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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 8th, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 8th, 2021
Written by publisher team

Ethereum

Ethereum is up 2.06% on Sunday. After a 0.98% gain from Saturday, Ethereum ended the week 7.62% higher at $4,617.02.

A mixed start to the day saw Ethereum drop to an early morning intraday low of $4,506.99 before making any move.

Moving away from the first major support level at $4,390, Ethereum surged to an intraday high of $4,639.80.

Ethereum broke the first major resistance level at $4,595 to end the day at $4,600 levels.

At the time of writing, the price of Ethereum is up 0.09% to $4,621.11. A mixed start to the day saw Ethereum drop to an early morning low of $4,616.50 before climbing to $4,629.89.

Ethereum left key support and resistance levels untested early on.

for the next day

Ethereum will need to avoid the $4,588 pivot to trigger the first major resistance level at $4,669.

However, support from the broader market will be needed to exit Ethereum from Sunday’s high of $4,639.80.

Barring an extended crypto rally, the first major resistance level, A$4,670.98, is likely to cap the upside.

In the event of a broad rally in the cryptocurrency, Ethereum could test the resistance at $4,800 levels before any pullback. The second major resistance level is located at $4,721.

A fall through the $4,588 pivot would trigger the first major support level at $4,536.

However, barring an extended sell-off, Ethereum should move away from the sub-$4,400 levels. The second major support level at $4,455 should limit the downside.

Looking at technical indicators

First Major Support Level: $4,536

Pivot level: $4,588

First major resistance level: $4,669

23.6% Fib Retracement Level: $3,369

38.2% Fib Retracement Level: $2,740

62% Fib Retracement Level: $1,725

Litecoin

Litecoin is up 2.24% on Sunday. After reversing a 0.65% loss from Saturday, Litecoin ended the week 5.32% higher at $202.23.

A mixed start to the day saw Litecoin drop to an intraday early morning low of $197.12 before making any move.

Moving away from the first major support level at $192, Litecoin price surged to an intraday high of $202.28.

Despite rising against the first major resistance level at $202, Litecoin finished the day at $202 levels.

At the time of writing, Litecoin is up 0.50% in value to $203.24. A bullish start to the day saw Litecoin rally from the early morning low of $202.18 to $203.31.

Litecoin left key support and resistance levels untested early on.

for the next day

Litecoin will need to avoid falling through the $201 pivot to trigger the first major resistance level at $204.

However, support from the broader market will be needed to break out of Sunday’s high of $202.28 in Litecoin.

Barring an extended crypto rally, the first major resistance level is likely to be the upper bound.

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

A fall across the $201 pivot would trigger the first major support level at $199.

Barring another extended sell off, Litecoin should move away from below $190. The second major support level at $195 should limit the downside.

Looking at technical indicators

First Major Support Level: $199

Pivot level: $201

First major resistance level: $204

23.6% Fib Retracement Level: $178

38.2% Fib Retracement Level: $223

62% FIB Retracement Level: $296

Ripple XRP

XRP is up 5.84% on Sunday. After declining 0.56% from Saturday, Ripple XRP ended the week 9.53% higher at $1.21942.

A mixed start to the day saw Ripple’s XRP drop to an intraday early morning low of $1.14677 before making any move.

Moving away from the first major support level at $1.1157, Ripple’s XRP surged to an intraday high at $1.23,648.

Ripple’s XRP has breached the first major resistance at $1.1831 and the second major resistance at $1.2140.

However, after dropping below $1.25 levels, XRP of Ripple briefly dropped through the second major resistance level before ending the day at $1,219 levels.

At the time of writing, Ripple’s XRP is up 0.29% to $1.2292. A mixed start to the day saw Ripple’s XRP drop to an early morning low of $1.2044 before climbing to $1.23017.

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

for the next day

Ripple’s XRP will need to avoid a fall across the $1.2009 pivot to start playing the first major resistance level at $1,250.

However, XRP will need support for a breakout of XRP from Sunday’s high at $1.23,648.

Barring an extended crypto rally, the first major resistance level is likely to be the upper bound.

In the event of a broad rally in the cryptocurrency, Ripple’s XRP could test the resistance at $1.30 levels before any pullback. The second major resistance level is located at $1.2906.

A fall across the $1.2009 pivot will trigger the first major support level at $1.1653.

Barring another extended sell off, Ripple’s XRP should avoid levels below $1.10. The second major support level at $1.1112 should limit the downside.

Looking at technical indicators

First major support level: $1.1653

Pivot level: $1.2009

The first major resistance level: $1.2550

23.6% Fib Retracement Level: $0.8533

38.2% Fib Retracement Level: $1.0659

62% Fibonacci Retracement Level: $1.4096

This article was originally published on FX Empire

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