb to that price level in one bullish swing.

ETH/USD

On Wednesday, 11th November, the ETH/USD trading pair started off at $450.60 and rose swiftly to $464 in the first hour of the day. The subsequent nine hours did not see the pair lose as much gained progress as was the case with BTC/USD. The pair continued sideways until 16:00 UTC, with the lowest point of 455.9 being reached between 9:00 and 10:00 UTC. Starting at 16:00 UTC, the ETH/USD price began its second prominent surge of the day, rising to 473.5 between 16:00 and 17:00 UTC.

For Ethereum, things are starting to look more promising than earlier this autumn. The pair is starting to show resistance toward Bitcoin’s local dips and more bullish price action of its own. The positive price dynamics in Ether might have been stimulated by the approaching launch of the genesis phase of Ethereum 2.0 and its founder Vitalik Buterin’s recent relocation of 3,200 ETH to the deposit contract of Ethereum 2.0.

From the technical perspective, the situation on the chart proposes that Ether continues its ascension later in the week of 9th November, with the closest pivotal barrier positioned at $488 – the current maximum of this year. With the overall positive price dynamics among the top ranking coins by market cap, we are likely to see ETH/USD test this level already this week. If that happens, some buying volumes are expected to be lost, and sideways dynamics may be the trading course for ETH/USD for a number of trading sessions. However, with the positively perceived launch of Ethereum 2.0, which is to happenen this December, Ethereum will likely go to new tops this year.

Konstantin Anissimov, Executive Director at CEX.IO

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 12th, 2020

Ethereum

Ethereum rallied by 2.86% on Wednesday. Following on from a 1.36% gain on Tuesday, Ethereum ended the day at $463.79.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $449.95 before making a move.

Steering clear of the first major support level at $441.66, Ethereum rallied to a late afternoon intraday high $476.80.

Ethereum broke through the first major resistance level at $457.81 and the second major resistance level at $464.74.

A late pullback, however, saw Ethereum fall back through the second major resistance level to wrap up the day at $463 levels.

At the time of writing, Ethereum was down by 0.47% to $461.59. A mixed start to the day saw Ethereum rise to an early morning high $464.82 before falling to a low $460.03.

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

ETH/USD 12/11/20 Hourly Chart

For the day ahead

Ethereum would need to move back through the pivot level at $463.51 to support a run at the first major resistance level at $477.08.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $476.80.

Barring another extended crypto rally, the first major resistance level and resistance at $480 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $490 before any pullback. The second major resistance level sits at $490.36.

Failure to move back through the $463.51 pivot would bring the first major support level at $450.23 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$450 levels. The second major support level sits at $436.66.

Looking at the Technical Indicators

First Major Support Level: $450.23

Pivot Level: $463.51

First Major Resistance Level: $477.08

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 2.33% on Wednesday. Reversing a 2.23% fall from Tuesday, Litecoin ended the day at $59.34.

It was also a mixed start to the day. Litecoin fell to an early morning intraday low $57.87 before making a move.

Steering clear of the first major support level at $56.85, Litecoin rallied to an early morning high $60.27.

Litecoin broke through the first major resistance level at $59.36 before falling back to sub-$59 levels.

Finding support in the late afternoon, however, Litecoin struck a late afternoon intraday high $60.63.

Litecoin broke back through the first major resistance level to wrap up the day at $59.3 levels.

At the time of writing, Litecoin was down by 1.03% to $58.73. A bearish start to the day saw Litecoin fall from an early morning high $59.40 to a low $58.47.

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

LTC/USD 12/11/20 Hourly Chart

For the day ahead

Litecoin would need to move back through the $59.28 pivot to support a run at the first major resistance level at $60.69.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $60.63.

Barring an extended crypto rally, the first major resistance level and resistance at $61 would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $63 before any pullback. The second major resistance level sits at $62.04.

Failure to move back through the $59.28 pivot level would bring the first major support level at $57.93 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the 23.6% FIB of $54.00. The second major support level at $56.52 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $57.93

Pivot Level: $59.28

First Major Resistance Level: $60.69

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.71% on Wednesday. Following on from a 1.41% gain on Tuesday, Ripple’s XRP ended the day at $0.25612.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.25274 before making a move.

Steering clear of the first major support level at $0.2467, Ripple’s XRP rallied to an early afternoon intraday high $0.2600.

Falling short of the first major resistance level at $0.2631, Ripple’s XRP fell back to $0.255 levels before finding support.

A late move back through to $0.256 levels delivered the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.38% to $0.25514. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25613 to a low $0.25514.

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

XRP/USD 12/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2563 pivot level to support a run at the first major resistance level at $0.2598.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2590 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.2600 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2635.

Failure to move through the $0.2563 pivot would bring the first major support level at $0.2526 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2450 levels. The second major support level at $0.2490 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2426

Pivot Level: $0.2563

First Major Resistance Level: $0.2598

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

The Crypto Daily – Movers and Shakers – November 11th, 2020

Bitcoin, BTC to USD, fell by 0.17% on Tuesday. Following on from a 1.07% decline on Monday, Bitcoin ended the day at $15,311.5.

It was a range-bound start to the day. Bitcoin rose to a late morning intraday high $15,474.0 before hitting reverse.

Falling well short of the first major resistance level at $15,839, Bitcoin slid to a mid-afternoon intraday low $15,077.0.

Steering clear of the first major support level at $14,836, Bitcoin revisited $15,400 levels before easing back into the red.

The near-term bullish trend remained intact, supported by the latest move through to $15,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Bitcoin Cash ABC (-2.49%), Bitcoin Cash SV (-1.94%), Crypto.com Coin (-0.86%), and Litecoin (-2.23%) saw red to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Chainlink rallied by 4.24% to lead the way.

Ethereum (+1.36%), Polkadot (+1.83%), and Ripple’s XRP (+1.41%) also found relatively strong support.

Binance Coin (+0.51%) and Cardano’s ADA (+0.31%) saw modest gains on the day.

For the current week, the crypto total market cap rose to a Monday high $454.30bn before falling to a Monday low $421.37bn. At the time of writing, the total market cap stood at $443.16bn.

Bitcoin’s dominance rose to a Monday high 65.22% before falling to a Tuesday low 64.25%. At the time of writing, Bitcoin’s dominance stood at 64.53%.

This Morning

At the time of writing, Bitcoin was up by 0.83% to $15,438.4. A mixed start to the day saw Bitcoin fall to an early morning low $15,292.0 before rising to a high $15,439.0.

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

Elsewhere, it was a bullish start to the day for the majors.

At the time of writing, Litecoin was up by 3.11% to lead the pack.

BTC/USD 11/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $15,288 to bring the first major resistance level at $15,498 into play.

Support from the broader market would be needed for Bitcoin to break back through to $15,500 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $15,474.0 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $15,685 and resistance at $15,700.

Failure to avoid a fall through the $15,288 pivot would bring the first major support level at $15,101 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$15,000 levels. The second major support level sits at $14,891.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 11th, 2020

Ethereum

Ethereum rose by 1.36% on Tuesday. Partially reversing a 2.16% fall from Monday, Ethereum ended the day at $450.89.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $439.36 before making a move.

Steering clear of the first major support level at $432.43, Ethereum rallied to a late morning intraday high $455.51.

Falling short of the first major resistance level at $458.60 Ethereum fell back to sub-$450 levels.

Finding support in the 2nd half of the day, Ethereum briefly revisited $455 levels before easing back to sub-$451 levels.

At the time of writing, Ethereum was down by 0.12% to $450.33. A mixed start to the day saw Ethereum rise to an early morning high $451.85 before falling to a low $450.11.

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

ETH/USD 11/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $448.59 to support a run at the first major resistance level at $457.81.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $455.51.

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 $464.74.

Failure to avoid a fall through the $448.59 pivot would bring the first major support level at $441.66 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $432.44.

Looking at the Technical Indicators

First Major Support Level: $441.66

Pivot Level: $448.59

First Major Resistance Level: $457.81

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 2.23% on Tuesday. Following on from a 2.85% slide on Monday, Litecoin ended the day a $57.97.

It was also a mixed start to the day. Litecoin rose to an early morning intraday high $59.63 before hitting reverse.

Falling well short of the first major resistance level at $61.60, Litecoin fell to a mid-afternoon intraday low $57.12.

Finding support at the first major support level at $57.17, Litecoin revisited $58 levels before easing back.

At the time of writing, Litecoin was flat at $57.97. A mixed start to the day saw Litecoin rise from an early morning low $57.97 to a high $58.11.

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

LTC/USD 11/11/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $58.24 pivot to support a run at the first major resistance level at $59.36.

Support from the broader market would be needed, however, for Litecoin to break back through to $59 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $60 would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $61 before any pullback. The second major resistance level sits at $60.75.

Failure to move through the $58.24 pivot level would bring the first major support level at $56.85 into play.

Barring another extended sell-off on the day, however, Litecoin should steer well clear of the 23.6% FIB of $54.00. The second major support level at $55.73 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $56.85

Pivot Level: $58.24

First Major Resistance Level: $59.36

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 1.41% on Tuesday. Reversing a 1.23% fall from Monday, Ripple’s XRP ended the day at $0.25409.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24823 before making a move.

Steering clear of the first major support level at $0.2456, Ripple’s XRP rallied to a late morning intraday high $0.26462.

Ripple’s XRP broke through the first major resistance level at $0.2558 and the second major resistance level at $0.2610.

A late morning reversal, however, saw Ripple’s XRP slide back to $0.256 levels going into the afternoon.

In the 2nd half of the day, Ripple’s XRP broke back through the first major resistance level before ending the day at $0.254 levels.

At the time of writing, Ripple’s XRP was down by 0.37% to $0.25314. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25451 before falling to a low $0.25274.

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

XRP/USD 11/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2556 pivot level to support a run at the first major resistance level at $0.2631.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.26 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.26462 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2720.

Failure to move through the $0.2556 pivot would bring the first major support level at $0.2467 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level sits at $0.2393.

Looking at the Technical Indicators

First Major Support Level: $0.2467

Pivot Level: $0.2556

First Major Resistance Level: $0.2631

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

ETHUSD Analysis – The Ethereum 2.0 Dilemma

So far the deposit contract address on a popular transaction scanner shows that only 50,401 Eth worth of $22,787,804.13, 3200 ETH of which belong to the Founder Vitalik Buterin are staked, that is more than 10x lower than the required 524,288ETH.

The delay in the Launch of the PoS due to the insufficient deposit may hit the Eth token value as such happened before when Ethereum was postponing major updates. There are several other reasons why Ethereum holders are not rushing to stake their tokens, first of which is the soar of Ethereum price during the past weeks, the other reason is the growing number of DeFi projects and according to the popular metrics 8.5M of Eth is locked in DeFi.

Investors and traders are still looking to make the best out of the trading of this token against the US Dollar as ETH/USD shows signs of new highs.

Ethereum price on Overbit

As seen on the chart, ETH/USD has formed a symmetrical triangle pattern. As a general rule, one should follow the price action of the pair and wait for a breakout from either threshold of the triangle. Since, the price currently is holding near the upper threshold, breakout could be confirmed anytime soon.

Ethereum price on Overbit

Ethereum’s price surge was not mainly supported by the Eth 2.0 transition, although it played a significant role, but was rather backed by the weakening US Dollar and uncertainties in the market followed by the US Presidential Elections. The election is still not over and the tension still remains, especially over Biden’s stimulus plans and Trump’s lawsuits, hence the price of Ethereum might as well continue to grow.

Although postponement of the chain release might as well have a negative impact on Ethereum. Key level to watch if the breakout from the ascending channel is confirmed is $477-$500, if the price breaks the lower threshold of the triangle, the price might as well drop to $431 and below that to $416.

The Crypto Daily – The Movers and Shakers – November 10th, 2020

Bitcoin, BTC to USD, fell by 1.07% on Monday. Partially reversing a 4.38% rally from Sunday, Bitcoin ended the day at $15,334.5.

It was a mixed start to the day. Bitcoin fell to a late morning low $15,182 before making a move.

Steering clear of the first major support level at $14,953, Bitcoin rallied to a late morning intraday high $15,844.0.

Coming up against the first major resistance level at $15,848, Bitcoin slid to a late afternoon intraday low $14,841.0.

Bitcoin fell through the first major support level at $14,953 before a partial recovery to $15,300 levels.

The near-term bullish trend remained intact, supported by the latest move through to $15,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Monday.

Polkadot bucked the trend at the start of the week, with a 0.44% gain.

It was a bearish day for the rest of the majors.

Bitcoin Cash SV and Crypto.com Coin slid by 5.03% and by 4.50% to lead the way down.

Bitcoin Cash ABC (-3.38%), Ethereum (-2.16%), and Litecoin (-2.85%) also struggled.

Binance Coin (-1.26%), Cardano’s ADA (-0.87%), Chainlink (-1.69%), and Ripple’s XRP (-1.23%) saw relatively modest losses on the day.

For the week, the crypto total market cap rose to a Monday high $449.53bn before falling to a Monday low $423.81bn. At the time of writing, the total market cap stood at $443.58bn.

Bitcoin’s dominance rose to a Monday high 65.22% before falling to a low 64.70%. At the time of writing, Bitcoin’s dominance stood at 64.87%.

This Morning

At the time of writing, Bitcoin was down by 0.26% to $15,294.7. A mixed start to the day saw Bitcoin rise to an early morning high $15,350.0 before falling to a low $15,181.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (+0.15%), Chainlink (+1.00%), Crypto.com Coin (+1.29%), Ethereum (+0.46%), and Litecoin (+0.19%) found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Binance Coin was down by 0.38% to lead the way down.

BTC/USD 10/11/20 Hourly Chart

 

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $15,340 to bring the first major resistance level at $15,839 into play.

Support from the broader market would be needed for Bitcoin to break back through to $15,800 levels.

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

In the event of a crypto breakout, Bitcoin could test resistance at $16,000 before any pullback. The second major resistance level sits at $16,343.

Failure to move back through the $15,340 pivot would bring the first major support level at $14,836 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$14,500 levels. The second major support level sits at $14,337.

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

Bitcoin and Ethereum – Weekly Technical Analysis – November 9th, 2020

Bitcoin

Bitcoin rallied by 12.69% in the week ending 8th November. Following on from a 5.52% gain from the week prior, Bitcoin ended the week at $15,500.0.

It was a bearish start to the week. Bitcoin fell to a Monday intraweek low $13,207.0 before making a move.

Steering clear of the first major support level at $13,006, Bitcoin rallied to a Friday intraweek high $15,888.0.

Bitcoin broke through the first major resistance level at $14,280 and the second major resistance level at $14,805.

Falling short of $16,000 levels, Bitcoin slid back to sub-$14,500 levels on Saturday before a bullish end to the week.

A Sunday recovery saw Bitcoin break back through the second major resistance level to wrap up the week at $15,500 levels.

5 days in the green that included a 10.03% rally on Friday and a 4.41% rally on Sunday delivered the upside for the week. A 4.67% slide on Saturday limited some up the upside for the week, however.

For the week ahead

Bitcoin would need to avoid a fall through the $14,865 pivot to support a run the first major resistance level at $16,523.

Support from the broader market would be needed for Bitcoin to break out from last week’s $15,888.0 high.

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

In the event of another breakout, Bitcoin could test resistance at $17,000 before any pullback. The second major resistance level sits at $17,546.

Failure to avoid a fall through the $14,865 pivot would bring the first major support level at $13,842 into play.

Barring an extended sell-off, however, Bitcoin should steer clear of sub-$13,500 support levels. The second major support level sits at $12,184.

At the time of writing, Bitcoin was up by 0.11% to $15,517.0. A mixed start to the week saw Bitcoin fall to an early Monday morning low $15,424.0 before striking a high $15,608.0.

Bitcoin left the major support and resistance levels untested at the start of the week.

BTC/USD 09/11/20 Daily Chart

Ethereum

Ethereum surged by 14.54% in the week ending 8th November. Reversing a 2.32% fall from the previous week, Ethereum ended the week at $454.61.

It was a bearish start to the week. Ethereum fell to a Tuesday intraweek low $370.50 before making a move.

The pullback saw Ethereum fall through the first major support level at $376.00.

Steering clear of the 38.2% FIB of $367, Ethereum rallied to a Saturday intraweek high $468.98.

Ethereum broke through the first major resistance level at $415 and the second major resistance level at $432.

Falling short of the third major resistance level at $471, Ethereum eased back to wrap up the week at $454 levels.

5-days in the green that included a 9.46% jump on Friday and a 4.30% rally on Sunday delivered the upside for the week. A 3.42% fall on Monday and a 4.55% slide on Saturday reversed some of the gains, however.

For the week ahead

Ethereum would need to avoid a fall through the $431 pivot level to support a run at the first major resistance level at $492.

Support from the broader market would be needed, however, for Ethereum to break out from last week’s $468.98 high.

Barring another extended crypto rally, the first major resistance level and resistance at $500 would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $530 before any pullback. The 62% FIB of $543 would likely cap any upside, however.

Failure to avoid a fall through the $431 pivot would bring the first major support level at $394 into play.

Barring an extended crypto market sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level sits at $333.

At the time of writing, Ethereum was up by 0.19% to $455.48. A mixed start to the week saw Ethereum fall to an early Monday morning low $451.59 before rising to a high $458.40.

Ethereum left the major support and resistance levels untested at the start of the week.

ETH/USD 09/11/20 Daily Chart