Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 6th, 2021

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 Ethereum

Ethereum fell by 1.27% on Friday. Following a 1.50% loss on Thursday, Ethereum ended the day at $4,479.47.


A mixed start to the day saw Ethereum rise to a mid-morning intraday high $4,574.00 before hitting reverse.

Falling short of the first major resistance level at $4,624, Ethereum slid to a late intraday low $4,446.01.

Steering clear of the first major support level at $4,437, Ethereum revisited $4,500 levels before easing back.

At the time of writing, Ethereum was down by 0.05% to $4,477.07. A bearish start to the day saw Ethereum fall from an early morning high $4,479.57 to a low $4,461.18.

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


For the day ahead 


Ethereum would have to travel through the $4,500 turn to bring the main significant opposition level at $4,554 into play. 


Backing from the more extensive market would be required, notwithstanding, for Ethereum to crush spirit through to $4,500 levels. 


Notwithstanding a lengthy crypto rally, the principal significant opposition level and Friday's high $4,574.00 would almost certainly cover the potential gain. 


In case of an expansive based crypto rally, Ethereum could test opposition at Wednesday's ATH $4,680.98 before any pullback. The second significant opposition level sits at $4,628. 


Inability to travel through the $4,500 turn would bring the main significant help level at $4,426 into play. 


Blocking a drawn out auction, be that as it may, Ethereum should avoid sub-$4,200 levels. The subsequent significant help level at $4,372 should restrict the drawback.

Looking at the Technical Indicators

First Major Support Level: $4,426


Pivot Level: $4,500


First Major Resistance Level: $4,554


23.6% FIB Retracement Level: $3,369


38.2% FIB Retracement Level: $2,740


62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 1.80% on Friday. Following a 2.10% decline on Thursday, Litecoin ended the day at $199.13.


A mixed start to the day saw Litecoin rise to an early morning intraday high $203.48 before hitting reverse.

For the day ahead

Litecoin would need to move through the $200 pivot to bring the first major resistance level at $203 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $200 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $203.48 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $210 before easing back. The second major resistance level sits at $206.

Failure to move through the $200 pivot would bring the first major support level at $196 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$190. The second major support level at $193 should limit the downside.


Falling short of the first major resistance level at $208, Litecoin slid to a late intraday low $196.87.


Testing support at the first major support level at $197, Litecoin partially recovered to the end at day at $199 levels.


At the time of writing, Litecoin was up by 0.16% to $199.44. A mixed start to the day saw Litecoin fall to an early morning low $198.23 before rising to a high $199.47.


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

Looking at the Technical Indicators

First Major Support Level: $196


Pivot Level: $200


First Major Resistance Level: $203


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 3.50% on Friday. Following a 0.79% fall on Thursday, Ripple’s XRP ended the day at $1.15991.


A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.20199 before hitting reverse.


Falling short of the first major resistance level at $1.2515, Ripple’s XRP slid to a mid-afternoon intraday low $1.13176.


Ripple’s XRP fell through the first major support level at $1.1584 before revisiting $1.16 levels.


Late in the day, the first major support level delivered support to prevent heavier losses.


At the time of writing, Ripple’s XRP was down by 0.11% to $1.15864. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.15501 before rising to a high $1.16007.


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

For the day ahead

Ripple’s XRP would need to move through the $1.1646 pivot to bring the first major resistance level at $1.1973 into play.


Support would be needed, however, for Ripple’s XRP to break back through to $1.19 levels.


Barring an extended crypto rally, the first major resistance level and Friday’s high $1.20199 would likely cap the upside.


In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.25 levels before any pullback. The second major resistance level sits at $1.2348.


Failure to move through the $1.1646 pivot would bring the first major support level at $1.1271 into play.


Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.10 levels. The second major support level sits at $1.0943.

Looking at the Technical Indicators

First Major Support Level: $1.1271


Pivot Level: $1.1646


First Major resistance Level: $1.1973


23.6% FIB Retracement Level: $0.8533


38.2% FIB Retracement Level: $1.0659


62% FIB Retracement Level: $1.4096

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