Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 4th, 2021

Ethereum

Ethereum rose by 0.26% on Wednesday. Consolidating a 6.29% rally from Tuesday, Ethereum ended the day at $4,606.07.

After a mixed morning, Ethereum fell to an early afternoon intraday low $4,456.00 before making a move.

Steering clear of the first major support level at $4,387, Ethereum rallied to a late intraday high and ATH $4,670.98.

Falling short of the first major resistance level at $4,704, however, Ethereum fell back to sub-$4,600 levels before finding support.

At the time of writing, Ethereum was down by 0.05% to $4,603.94. A mixed start to the day saw Ethereum fall to an early morning low $4,586.10 before rising to a high $4,610.24.

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

For the day ahead

Ethereum would need to avoid the $4,578 pivot to bring the first major resistance level at $4,700 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s ATH $4,670.98.

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 $4,900 levels before any pullback. The second major resistance level sits at $4,793.

A fall through the $4,578 pivot would bring the first major support level at $4,484 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,200 levels. The second major support level at $4,363 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,484

Pivot Level: $4,578

First Major Resistance Level: $4,700

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.10% on Wednesday. Following a 1.68% gain on Tuesday, Litecoin ended the day at $207.31.

A mixed start to the day saw Litecoin rally to a late morning intraday high $209.44 before hitting reverse.

Litecoin broke through the first major resistance level at $203.

Coming up against the second major resistance level at $210, Litecoin slid to an early afternoon intraday low $197.51.

Steering clear of the first major support level at $196, Litecoin broke back through the first major resistance level to revisit $209 levels before easing back.

At the time of writing, Litecoin was down by 0.86% to $205.52. A bearish start to the day saw Litecoin fall from an early morning high $207.33 to a low $205.08.

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

For the day ahead

Litecoin would need to avoid a fall through the $205 pivot to bring the first major resistance level at $212 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $209.44.

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

In the event of another breakout, Litecoin could test resistance at $220 before easing back. The second major resistance level sits at $217.

A fall through the $205 pivot would bring the first major support level at $200 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$195. The second major support level sits at $193.

Looking at the Technical Indicators

First Major Support Level: $200

Pivot Level: $205

First Major Resistance Level: $212

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 6.61% on Wednesday. Following a 3.99% gain on Tuesday, Ripple’s XRP ended the day at $1.21118.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.12841 before making a move.

Steering clear of the first major support level at $1.1001, Ripple’s XRP rallied to a mid-morning intraday high $1.23500.

Ripple’s XRP broke through the first major resistance level at $1.1600 and the second major resistance level at $1.1834.

A late morning pullback, however, saw Ripple’s XRP fall back to sub-$1.15 levels before a 2^nd breakout.

Ripple’s XRP fall broke back through the first and the second major resistance levels to end the day at $1.21 levels.

At the time of writing, Ripple’s XRP was up by 1.56% to $1.23007. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.21163 to a high $1.23722.

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

For the day ahead

Ripple’s XRP would avoid the $1.1915 pivot to bring the first major resistance level at $1.2547 into play.

Support would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.2350.

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 resistance at $1.30 levels before any pullback. The second major resistance level sits at $1.2981.

A fall through the $1.1915 pivot would bring the first major support level at $1.1481 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.10 levels. The second major support level sits at $1.0849.

Looking at the Technical Indicators

First Major Support Level: $1.1481

Pivot Level: $1.1915

First Major resistance Level: $1.2547

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096