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

Ethereum

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

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

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

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

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

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

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

For the day ahead

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

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

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

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

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

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

Looking at the Technical Indicators

First Major Support Level: $453.18

Pivot Level: $461.87

First Major Resistance Level: $471.67

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

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

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

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

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

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

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

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

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

For the day ahead

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

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

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

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

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

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

Looking at the Technical Indicators

First Major Support Level: $58.69

Pivot Level: $59.75

First Major Resistance Level: $61.79

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

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

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

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

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

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

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

For the day ahead

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

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

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

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

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

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

Looking at the Technical Indicators

First Major Support Level: $0.2524

Pivot Level: $0.2554

First Major Resistance Level: $0.2579

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob