Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 3rd, 2021


Ethereum

Ethereum rallied by 6.29% on Tuesday. Following a 0.76% gain on Monday, Ethereum ended the day at $4,595.01.

A bearish start to the day saw Ethereum fall to an early morning intraday low $4,287.32 before making a move.

Steering clear of the first major support level at $4,188, Ethereum rallied to a final hour intraday high and ATH $4,604.99.

Ethereum broke through the first major resistance level at $4,422 and the second major resistance level at $4,521 to end the day at $4,595 levels.

At the time of writing, Ethereum was down by 0.32% to $4,580.35. A mixed start to the day saw Ethereum rise to an early morning high $4,604.00 before falling to a low $4,577.13.

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

For the day ahead

Ethereum would need to avoid the $4,496 pivot to bring the first major resistance level at $4,704 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $4,650 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 $4,900 levels before any pullback. The second major resistance level sits at $4,813.

A fall through the $4,496 pivot would bring the first major support level at $4,387 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,200 levels. The second major support level sits at $4,178.

Looking at the Technical Indicators

First Major Support Level: $4,387

Pivot Level: $4,496

First Major Resistance Level: $4,704

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 1.68% on Tuesday. Following a 2.94% gain on Monday, Litecoin ended the day at $201.03.

A mixed start to the day saw Litecoin fall to an early morning intraday low $195.24 before making a move.

Steering clear of the first major support level at $190, Litecoin rallied to a late intraday high $204.75.

Litecoin broke through the first major resistance level at $203 before easing back to end the day at $201 levels.

At the time of writing, Litecoin was up by 0.30% to $200.43. A mixed start to the day saw Litecoin rise to an early morning high $201.36 before falling to a low $200.41.

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

For the day ahead

Litecoin would need to avoid a fall through the $200 pivot to bring the first major resistance level at $205 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $204.75.

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 $210.

A fall 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 $191 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $196

Pivot Level: $200

First Major Resistance Level: $205

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 3.99% on Tuesday. Reversing a 1.77% loss from Monday, Ripple’s XRP ended the day at $1.13652.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.08710 before making a move.

Steering clear of the first major support level at $1.0662, Ripple’s XRP rose to a late intraday high $1.14698.

Ripple’s XRP broke through the first major resistance level at $1.1269 to end the day at $1.13 levels.

At the time of writing, Ripple’s XRP was down by 0.13% to $1.13501. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.14037 before falling to a low $1.13501.

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

For the day ahead

Ripple’s XRP would avoid the $1.1235 pivot to bring the first major resistance level at $1.1600 into play.

Support would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $1.4698.

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 $1.20 levels before any pullback. The second major resistance level sits at $1.1834.

A fall through the $1.1235 pivot would bring the first major support level at $1.1001 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid the 38.2% FIB of $1.0659 and the second major support level at $1.0637.

Looking at the Technical Indicators

First Major Support Level: $1.1001

Pivot Level: $1.1235

First Major resistance Level: $1.1600

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



News Source

جواب چھوڑ دیں

براہ مہربانی اپنی رائے درج کریں!
اپنا نام یہاں درج کریں