Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 28th, 2020

Ethereum

Ethereum fell by 0.25% on Friday. Following on from an 8.58% slide on Thursday, Ethereum ended the day at $519.07.

A mixed start to the day saw Ethereum rise to an early morning intraday high $531.41 before hitting reverse.

Falling short of the first major resistance level at $571.53, Ethereum slid to a mid-afternoon intraday low $493.51.

While steering clear of the first major support level at $474.61, Ethereum fell through the 23.6% FIB of $495.

Finding late support, however, Ethereum broke back through the 23.6% FIB to wrap up the day at $519 levels.

At the time of writing, Ethereum was down by 0.63% to $515.79. A mixed start to the day saw Ethereum rise to an early morning high $520.66 before falling to a low $515.79.

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 $514.66 to support a run at the first major resistance level at $535.82.

Support from the broader market would be needed, however, for Ethereum to break back through to $530 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $531.41 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $550 before any pullback. The second major resistance level sits at $552.56.

Failure to avoid a fall through the $514.66 pivot would bring the first major support level at $497.92 and the 23.6% FIB of $495 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $476.76.

Looking at the Technical Indicators

First Major Support Level: $497.92

Pivot Level: $514.66

First Major Resistance Level: $535.82

23.6% FIB Retracement Level: $495

38.2% FIB Retracement Level: $416

62% FIB Retracement Level: $288

Litecoin

Litecoin fell by 2.70% on Friday. Following on from a 12.96% tumble on Thursday, Litecoin ended the day at $69.20.

It was a mixed start to the day. Litecoin rose to an early morning intraday high $73.58 before hitting reverse.

Falling short of the first major resistance level at $81.48, Litecoin slid to a late afternoon intraday low $65.28.

While steering clear of the first major support level at $62.52, Litecoin fell through the 38.2% FIB of $71.00.

Finding support late in the day, Litecoin move back through to $69 levels to reduce the deficit on the day.

At the time of writing, Litecoin was down by 0.68% to $68.73. A mixed start to the day saw Litecoin rise to an early morning high $69.50 before falling to a low $68.58.

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

For the day ahead

Litecoin would need to move back through the $69.35 pivot to support a run at the first major resistance level at $73.43.

Support from the broader market would be needed, however, for Litecoin to break out from the 38.2% FIB of $71.

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 $77.65.

Failure to move back through the $69.35 pivot level would bring the first major support level at $65.13 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$60 levels. The second major support level at $61.05 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $65.13

Pivot Level: $69.35

First Major Resistance Level: $73.43

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 4.64% on Friday. Partially reversing Thursday’s 14.78% slump, Ripple’s XRP ended the day at $0.56192.

It was another mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.5880 before hitting reverse.

Falling short of the first major resistance level at $0.6409, Ripple’s XRP fell to a late morning intraday low $0.49552.

While steering clear of the first major support level at $0.4441, Ripple’s XRP fell through the 38.2% FIB of $0.5285.

Finding support going into the 2^nd half of the day, Ripple’s XRP moved back through to $0.56 levels to end the day in the green.

The recovery saw Ripple’s XRP break back through the 38.2% FIB of $0.5285.

At the time of writing, Ripple’s XRP was down by 0.63% to $0.55837. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.56872 before falling to a low $0.55641.

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 $0.5485 pivot level to support a run at the first major resistance level at $0.6014.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.60 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 23.6% FIB of 0.6274 and the second major resistance at $0.6410.

Failure to avoid a fall through the $0.5485 pivot would bring the 38.2% FIB of $0.5285 and the first major support level at $0.5090 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer well clear of sub-$0.40 levels and the 62% FIB of $0.3687. The second major support level at $0.4560 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.5090

Pivot Level: $0.5485

First Major Resistance Level: $0.6014

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

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

Thanks, Bob