Home Litecoin Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 1st, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 1st, 2021

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Ethereum

Ethereum fell by 0.82% on Sunday. Following a 2.18% decline on Saturday, Ethereum ended the week up by 5.08% to $4,290.16.

A bullish start to the day saw Ethereum rise to an early morning intraday high $4,395.99 before hitting reverse.

Falling short of the first major resistance level at $4,428, Ethereum slid to a mid-day intraday low $4,168.10.

Ethereum fell through the first major support level at $4,229 before briefly revisiting $4,300 levels.

A late pullback, however, saw Ethereum fall back to sub-$4,300 levels and into the red.

At the time of writing, Ethereum was up by 0.44% to $4,308.88. A mixed start to the day saw Ethereum fall to an early morning low $4,281.33 before rising to a high $4,310.00.

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

For the day ahead

Ethereum would need to avoid a fall back through the $4,285 pivot to bring the first major resistance level at $4,401 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,400 levels.

Barring an extended crypto rally, the first major resistance level and last week’s ATH $4,461.96 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $4,600 levels before any pullback. The second major resistance level sits at $4,513.

A fall back through the $4,285 pivot would bring the first major support level at $4,174 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level at $4,057 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,174

Pivot Level: $4,285

First Major Resistance Level: $4,401

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.88% on Sunday. Partially reversing a 3.23% decline from Saturday, Litecoin ended the week up by 0.80% to $192.01.

A bullish start to the day saw Litecoin rise to an early morning intraday high $195.25 before hitting reverse.

Falling short of the first major resistance level at $196, Litecoin fell to an early afternoon intraday low $186.87.

Finding support at the first major support level at $186, Litecoin broke back through to $192 levels to end the day in positive territory.

At the time of writing, Litecoin was down by 0.02% to $191.97. A mixed start to the day saw Litecoin rise to an early morning high $192.26 before falling to a low $191.06.

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

For the day ahead

Litecoin would need to avoid the $191 pivot to bring the first major resistance level at $196 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $195 levels.

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 $200.

A fall through the $191 pivot would bring the first major support level at $188 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$180. The second major support level at $183 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $188

Pivot Level: $191

First Major Resistance Level: $196

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 2.75% on Sunday. Following a 0.19% gain on Saturday, Ripple’s XRP ended the week up by 2.84% to $1.11335.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $1.15350 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.1123 and the second major resistance level at $0.1400.

The reversal saw Ripple’s XRP slide to a mid-day intraday low $1.06999.

Steering clear of the 38.2% FIB of $1.0659 and the first major support level at $1.0600, Ripple’s XRP revisited $1.12 levels.

Ripple’s XRP broke back through the first major resistance level to end the day at $1.11 levels.

At the time of writing, Ripple’s XRP was up by 0.08% to $1.11427. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.11474 before falling to a low $1.10909.

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

For the day ahead

Ripple’s XRP would need to move back through the $1.1123 pivot to bring the first major resistance level at $1.1546 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 and Sunday’s high $1.1535 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 $1.1958.

Failure to move back through the $1.1123 pivot would bring the first major support level at $1.0711 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.05 levels and the second major support level at $1.0288. The 38.2% FIB of $1.0659 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0711

Pivot Level: $1.1123

First Major resistance Level: $1.1546

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

This article was originally posted on FX Empire

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