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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 24th, 2021

By:
Bob Mason
Updated: Nov 24, 2021, 00:43 UTC

Following Tuesday's gains, avoiding the day's pivot levels would be key to supporting another bullish day ahead.

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Ethereum

Ethereum rallied by 6.17% on Tuesday. Reversing a 4.08% loss from Monday, Ethereum ended the day at $4,341.62.

A choppy start to the day saw Ethereum fall to a late morning intraday low $4,062.28 before making a move.

Steering clear of the first major support level at $3,968, Ethereum rallied to a late intraday high $4,389.95.

Ethereum broke through the first major resistance level at $4,267 to wrap up the day at $4,340 levels.

At the time of writing, Ethereum was up by 0.01% to $4,342.22. Ethereum visited lows and highs of $4,340.92 and $4,343.14 at the start of the day.

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

ETHUSD 241121 Hourly Chart

For the day ahead

Ethereum would need to avoid the $4,265 pivot to bring the first major resistance level at $4,467 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,400 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 $4,700 levels before any pullback. The second major resistance level sits at $4,592.

A fall through the $4,265 pivot would bring the first major support level at $4,139 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level sits at $3,937.

Looking at the Technical Indicators

First Major Support Level: $4,139

Pivot Level: $4,265

First Major Resistance Level: $4,467

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin rose by 3.44% on Tuesday. Partially reversing a 5.54% slide from Monday, Litecoin ended the day at $216.32.

Tracking the broader market, Litecoin fell to a late morning intraday low $205.49 before making a move.

Steering clear of the first major support level at $202, Litecoin rallied to a late intraday high $218.89.

Coming up against the first major resistance level at $219, Litecoin eased back to end the day at $216 levels.

At the time of writing, Litecoin was up by 0.05% to $216.43. A range-bound start to the day saw Litecoin rise from an early morning low $216.28 to a high $216.43.

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

LTCUSD 241121 Hourly Chart

For the day ahead

Litecoin would need to avoid the $214 pivot to bring the first major resistance level at $222 and the 38.2% FIB of $223 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $218 levels.

Barring an extended crypto rally, the 38.2% FIB 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 $227.

A fall through the $214 pivot would bring the first major support level at $208 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level at $200 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $208

Pivot Level: $214

First Major Resistance Level: $222

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 2.84% on Tuesday. Reversing a 2.12% loss from Monday, Ripple’s XRP ended the day at $1.06662.

A choppy start to the day saw Ripple’s XRP slide to a late morning intraday low $1.02100 before making a move.

Finding support at the first major support level at $1.0209, Ripple’s XRP struck a late intraday high $1.07209.

Ripple’s XRP broke through the first major resistance level at $1.0628 and the 38.2% FIB of $1.0659 before easing back to end the day at $1.0666 levels.

At the time of writing, Ripple’s XRP was up by 0.46% to $1.07150. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.06798 to a high $1.07413.

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

XRPUSD 241121 Hourly Chart

For the day ahead

Ripple’s XRP would need to avoid the 38.2% FIB of $1.0659 and the $1.0532 pivot to bring first major resistance level at $1.0855 into play.

Support would be needed, however, for Ripple’s XRP to break out from this morning’s high $1.07413.

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

In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.1043.

A fall through the 38.2% FIB of $1.0659 and the $1.0532 pivot would bring first major support level at $1.0344 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level at $1.0021 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0344

Pivot Level: $1.0532

First Major resistance Level: $1.0855

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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