Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 11th, 2020

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 11th, 2020

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Bob Mason

Ethereum

Ethereum rose by 1.36% on Tuesday. Partially reversing a 2.16% fall from Monday, Ethereum ended the day at $450.89.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $439.36 before making a move.

Steering clear of the first major support level at $432.43, Ethereum rallied to a late morning intraday high $455.51.

Falling short of the first major resistance level at $458.60 Ethereum fell back to sub-$450 levels.

Finding support in the 2nd half of the day, Ethereum briefly revisited $455 levels before easing back to sub-$451 levels.

At the time of writing, Ethereum was down by 0.12% to $450.33. A mixed start to the day saw Ethereum rise to an early morning high $451.85 before falling to a low $450.11.

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

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $448.59 to support a run at the first major resistance level at $457.81.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $455.51.

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

In the event of a breakout, Ethereum could test resistance at $460 before any pullback. The second major resistance level sits at $464.74.

Failure to avoid a fall through the $448.59 pivot would bring the first major support level at $441.66 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $432.44.

Looking at the Technical Indicators

First Major Support Level: $441.66

Pivot Level: $448.59

First Major Resistance Level: $457.81

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 2.23% on Tuesday. Following on from a 2.85% slide on Monday, Litecoin ended the day a $57.97.

It was also a mixed start to the day. Litecoin rose to an early morning intraday high $59.63 before hitting reverse.

https://finance.yahoo.com/news/ethereum-litecoin-ripple-xrp-daily-001547358.html