Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 14th, 2020 – FX Empire
For the day ahead
Litecoin would need to avoid a fall through the $64.28 pivot to support a run at the first major resistance level at $68.39.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $66.66.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin would likely test resistance at $70 before any pullback. The second major resistance level sits at $70.77, with the 38.2% FIB sitting at $71.
Failure to avoid a fall through the $64.28 pivot level would bring the first major support level at $61.90 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$60. The second major support level sits at $57.79.
Looking at the Technical Indicators
First Major Support Level: $61.90
Pivot Level: $64.28
First Major Resistance Level: $68.39
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP rallied by 4.31% on Friday. Reversing a 0.45% loss from Thursday, Ripple’s XRP ended the day at $0.26598.
It was a choppy start to the day. Ripple’s XRP fell to a mid-morning intraday low $0.25413 before making a move.
Steering clear of the first major support level at $0.2524, Ripple’s XRP rallied to a late intraday high $0.26598.
Ripple’s XRP broke through the first major resistance level at $0.2579 and the second major resistance level at $0.2608.
Coming within range of the third major resistance level at $0.2663, Ripple’s XRP briefly fell back to $0.263 levels.
Finding late support, however, Ripple’s XRP moved back through to $0.265 levels to round off a bullish day.
At the time of writing, Ripple’s XRP was down by 0.52% to $0.26459. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.26750 before falling to a low $0.26459.
Ripple’s XRP left the major support and resistance levels untested early on.