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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 19th, 2021

By:
Bob Mason
Updated: Nov 19, 2021, 00:56 UTC

After a second sell-off in the week on Thursday, the majors will need to move through the day's pivot level else face yet more downside.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum slid by 6.80% on Thursday. Reversing a 1.89% gain from Wednesday, Ethereum ended the day at $3,997.93.

A mixed start to the day saw Ethereum rise to an early morning intraday high $4,346.42 before hitting reverse.

Falling short of the first major resistance level at $4,370, Ethereum tumbled to a late intraday low $3,960.00.

The extended sell-off saw Ethereum fall through the first major support level at $4,138.

Finding support at the second major support level at $3,988, however, Ethereum ended the day at $3,990 levels.

At the time of writing, Ethereum was down by 0.39% to $3,982.37. A mixed start to the day saw Ethereum rise to an early morning high $4,025.21 before falling to a low $3,977.01.

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

ETHUSD 191121 Hourly Chart

For the day ahead

Ethereum would need to move through the $4,102 pivot to bring the first major resistance level at $4,243 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,200 levels.

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

In the event of a broad-based crypto rally, Ethereum could test resistance at $4,500 levels before any pullback. The second major resistance level sits at $4,488.

Failure to move through the $4,102 pivot would bring the first major support level at $3,857 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $3,738. The second major support level sits at $3,715.

Looking at the Technical Indicators

First Major Support Level: $3,857

Pivot Level: $4,102

First Major Resistance Level: $4,243

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin tumbled by 11.06% on Thursday. Following a 0.39% loss on Wednesday, Litecoin ended the day at $204.24.

A mixed start to the day saw Litecoin rise to an early morning intraday high $232.31 before hitting reverse.

Falling short of the first major resistance level at $237, Litecoin slid to a late afternoon intraday low $199.95.

The reversal saw Litecoin fall through the first major support level at $220 and the second major support level at $211.

More significantly, Litecoin also fell through the 38.2% FIB of $223 to end the day at sub-$210 levels.

At the time of writing, Litecoin was down by 1.10% to $202.00. A mixed start to the day saw Litecoin rise to an early morning high $205.47 before falling to a low $202.00.

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

LTCUSD 191121 Hourly Chart

For the day ahead

Litecoin would need to move through the $212 pivot to bring the 38.2% FIB of $223 and the first major resistance level at $224 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $220 levels.

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

In the event of an extended rally, Litecoin could test resistance at $230. The second major resistance level sits at $245.

Failure to move through the $212 pivot would bring the first major support level at $192 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level sits at $180.

Looking at the Technical Indicators

First Major Support Level: $192

Pivot Level: $212

First Major Resistance Level: $224

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slid by 5.11% on Thursday. Reversing a 0.76% gain from Wednesday, Ripple’s XRP ended the day at $1.04046.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $1.16128 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $1.1195 and the second major resistance level at $1.1423.

The reversal, however, saw Ripple’s XRP slid to a late afternoon intraday low $1.01725.

Ripple’s XRP fell through the first major support level at $1.0663 and the 38.2% FIB of $1.0659.

The extended sell-off also saw Ripple’s XRP briefly fall through the second major support level at $1.0359 before a partial recovery to $1.04 levels.

At the time of writing, Ripple’s XRP was down by 0.50% to $1.03524. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.04586 before falling to a low $1.03090.

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

XRPUSD 191121 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the 38.2% FIB of $1.0659 and the $1.0730 pivot to bring the first major resistance level at $1.1287 into play.

Support would be needed, however, for Ripple’s XRP to break out from $1.10 levels.

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

In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at $1.15 levels before any pullback. The second major resistance level sits at $1.2170.

Failure to move through the 38.2% FIB and the $1.0730 pivot would bring the first major support level at $0.9847 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$0.95 levels. The second major support level sits at $0.9290.

Looking at the Technical Indicators

First Major Support Level: $0.9847

Pivot Level: $1.0730

First Major resistance Level: $1.1287

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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