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

Bob Mason
·5 min read

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.

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.

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.

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

This article was originally posted on FX Empire

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