Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 2nd, 2021


Ethereum

Ethereum rose by 0.76% on Monday. Partially reversing a 0.82% decline from Sunday, Ethereum ended the day at $4,322.89.

A bearish start to the day saw Ethereum slide to an early morning intraday low $4,151.00 before making a move.

Ethereum fell through the first major support level at $4,174 before rising to an early afternoon intraday high $4,385.16.

Falling short of the first major resistance level at $4,401, Ethereum slid back to sub-$4,300 levels before finding support.

At the time of writing, Ethereum was down by 0.14% to $4,316.82. A mixed start to the day saw Ethereum rise to an early morning high $4,324.75 before falling to a low $4,316.82.

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

For the day ahead

Ethereum would need to avoid the $4,286 pivot to bring the first major resistance level at $4,422 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $4,385.16.

Barring an extended crypto rally, the first major resistance level and last week’s ATH $4,461.96 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $4,600 levels before any pullback. The second major resistance level sits at $4,521.

A fall through the $4,286 pivot would bring the first major support level at $4,188 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level at $4,052 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,188

Pivot Level: $4,286

First Major Resistance Level: $4,422

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.94% on Monday. Following a 0.88% gain on Sunday, Litecoin ended the day at $197.65.

A mixed start to the day saw Litecoin fall to an early morning intraday low $188.02 before making a move.

Finding support at the first major support level at $188, Litecoin surged to a late afternoon intraday high $201.31.

Litecoin broke through the first major resistance level at $196 to end the day at $197 levels.

At the time of writing, Litecoin was up by 0.16% to $197.97. A mixed start to the day saw Litecoin fall to an early morning low $197.61 before rising to a high $198.40.

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

For the day ahead

Litecoin would need to avoid the $196 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 Monday’s high $201.31.

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

In the event of another breakout, Litecoin could test the second major resistance level at $209.

A fall through the $196 pivot would bring the first major support level at $190 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$185. The second major support level sits at $182.

Looking at the Technical Indicators

First Major Support Level: $190

Pivot Level: $196

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 fell by 1.77% on Monday. Partially reversing a 2.75% gain from Sunday, Ripple’s XRP ended the day at $1.09390.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $1.13226 before hitting reverse.

Falling short of the first major resistance level at $1.1546, Ripple’s XRP slid to an early morning intraday low $1.07149.

Coming within range of the first major support level at $1.0711, Ripple’s XRP revisited $1.10 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.27% to $1.09100. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.09294 to a low $1.09100.

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 $1.0992 pivot to bring the first major resistance level at $1.1269 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.12 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $1.13226 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1600.

Failure to move through the $1.0992 pivot would bring the first major support level at $1.0662 and the 38.2% FIB of $1.0659 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.05 levels. The second major support level sits at $1.0384.

Looking at the Technical Indicators

First Major Support Level: $1.0662

Pivot Level: $1.0992

First Major resistance Level: $1.1269

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

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

Thanks, Bob



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