Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 17th, 2021

Ethereum

Ethereum slid by 7.77% on Tuesday. Following a 1.33% loss on Monday, Ethereum ended the day at $4,209.5.

A bearish day saw Ethereum slide from an early morning intraday high $4,564.98 to a late morning intraday low $4,108.00.

The extended reversal saw Ethereum fall through the day’s major support levels before finding support.

Through the 2^nd half of the day, Ethereum broke back through the third major support level at $4,167 to end the day at $4,200 levels.

At the time of writing, Ethereum was down by 0.29% to $4,197.42. A mixed start to the day saw Ethereum rise to an early morning high $4,223.89 before falling to a low $4,192.29.

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

For the day ahead

Ethereum would need to move through the $4,294 pivot to bring the first major resistance level at $4,480 into play.

Support from the broader market would be needed, however, for Ethereum to break out from $4,300 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $4,564.98 would likely cap the upside.

In the event of a broad-based crypto rebound, Ethereum could test resistance at $4,700 levels before any pullback. The second major resistance level sits at $4,751.

Failure to move through the $4,294 pivot would bring the first major support level at $4,023 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,900 levels. The second major support level sits at $3,837.

Looking at the Technical Indicators

First Major Support Level: $4,023

Pivot Level: $4,294

First Major Resistance Level: $4,480

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin tumbled by 12.40% on Tuesday. Following a 5.85% slide on Monday, Litecoin ended the day at $230.37.

A mixed start to the day saw Litecoin rise to an early morning intraday high $263.2 before hitting reverse.

Falling short of the first major resistance level at $277, Litecoin slid to a late morning intraday low $223.13.

Litecoin fell through the day’s major support levels.

Finding support at the 38.2% FIB of $223, however, Litecoin broke back through the third major support level at $224 to end the day at $230 levels.

At the time of writing, Litecoin was down by 0.39% to $229.47. A mixed start to the day saw Litecoin rise to an early morning high $232.24 before falling to a low $229.18.

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

For the day ahead

Litecoin would need to move through the $239 pivot to bring the first major resistance level at $255 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $250 levels.

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

In the event of an extended rally, Litecoin could test the second major resistance level at $279.

Failure to move through the $239 pivot would bring the 38.2% FIB of $223 and the first major support level at $215 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level sits at $199.

Looking at the Technical Indicators

First Major Support Level: $215

Pivot Level: $239

First Major Resistance Level: $255

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 7.10% on Tuesday. Following on from a 1.51% decline on Monday, Ripple’s XRP ended the day at $1.08885.

Tracking the broader market, Ripple’s XRP slid from an early morning intraday high $1.17207 to a late morning intraday low $1.04058.

The extended sell-off saw Ripple’s XRP fall through the day’s major support levels and the 38.2% FIB of $1.0659.

Finding late morning support, however, Ripple’s XRP broke back through the 38.2% FIB and the third major support level at $1.0786.

A 2^nd sell-off, however, saw Ripple’s XRP briefly fall back through the third major support level before ending the day at $1.08 levels.

The 38.2% FIB of $1.0659 delivered support late in the day.

At the time of writing, Ripple’s XRP was down by 0.02% to $1.08860. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.09193 before falling to a low $1.08088.

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 $1.1005 pivot to bring the first major resistance level at $1.1604 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.15 levels.

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

In the event of a broad-based crypto rebound, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.2320.

Failure to move through the $1.1005 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0289 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level sits at $0.9690.

Looking at the Technical Indicators

First Major Support Level: $1.0289

Pivot Level: $1.1005

First Major resistance Level: $1.1604

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096