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

The Crypto Daily – Movers and Shakers – November 9th, 2020

Bitcoin, BTC to USD, rallied by 4.38% on Sunday. Reversing a 4.67% slide from Saturday, Bitcoin ended the week up by 12.69% to $15,500.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $14,755 before making a move.

Steering clear of the first major support level at $14,257, Bitcoin rallied to a late afternoon intraday high $15,650.0.

Bitcoin broke through the first major resistance level at $15,586 before falling back to $15,200 levels.

Finding late support, however, Bitcoin recovered to close out the week at $15,500 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 Sunday.

Crypto.com Coin and Polkadot fell by 5.30% and by 1.09% respectively to buck the trend on the day.

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

Bitcoin Cash ABC (+7.17%) and Chainlink (+8.25%) led the way.

Bitcoin Cash SV (+4.20%), Cardano’s ADA (+5.22%), Ethereum (+4.30%), and Litecoin (+3.43%) also found strong support.

Binance Coin (+2.37%) and Ripple’s XRP (+1.79%) trailed the front runners.

For the week, it was also a mixed bag for the crypto majors.

Crypto.com Coin and Polkadot slid by 14.27% and by 8.02% respectively, with Binance Coin down by 0.35%.

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

Ethereum (+14.54%), Cardano’s ADA (+8.46%), Chainlink (+9.84%), Litecoin (+9.56%) led the way.

Bitcoin Cash ABC (+0.77%), Bitcoin Cash SV (+2.22%), and Ripple’s XPR (+5.44%) trailed the front runners in the week.

For the week, the crypto total market cap fell to a Tuesday low $379.41bn before hitting a Friday high $456.16bn. At the time of writing, the total market cap stood at $443.58bn.

Bitcoin’s dominance fell to a Monday low 63.16% before rising to a Friday high 66.51%. At the time of writing, Bitcoin’s dominance stood at 65.04%.

This Morning

At the time of writing, Bitcoin was up by 0.54% to $15,583.0. A mixed start to the day saw Bitcoin fall to an early morning low $15,424.0 before striking a high $15,600.0.

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

Elsewhere, it was a mixed start to the day. Bitcoin Cash SV was down by 0.83% to buck the trend early on.

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

At the time of writing, Crypto.com Coin was up by 2.32% to lead the way.

BTC/USD 09/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $15,302 to bring the first major resistance level at $15,848 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $15,650.0.

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 $16,000 before any pullback. The second major resistance level sits at $16,197.

Failure to avoid a fall through the $15,302 pivot would bring the first major support level at $14,953 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of the second major support level at $14,407.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 9th, 2020

Ethereum

Ethereum rallied by 4.30% on Sunday. Reversing a 4.56% slide from Saturday, Ethereum ended the week up by 14.54% to $454.61.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $432.65 before making a move.

Steering clear of the first major support level at $416.24, Ethereum rallied to a late afternoon intraday high $460.57.

Falling short of the first major resistance level at $462.22, Ethereum fell back to sub-$450 levels before wrapping up the week at $454 levels.

At the time of writing, Ethereum was down by 0.02% to $454.51. A mixed start to the day saw Ethereum rise to an early morning high $456.20 before falling to a low $453.62

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

ETH/USD 09/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $449.28 to support a run at the first major resistance level at $465.90.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $460.57.

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 $480 before any pullback. The second major resistance level sits at $477.20.

Failure to avoid a fall through the $449.28 pivot would bring the first major support level at $437.98 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$430 levels. The second major support level sits at $421.36.

Looking at the Technical Indicators

First Major Support Level: $437.98

Pivot Level: $449.28

First Major Resistance Level: $465.90

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 3.43% on Sunday. Partially reversing a 6.96% slide from Saturday, Litecoin ended the week up by 9.56% to $60.99.

It was also a mixed start to the day. Litecoin fell to an early morning intraday low $58.68 before making a move.

Steering clear of the first major support level at $55.66, Litecoin rallied to a mid-afternoon intraday high $62.07.

Falling short of the first major resistance level at $63.55, Litecoin eased back to wrap up the week at sub-$61 levels.

At the time of writing, Litecoin was down by 0.13% to $60.91. A mixed start to the day saw Litecoin rise to an early morning high $61.26 before falling to a low $60.91.

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

LTC/USD 09/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $60.58 pivot to support a run at the first major resistance level at $62.48.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $62.07.

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 the second major resistance level at $63.98.

Failure to avoid a fall through the $60.58 pivot level would bring the first major support level at $59.08 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $57.18.

Looking at the Technical Indicators

First Major Support Level: $59.08

Pivot Level: $60.58

First Major Resistance Level: $62.48

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 1.79% on Sunday. Partially reversing a 3.71% slide from Saturday, Ripple’s XRP ended the week up by 5.44% to $0.25369.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24784 before making a move.

Steering clear of the first major support level at $0.2399, Ripple’s XRP rallied to a late afternoon intraday high $0.25722.

Falling short of the first major resistance level at $0.2631, Ripple’s XRP eased back to end the week at sub-$0.254 levels.

At the time of writing, Ripple’s XRP was flat at $0.25370. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.25369 to a high $0.25459 before easing back.

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

XRP/USD 09/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2529 pivot level to support a run at the first major resistance level at $0.2580.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.25722.

Barring an extended crypto rally, the first major resistance level and resistance at $0.26 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2623. Resistance at $0.27 would likely limit any upside, however. The third major resistance level sits at $0.2717.

Failure to avoid a fall through the $0.2529 pivot would bring the first major support level at $0.2486 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 $0.2435 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2486

Pivot Level: $0.2529

First Major Resistance Level: $0.2580

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 8th, 2020

Bitcoin, BTC to USD, slid by 4.67% on Saturday. Reversing a 0.03% gain from Friday, Bitcoin ended the day at $14,845.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $15,740.0 before hitting reverse.

Falling sort of the first major resistance level at $15,914, Bitcoin slid to a late intraday low $14,411.0.

The sell-off saw Bitcoin fall through the first major support level at $15,205 and the second major support level at $14,838.

Finding late support, Bitcoin broke back through the second major support level to wrap up the day at $14,840 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 bearish day on Saturday.

Cardano’s ADA (-7.31%), Crypto.com Coin (-6.45%), and Litecoin (-6.96%) led the way down.

Binance Coin (-4.51%), Bitcoin Cash SV (-4.31%), Chainlink (-3.56%), Ethereum (-4.56%), Polkadot (-3.03%), and Ripple’s XRP (-3.71) also struggled.

Bitcoin Cash ABC fell by a relatively modest 1.25% on the day.

For the current week, the crypto total market cap fell to a Tuesday low $379.41bn before hitting a Friday high $456.16bn. At the time of writing, the total market cap stood at $421.96bn.

Bitcoin’s dominance fell to a Monday low 63.16% before rising to a Friday high 66.51%. At the time of writing, Bitcoin’s dominance stood at 64.80%.

This Morning

At the time of writing, Bitcoin was down by 0.49% to $14,771.7. A bearish start to the day saw Bitcoin fall from an early morning high $14,849.0 to a low $14,765.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.79%) and Litecoin (+0.12%) found early support to buck the trend.

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

At the time of writing, Chainlink was down by 1.70% to lead the way down.

BTC/USD 08/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $14,999 to bring the first major resistance level at $15,586 into play.

Support from the broader market would be needed for Bitcoin to break back through to $15,000 levels.

Barring an extended crypto rally, however, Bitcoin would likely fall well short of $15,500 levels and the first major resistance level.

In the event of a crypto breakout, Bitcoin could revisit Saturday’s high $15,740.0. The second major resistance level sits at $16,328.

Failure to move through the $14,999 pivot would bring the first major support level at $14,257 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$14,000 levels. The second major support level sits at $13,670.

The Crypto Daily – Movers and Shakers – November 7th, 2020

Bitcoin, BTC to USD, rose by 0.03% on Friday. Consolidating Thursday’s 10.01% breakout, Bitcoin ended the day at $15,572.9.

It was a mixed start to the day. Bitcoin rallied to an early morning intraday high $15,888.0 before hitting reverse.

Falling sort of the first major resistance level at $16,160, Bitcoin slid to a late intraday low $15,179.0.

Steering well clear of the first major support level at $14,540, Bitcoin bounced back to $15,600 levels before easing back to sub-$16,000 levels. A final hour move reversed the losses from earlier in the day.

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 Friday.

Crypto.com Coin fell by 1.27% to buck the trend on the day.

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

Cardano’s ADA and Chainlink surged by 12.11% and by 10.78% respectively to lead the way

Ethereum (+9.43%), Litecoin (+7.23%), Polkadot (+8.53%), and Ripple’s XRP (5.12%) also found strong support.

Binance Coin (+4.97%), Bitcoin Cash ABC (+2.38%), and Bitcoin Cash SV (+3.25%), trailed the front runners.

For the current week, the crypto total market cap fell to a Tuesday low $379.41bn before hitting a Friday high $456.16bn. At the time of writing, the total market cap stood at $447.23bn.

Bitcoin’s dominance fell to a Monday low 63.16% before rising to a Friday high 66.51%. At the time of writing, Bitcoin’s dominance stood at 64.87%.

This Morning

At the time of writing, Bitcoin was up by 0.24% to $15,610.0. A mixed start to the day saw Bitcoin fall to an early morning low $15,534.0 before rising to a high $15,655.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Bitcoin Cash ABC (+1.66%), Chainlink (1.93%), and Ethereum (+1.46%) led the way.

BTC/USD 07/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $15,547 to bring the first major resistance level at $15,914 into play.

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

Barring an extended crypto rally, the first major resistance level and resistance at $16,000 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $16,256 and resistance at $16,500.

Failure to avoid a fall through the $15,547 pivot would bring the first major support level at $15,205 into play.

Barring an extended crypto sell-off, Bitcoin should continue to steer clear of sub-$15,000 levels. The second major support level sits at $14,838.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 7th, 2020

Ethereum

Ethereum surged by 9.43% on Friday. Following on from a 3.47% rally on Thursday, Ethereum ended the day at $456.65.

It was a particularly bullish day. Ethereum rallied from an early morning intraday low $415.57 to a final hour intraday high $458.92.

Ethereum broke through the first major resistance level at $426.80 and the second major resistance level at $436.44.

It was the first closeout at $450 levels since September.

At the time of writing, Ethereum was up by 0.07% to $456.95. A mixed start to the day saw Ethereum fall to an early morning low $455.63 before striking a high $456.99.

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

ETH/USD 07/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $443.71 to support a run at the first major resistance level at $471.86.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $458.92.

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

In the event of a further breakout, Ethereum could test resistance at $490 before any pullback. The second major resistance level sits at $487.06.

Failure to avoid a fall through the $443.71 pivot would bring the first major support level at $428.51 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$420 levels. The second major support level sits at $400.36.

Looking at the Technical Indicators

First Major Support Level: $428.51

Pivot Level: $443.71

First Major Resistance Level: $471.86

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rallied by 7.23% on Friday. Following on from a 7.80% surged on Thursday, Litecoin ended the day at $63.29.

It was a bullish start to the day. Litecoin rallied from an early morning intraday low $58.73 to a late morning high $63.20.

Litecoin broke through the first major resistance level at $60.98 and the second major resistance level at $62.93.

A late pullback saw Litecoin fall back to sub-$60 levels before striking a final hour intraday high $63.74.

Litecoin broke back through the first major resistance level and the second major resistance level to wrap up the day at $63 levels.

At the time of writing, Litecoin was up by 1.03% to $63.94. A bullish start to the day saw Litecoin rise from an early morning low $63.35 to a high $64.00.

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

LTC/USD 07/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $61.92 pivot to support a run at the first major resistance level at $65.11.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $64.00.

Barring an 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 $66.93.

Failure to avoid a fall through the $61.92 pivot level would bring the first major support level at $60.10 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $56.91.

Looking at the Technical Indicators

First Major Support Level: $60.10

Pivot Level: $61.92

First Major Resistance Level: $65.11

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 5.12% on Friday. Following on from a 3.17% gain on Thursday, Ripple’s XRP ended the day at $0.25864.

It was also a bullish start to the day. Ripple’s XRP rallied from an early morning intraday low $0.24554 to an early afternoon intraday high $0.26194.

The rally saw Ripple’s XRP break through the first major resistance level at $0.2499 and the second major resistance level at $0.2538.

Falling short of the third major resistance level at $0.2641, Ripple’s XRP slid back to sub-$0.2510 levels.

A final hour rally, however, saw Ripple’s XRP break back through the second major resistance level to wrap up the day at $0.258 levels. Resistance at $0.26 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.72% to $0.26051. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25880 to a high $0.26099.

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

XRP/USD 07/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2554 pivot level to support a run at the first major resistance level at $0.2652.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.26194.

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 $0.2718 and resistance at $0.28 before any pullback. The third major resistance level sits at $0.2882.

Failure to avoid a fall through the $0.2554 pivot would bring the first major support level at $0.2488 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 $0.2390.

Looking at the Technical Indicators

First Major Support Level: $0.2488

Pivot Level: $0.2554

First Major Resistance Level: $0.2652

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 6th, 2020

Bitcoin, BTC to USD, surged by 10.01% on Thursday. Following on from a 0.85% gain on Wednesday, Bitcoin ended the day at $15,568.

It was a particularly bullish day. Bitcoin rallied from an early morning intraday low $14,104.4 to a late intraday high $15,732.6.

Bitcoin broke through the day’s major resistance levels to wrap up the day at $15,000 levels for the first time since January 2018.

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.

Polkadot slid by 6.37% to buck the trend on the day.

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

Litecoin rallied by 7.8% to lead the way, with Bitcoin Cash SV (+7.34%) and Chainlink (+4.97%) also seeing slid gains.

Binance Coin (+2.71%), Bitcoin Cash ABC (+5.37%), Cardano’s ADA (+2.04%), Crypto.com Coin (+2.61%), Ethereum (+3.47%), and Ripple’s XRP (+3.17%) trailed the front runners.

For the current week, the crypto total market cap fell to a Tuesday low $379.61bn before hitting a Thursday high $444.85bn. At the time of writing, the total market cap stood at $441.87bn.

Bitcoin’s dominance fell to a Monday low 63.16% before rising to a Friday high 66.53%. At the time of writing, Bitcoin’s dominance stood at 66.42%.

This Morning

At the time of writing, Bitcoin was up by 0.61% to $15,663.0. A mixed start to the day saw Bitcoin fall to an early morning low $15,366.0 before rising to a high $15.692.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Litecoin was up by 3.98% to lead the way early on.

BTC/USD 06/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $15,132 to bring the first major resistance level at $16,160 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $15,723.6.

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 $16,751.

Failure to avoid a fall through the $15,132 pivot would bring the first major support level at $14,540 into play.

Barring an extended crypto sell-off, Bitcoin should continue to steer clear of sub-$14,500 levels. The second major support level sits at $13,513.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 6th, 2020

Ethereum

Ethereum rallied by 3.47% on Thursday. Following on from a 3.82% gain on Wednesday, Ethereum ended the day at $417.17.

It was a bearish start to the day. Ethereum fell from an early morning high $407.27 to a late morning intraday low $396.43.

Steering clear of the first major support level at $383.55, Ethereum rallied to a late intraday high $421.25.

Ethereum broke through the first major resistance level at $415.91 to wrap up the day at $417 levels.

At the time of writing, Ethereum was up by 0.05% to $417.36. A mixed start to the day saw Ethereum rise to an early morning high $418.29 before falling to a low $417.36.

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

ETH/USD 06/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $411.62 to support a run at the first major resistance level at $426.80.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $421.25.

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

In the event of a further breakout, Ethereum could test resistance at $430 before any pullback. The second major resistance level sits at $436.44.

Failure to avoid a fall through the $411.62 pivot would bring the first major support level at $401.98 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level sits at $386.80.

Looking at the Technical Indicators

First Major Support Level: $401.98

Pivot Level: $411.62

First Major Resistance Level: $426.80

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin surged by 7.80% on Thursday. Following on from a 1.31% gain on Wednesday, Litecoin ended the day at $59.04.

A mixed start to the day saw Litecoin fall to a late morning intraday low $54.71 before making a move.

Steering clear of the first major support level at $52.49, Litecoin rallied to a late afternoon intraday high $59.79.

Litecoin broke through the first major resistance level at $56.18 and the second major resistance level at $57.60.

A late pullback saw Litecoin fall to sub-$58 levels before wrapping up the day at $59 levels.

Resistance at $60 pinned Litecoin back late in the day.

At the time of writing, Litecoin was down by 0.22% to $58.91. A mixed start to the day saw Litecoin rise to an early morning high $59.18 before falling to a low $58.73.

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

LTC/USD 06/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $57.85 pivot to support a run at the first major resistance level at $60.98.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $59.79.

Barring an 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 $62.93.

Failure to avoid a fall through the $57.85 pivot level would bring the first major support level at $55.90 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the 23.6% FIB of $54.00. The second major support level sits at $52.77.

Looking at the Technical Indicators

First Major Support Level: $55.90

Pivot Level: $57.85

First Major Resistance Level: $60.98

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 3.17% on Thursday. Reversing a 0.76% fall from Wednesday, Ripple’s XRP ended the day at $0.24602.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning high $0.24121 before hitting reverse.

Coming within range of the first major resistance level at $0.2414, Ripple’s XRP slid to a mid-day intraday low $0.2373.

Steering clear of the first major support level at $0.2335, Ripple’s XRP rallied to a late afternoon intraday high $0.24752.

Ripple’s XRP broke through the first major resistance level at $0.2414 and the second major resistance level at $0.2449.

Late in the day, Ripple’s XRP briefly fell back to sub-$0.2430 levels before wrapping up the day at $0.246 levels.

At the time of writing, Ripple’s XRP was down by 0.08% to $0.24582. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24609 to a low $0.24554.

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

XRP/USD 06/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2436 pivot level to support a run at the first major resistance level at $0.2499.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.24752.

Barring an extended crypto rally, the first major resistance level and resistance at $0.25 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2538 before any pullback.

Failure to avoid a fall through the $0.2436 pivot would bring the first major support level at $0.2397 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2350 levels and the second major support level at $0.2334.

Looking at the Technical Indicators

First Major Support Level: $0.2397

Pivot Level: $0.2436

First Major Resistance Level: $0.2499

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 5th, 2020

Ethereum

Ethereum rallied by 3.82% on Wednesday. Following on from a 1.30% gain on Tuesday, Ethereum ended the day at $403.18.

It was a bearish start to the day. Ethereum fell from an early morning high $388.69 to a late morning intraday low $376.64.

Steering clear of the first major support level at $375.83, Ethereum rallied to a late afternoon intraday high $409.00.

Ethereum broke through the first major resistance level at $395.58 and the second major resistance level at $402.84.

Coming up against resistance at $410, Ethereum slipped back to sub-$400 levels before wrapping up the day at $403 levels.

The second major resistance level pinned Ethereum back late in the day.

At the time of writing, Ethereum was up by 0.60% to $405.59. A bullish start to the day saw Ethereum rise from an early morning low $403.19 to a high $405.78.

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

ETH/USD 05/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $396.27 to support a run at the first major resistance level at $415.91.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $409.00.

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

In the event of a further breakout, Ethereum could test resistance at $420 before any pullback. The second major resistance level sits at $428.63.

Failure to avoid a fall through the $396.27 pivot would bring the first major support level at $383.55 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$380 levels. The second major support level sits at $363.91.

Looking at the Technical Indicators

First Major Support Level: $383.55

Pivot Level: $396.27

First Major Resistance Level: $415.91

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 1.31% on Wednesday. Following on from a 0.26% gain from Tuesday, Litecoin ended the day at $54.75.

A bullish start to the day saw Litecoin strike an early morning high $54.53 before hitting reverse.

Falling short of the first major resistance level at $55.20, Litecoin fell to an early afternoon intraday low $51.65.

Litecoin fell through the 23.6% FIB of $54 and the first major support level at $52.05 before finding support.

A late afternoon rally saw Litecoin strike an intraday high $55.34 before easing back to sub-$55 levels.

The first major resistance level at $55.20 pinned Litecoin back on the day.

At the time of writing, Litecoin was up by 0.58% to $55.07. A bullish start to the day saw Litecoin rise from an early morning low $54.77 to a high $55.20.

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

LTC/USD 05/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the 23.6% FIB of $54 and the $53.91 pivot to support a run at the first major resistance level at $56.18.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $55.34.

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 $57 before any pullback. The second major resistance level sits at $57.60.

Failure to avoid a fall through the 23.6% FIB and the $53.91 pivot level would bring the first major support level at $52.49 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.22 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $52.49

Pivot Level: $53.91

First Major Resistance Level: $56.18

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 0.76% on Wednesday. Partially reversing a 1.71% gain from Tuesday, Ripple’s XRP ended the day at $0.2379.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning high $0.24052 before hitting reverse.

Falling short of the first major resistance level at $0.2463, Ripple’s XRP slid to a late morning intraday low $0.23267.

Steering clear of the first major support level at $0.2305, Ripple’s XRP briefly revisited $0.239 levels before easing back into the red.

At the time of writing, Ripple’s XRP was up by 0.22% to $0.23843. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.23855 before falling to a low $0.23819.

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

XRP/USD 05/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2370 pivot level to support a run at the first major resistance level at $0.2414.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.24052 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2449 before any pullback.

Failure to avoid a fall through the $0.2370 pivot would bring the first major support level at $0.2335 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2292.

Looking at the Technical Indicators

First Major Support Level: $0.2335

Pivot Level: $0.2370

First Major Resistance Level: $0.2414

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 – The Movers and Shakers – November 4th, 2020

Bitcoin, BTC to USD, rallied by 3.46% on Tuesday. Reversing a 1.40% decline from Monday, Bitcoin ended the day at $14,029.6.

It was a mixed start to the day. Bitcoin rose to an early morning high $13,640.0 before hitting reverse.

Falling short of the first major resistance level at $13,895, Bitcoin slid to an early morning intraday low $13,301.0

Steering clear of the first major support level at $13,234, Bitcoin rallied to a final hour intraday high $14,066.0.

Bitcoin broke through the first major resistance level at $13,863 to wrap up the day at $14,000 levels.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 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.

Binance Coin (-3.32%), Bitcoin Cash ABC (-5.05%), Bitcoin Cash SV (-3.51%), Chainlink (-3.32%), Crypto.com Coin (-4.78%), and Polkadot (-3.19%) saw red on the day.

It was a relatively bullish day for the rest of the majors that joined Bitcoin in the green.

Cardano’s ADA (+1.55%), Ethereum (+1.30%), Litecoin (+0.26%), and Ripple’s XRP (+1.71%) found support on the day.

For the current week, the crypto total market cap fell to a Tuesday low $379.53bn before hitting a Tuesday high $407.51bn. At the time of writing, the total market cap stood at $398.38bn.

Bitcoin’s dominance fell to a Monday low 63.22% before rising to a Tuesday high 64.91%. At the time of writing, Bitcoin’s dominance stood at 64.79%.

This Morning

At the time of writing, Bitcoin was down by 0.65% to $13,938.6. A mixed start to the day saw Bitcoin rise to an early morning high $14,051.9 before falling to a low $13,903.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin and Polkadot bucked the trend early on, with gains of 1.16% and 0.17% respectively.

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

At the time of writing, Chainlink was down by 1.00% to lead the way down.

BTC/USD 04/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,799 to bring the first major resistance level at $14,297 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s $14,066.0 high.

Barring an extended crypto rally, the first major resistance level and resistance at $14,300 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,500 before any pullback. The second major resistance level sits at $14,564.

Failure to avoid a fall through the $13,799 pivot would bring the first major support level at $13,532 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$13,500 levels. The second major support level sits at $13,034.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 4th, 2020

Ethereum

Ethereum rose by 1.30% on Tuesday. Partially reversing a 3.42% slide from Monday, Ethereum ended the day at $388.32.

It was a mixed start to the day. Ethereum rose to an early morning high $385.68 before hitting reverse.

Falling short of the first major resistance level at $399.15, Ethereum slid to an early morning intraday low $370.50.

The sell-off saw Ethereum fall through the first major support level at $372.94. Finding support at $370, Ethereum rallied to a late intraday high $390.35 before easing back.

In spite of the rally, Ethereum came up short of the first major resistance level at $399.15.

At the time of writing, Ethereum was down by 0.18% to $387.64. A mixed start to the day saw Ethereum rise to an early morning high $388.69 before falling to a low $387.35.

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

ETH/USD 04/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $383.09 to support a run at the first major resistance level at $395.58.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $390.35.

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

In the event of a further breakout, Ethereum could test resistance at $400 before any pullback. The third major resistance level sits at $402.84.

Failure to avoid a fall through the $383.09 pivot would bring the first major support level at $375.83 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $363.34. The 38.2% FIB of $367 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $375.83

Pivot Level: $383.09

First Major Resistance Level: $395.58

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 0.26 on Tuesday. Following a 3.18% slide on Monday, Litecoin ended the day at $54.02.

A bullish start to the day saw Litecoin strike an early morning intraday high $54.40 before hitting reverse.

While falling short of the first major resistance level at $56.13, Litecoin broke through the 23.6% FIB of $54.00.

The reversal, however, saw Litecoin slide to an early morning intraday low $51.25.

Litecoin fell through 23.6% FIB and the first major support level at $52.40 before a recovery to $54 levels.

The recovery saw Litecoin break back through the first major support level and the 23.6% FIB.

At the time of writing, Litecoin was up by 0.56% to $54.32. A bullish start to the day saw Litecoin rise from an early morning low $54.02 to a high $54.53.

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

LTC/USD 04/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $53.22 pivot to support a run at the first major resistance level at $55.20.

Support from the broader market would be needed, however, for Litecoin to break back through to $55 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 $57 before any pullback. The second major resistance level sits at $56.37.

Failure to avoid a fall through the $53.22 pivot level would bring the first major support level at $52.05 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.07 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $52.05

Pivot Level: $53.22

First Major Resistance Level: $55.20

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 1.71% on Tuesday. Partially reversing a 2.12% fall from Monday, Ripple’s XRP ended the day at $0.23948.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning high $0.23675 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP slid to an early morning intraday low $0.22838.

Ripple’s XRP fell through the first major support level at $0.2307 before bouncing back to a late morning intraday high $0.24420.

The late morning rally saw Ripple’s XRP break through the first major resistance level at $0.2426 before easing back.

Ripple’s XRP fell back to sub-$0.2360 levels before finding late support to wrap up the day at $0.239 levels.

At the time of writing, Ripple’s XRP was up by 0.39% to $0.24041. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23972 to a high $0.24052.

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

XRP/USD 04/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2374 pivot level to support a run at the first major resistance level at $0.2463.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.2442.

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 resistance at $0.25 before any pullback. The third major resistance level sits at $0.2532.

Failure to avoid a fall through the $0.2374 pivot would bring the first major support level at $0.2305 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.22 support levels. The second major support level at $0.22215 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2305

Pivot Level: $0.2374

First Major Resistance Level: $0.2463

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 3rd, 2020

Ethereum

Ethereum slid by 3.42% on Monday. Reversing a 2.63% gain from Sunday, Ethereum ended the day at $383.33.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $404.57 before hitting reverse.

Ethereum broke through the first major resistance level at $401.34 before sliding to a mid-day intraday low $378.36.

The sell-off saw Ethereum fall through the first major support level at $388.78 and the second major support level at $380.66.

Steering well clear of sub-$370 levels, Ethereum briefly revisited $388 levels before easing back to sub-$384 levels.

While breaking back through the second major support level, the first major support level pinned Ethereum back.

At the time of writing, Ethereum was down by 0.2% to $382.57. A bearish start to the day saw Ethereum fall from an early morning high $383.39 to a low $382.17.

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

ETH/USD 03/11/20 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $388.75 to support a run at the first major resistance level at $399.15.

Support from the broader market would be needed, however, for Ethereum to break out from $395 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $400 would likely cap any upside.

In the event of a further breakout, Ethereum could test resistance at $410 before any pullback. The second major resistance level sits at $414.96.

Failure to move through the $388.75 pivot would bring the first major support level at $372.94 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $362.54. The 38.2% FIB of $367 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $372.94

Pivot Level: $388.75

First Major Resistance Level: $399.15

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin slid by 3.18% on Monday. Following on from a 0.23% decline on Sunday, Litecoin ended the day at $53.90.

A bullish start to the day saw Litecoin strike an early morning intraday high $56.85 before hitting reverse.

Litecoin broke through the first major resistance level at $56.53 before sliding to a mid-day intraday low $53.12.

Litecoin fell through the first major support level at $54.44 and the 23.6% FIB of $54.00.

Finding support at the second major support level at $53.23, Litecoin revisited $54.5 levels before easing back.

While the first major support level pinned Litecoin back, the 23.6% FIB provided support late in the day.

At the time of writing, Litecoin was down by 0.33% to $53.72. A bearish start to the day saw Litecoin fall from an early morning high $53.93 to a low $53.66.

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

LTC/USD 03/11/20 Hourly Chart

For the day ahead

Litecoin would need to move through the 23.6% FIB and the $54.62 pivot to support a run at the first major resistance level at $56.13.

Support from the broader market would be needed, however, for Litecoin to break back through to $56 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 $57 before any pullback. The second major resistance level sits at $58.35.

Failure to move through the 23.6% FIB and the $54.62 pivot level would bring the first major support level at $52.40 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.89 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $52.40

Pivot Level: $54.62

First Major Resistance Level: $56.13

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 2.12% on Monday. Reversing a 0.14% gain from Sunday, Ripple’s XRP ended the day at $0.23549.

It was a bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.24489 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2421 and the second major resistance level at $0.2441.

Falling short of the third major resistance level at $0.2487, Ripple’s XRP slid to a mid-day intraday low $0.23297.

Ripple’s XRP fell through the first major support level at $0.2375 and the second major support level at $0.2349.

Steering clear of the third major support level at $0.2303, Ripple’s XRP briefly recovered to $0.236 levels before easing back.

The first major support level at $0.2375 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.24% to $0.23492. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.23546 to a low $0.23487.

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

XRP/USD 03/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2378 pivot level to support a run at the first major resistance level at $0.2426.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 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 resistance at $0.25 before any pullback. The second major resistance level sits at $0.2497.

Failure to move through the $0.2378 pivot would bring the first major support level at $0.2307 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 support levels. The second major support level sits at $0.2259.

Looking at the Technical Indicators

First Major Support Level: $0.2307

Pivot Level: $0.2378

First Major Resistance Level: $0.2426

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 2nd, 2020

Bitcoin

Bitcoin rose by 5.52% in the week ending 1st November. Following on from a 13.20% rally from the week prior, Bitcoin ended the week at $13,756.0.

It was a mixed start to the week. Bitcoin fell to a Monday intraweek low $12,781.0 before making a move.

Steering clear of the first major support level at $11,850, Bitcoin rallied to a Saturday intraweek high $14,055.0.

Bitcoin broke through the first major resistance level at $13,791 to visit $14,000 levels for the first time since January 2018.

A bearish end to the week, however, saw Bitcoin fall back to sub-$14,000 levels.

The pullback also saw Bitcoin fall back through the first major resistance level at $13,791.

5 days in the green that included a 4.34% rally on Tuesday delivered the upside for the week.

For the week ahead

Bitcoin would need to avoid a fall through $13,531 pivot to support a run the first major resistance level at $14,280.

Support from the broader market would be needed for Bitcoin to break out from last week’s high $14,055.0.

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 $15,000 before any pullback. The second major resistance level sits at $14,805.

Failure to avoid a fall through the $13,531 pivot would bring the first major support level at $13,006 into play.

Barring an extended sell-off, however, Bitcoin should steer clear of sub-$13,000 support levels. The second major support level sits at $12,257.

At the time of writing, Bitcoin was down by 0.59% to $13,675.0. A mixed start to the week on Monday saw Bitcoin rise to an early Monday morning high $13,836.0 before falling to a low $13,645.0.

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

BTC/USD 02/11/20 Daily Chart

Ethereum

Ethereum fell by 2.32% in the week ending 1st November. Partially reversing a 7.37% gain from the previous week, Ethereum ended the week at $369.91.

It was a choppy start to the week. Recovering from a 3.28% slide on Monday, Ethereum struck a Tuesday intraweek high $411.77 before hitting reverse.

Falling well short of the first major resistance level at $431, Ethereum slid to a Friday intraweek low $373.40.

Finding support at the first major support level at $373, however, Ethereum revisited $397 levels before easing back.

4-days in the red that included a 3.28% fall on Monday and a 4.22% slide on Wednesday delivered the downside for the week. A 3.21% rally on Tuesday limited the losses, however.

For the week ahead

Ethereum would need to avoid a fall through the $394 pivot level to support a run at the first major resistance level at $415.

Support from the broader market would be needed, however, for Ethereum to break out from last week’s high $411.77.

Barring an extended crypto rally, the first major resistance level and last week’s high $411.77 would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $432 before any pullback.

Failure to avoid a fall through the $394 pivot would bring the first major support level at $376 and the 38.2% FIB of $367 into play.

Barring an extended crypto market sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $356.

At the time of writing, Ethereum was up by 0.65% to $399.49. A Bullish start to the week saw Ethereum rise from an early Monday morning low $369.90 to an early morning high $404.57.

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

ETH/USD 02/11/20 Daily Chart

The Crypto Daily – Movers and Shakers – November 2nd, 2020

Bitcoin, BTC to USD, slipped by 0.16% on Sunday. Partially reversing a 1.62% gain from Saturday, Bitcoin ended the week up by 5.52% to $13,756.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $13,892.0 before hitting reverse.

Falling short of the first major resistance level at $14,087, Bitcoin fell to an early morning intraday low $13,611.0.

Steering clear of the first major support level at $13,457, Bitcoin revisited $13,800 levels before easing back into the red.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 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 Sunday.

Bitcoin Cash SV (-0.33%) and Litecoin (-0.23%) joined Bitcoin in the red, with Binance Coin ending the day flat.

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

Cardano’s ADA led the way, rallying by 5.49%.

Bitcoin Cash ABC (+2.15%), Chainlink (+3.28%), Crypto.com Coin (+1.06%), and Ethereum (+2.63%) also found strong support.

Polkadot (+0.99%) and Ripple’s XRP (+0.14%) trailed the front runners, however.

For the week, it was a bearish week for the majors.

Crypto.com Coin led the way down, sliding by 13.55%.

Bitcoin Cash SV (-9.18%), Cardano’s ADA (-7.67%), and Polkadot (-7.53%) also saw heavy losses.

Binance Coin (-5.41%), Bitcoin Cash ABC (-1.35%), Chainlink (-4.55%), Ethereum (-2.32%), Litecoin (-5.49%), and Ripple’s XRP (-5.21%) saw relatively modest losses in the week.

For the week, the crypto total market cap fell to a Wednesday low $377.68bn before striking a Saturday high $605.88bn. At the time of writing, the total market cap stood at $400.16bn.

Bitcoin’s dominance slid to a Saturday low 43.12% before bouncing back to a Sunday high 64.19%. At the time of writing, Bitcoin’s dominance stood at 63.3%.

This Morning

At the time of writing, Bitcoin was down by 0.41% to $13,700.0. A mixed start to the day saw Bitcoin rise to an early morning high $13,836.0 before falling to a low $13,700.0.

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

Elsewhere, it was a mixed start to the day with Crypto.com Coin falling by 1.99% to buck the trend.

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

At the time of writing, Bitcoin Cash SV was up by 1.42% to lead the way.

BTC/USD 02/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $13,753 to bring the first major resistance level at $13,895 back into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $13,836.0.

Barring an extended crypto rally, the first major resistance level and resistance at $14,000 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $14,034.

Failure to move back through the $13,753 pivot would bring the first major support level at $13,614 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$13,500 levels. The second major support level sits at $13,472.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 2nd, 2020

Ethereum

Ethereum rose by 2.63% on Sunday. Following on from a 1.04% gain on Saturday, Ethereum ended the week down by 2.32% to $396.91.

It was a mixed start to the day. Ethereum rose to an early morning high $390.77 before hitting reverse.

Falling short of the first major resistance level at $393.57, Ethereum fell to an early morning intraday low $385.09.

Steering clear of the first major support level at $380.33, Ethereum rallied to a late intraday high $397.65.

Ethereum broke through the first major resistance level at $393.57 to deliver the upside on the day.

At the time of writing, Ethereum was up by 1.53% to $402.99. A bullish start to the day saw Ethereum rise from an early morning low $396.90 to a high $404.49.

Ethereum broke through the first major resistance level at $401.34 early on.

ETH/USD 02/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall back through to sub-$400 levels to support another run at the second major resistance level at $405.78.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $404.49.

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

In the event of a further breakout, Ethereum could test resistance at $410 before any pullback. The third major resistance level sits at $418.34.

A fall back through to sub-$400 levels and the $393.22 pivot would bring the first major support level at $388.78 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$380 levels. The second major support level at $380.66 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $388.78

Pivot Level: $393.22

First Major Resistance Level: $401.34

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 0.23% on Sunday. Partially reversing a 3.18% rally from Saturday, Litecoin ended the week down by 5.49% to $55.65

It was a bullish start to the day. Litecoin rose to an early morning intraday high $56.20 before hitting reverse.

Falling well short of the first major resistance level at $57.00, however, Litecoin fell to a late morning intraday low $54.11.

Finding support at the 23.6% FIB of $54 and the first major support level at $54.15, Litecoin revisited $56 levels before easing back into the red.

At the time of writing, Litecoin was up by 1.01% to $56.21. A bullish start to the day saw Litecoin rise from an early morning low $55.67 to a high $56.85.

Litecoin broke through the first major resistance level at $56.53 early on.

LTC/USD 02/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $55.32 pivot to support another run at the first major resistance level at $56.53.

Support from the broader market would be needed, however, for Litecoin to break back through to $56.50 levels.

Barring an extended crypto rally, the first major resistance level and the morning high $56.85 would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test the second major resistance level at $57.41 before any pullback.

Failure to avoid a fall through the $55.32 pivot level would bring the first major support level at $54.44 and the 23.6% FIB of $54 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$54 levels. The second major support level sits at $53.23.

Looking at the Technical Indicators

First Major Support Level: $54.44

Pivot Level: $55.32

First Major Resistance Level: $56.53

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 0.14% on Sunday. Following on from a 0.29% gain on Saturday, Ripple’s XRP ended the week down by 5.21% to $0.24009.

It was another mixed start to the day. Ripple’s XRP rose to an early morning high $0.24148 before hitting reverse.

Falling short of the first major resistance level at $0.2432, Ripple’s XRP slid to a mid-day intraday low $0.23689.

Ripple’s XRP fell through the first major support level at $0.2373 before revisiting $0.2414 levels.

A late pullback, however, left Ripple’s XRP at sub-$0.2410 levels at the day end.

At the time of writing, Ripple’s XRP was up by 1.09% to $0.24270. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24060 to a high $0.24330.

Ripple’s XRP broke through the first major resistance level at $0.2421 early on.

XRP/USD 02/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the first major resistance level at $0.2421 to support another run at the second major resistance level at $0.2441.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.24330.

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

In the event of an extended rally, Ripple’s XRP could test resistance at $0.25 before any pullback. The third major resistance level sits at $0.2487.

A fall through the first major resistance level and the $0.2395 pivot would bring the first major support level at $0.2375 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2350 levels. The second major support level sits at $0.2349.

Looking at the Technical Indicators

First Major Support Level: $0.2375

Pivot Level: $0.2395

First Major Resistance Level: $0.2421

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 1st, 2020

Bitcoin, BTC to USD, rose by 1.62% on Saturday. Following on from a 0.88% gain on Friday, Bitcoin ended the day at $13,788.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $13,425.0 before making a move.

Steering clear of the first major support level at $13,234, Bitcoin rallied to a late morning intraday high $14,055.0.

Bitcoin broke through the first major resistance level at $13,787 and the second major resistance level at $14,007.

A pullback going into the afternoon saw Bitcoin fall back to sub-$13,600 levels before finding support.

Range-bound through the 2nd half of the day, however, the first major resistance level at $13,787 pinned Bitcoin back.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 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 Saturday.

Crypto.com Coin (-0.47%) and Cardano’s ADA (-0.49%) saw red to buck the trend on the day.

It was a bullish day for the rest, however, with Litecoin rallying by 3.18% to lead the way.

Bitcoin Cash SV (+1.84%), Chainlink (+1.32%), and Ethereum (+1.04%) also found relatively strong support.

Binance Coin (+0.15%), Bitcoin Cash ABC (+0.25%), Polkadot (+0.77%), and Ripple’s XRP (+0.29%) saw relatively modest gains on the day.

In current the week, the crypto total market cap fell to a Wednesday low $377.69bn before striking a Saturday high $604.34. At the time of writing, the total market cap stood at $402.37bn.

Bitcoin’s dominance slid to a Saturday low 43.21% before bouncing back to a Saturday high 64.19%. At the time of writing, Bitcoin’s dominance stood at 64.01%.

This Morning

At the time of writing, Bitcoin was down by 0.01% to $13,787.0. A mixed start to the day saw Bitcoin fall to an early morning low $13,708.0 before rising to a high $13,795.0

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

Elsewhere, it was a mixed start to the day with Binance Coin falling by 0.22% to buck the trend.

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

At the time of writing, Ethereum was up by 0.78% to lead the way.

BTC/USD 01/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $13,756 to bring the first major resistance level at $14,087 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $14,055.

Barring an extended crypto rally, the first major resistance level and resistance at $14,100 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,400 before any pullback. The second major resistance level sits at $14,386.

Failure to avoid a fall back through the $13,756 pivot would bring the first major support level at $13,457 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$13,400 levels. The second major support level sits at $13,126.