Yahoo Finance Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 3rd, 2021
Daily Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP
Ethereum
Ethereum fell by 1.58% on Thursday. Following a 1.07% loss on Wednesday, Ethereum ended the day at $4,514.
A mixed morning saw Ethereum fall to an early morning low $4,455 before finding support. Ethereum fell through the first major support level at $4,481 before rallying to a mid-afternoon intraday high $4,637.
Falling well short of the first major resistance level at $4,739, however, Ethereum slid to a late afternoon intraday low $4,435. Ethereum fell back through the first major support level before ending the day at $4,500 levels.
At the time of writing, Ethereum was up by 0.08% to $4,518. A mixed start to the day saw Ethereum rise to an early morning high $4,520 before falling to a low $4,507.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $4,529 pivot to bring the first major resistance level at $4,623 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,600 levels. Barring an extended rally, the first major resistance level and Thursday’s high $4,637 should limit the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at the ATH $4,868 before any pullback. The second major resistance level sits at $4,731.
Failure to move through the $4,529 pivot would bring the first major support level at $4,421 into play. Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,300 levels. The second major support level at $4,327 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $4,421
Pivot Level: $4,529
First Major Resistance Level: $4,623
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin fell by 2.56% on Thursday. Reversing a 0.43% gain from Wednesday, Litecoin ended the day at $203.63.
A mixed start to the day saw Litecoin rise to an early morning intraday high $210.29 before hitting reverse. Falling short of the first major resistance level at $216, Litecoin slid to an early morning intraday low $200.14.
Litecoin fell through the first major support level at $204, however, before briefly revisiting $207 levels. A bearish end to the day, however, saw Litecoin fall back through the first major support level to end the day at $203 levels.
At the time of writing, Litecoin was up by 0.01% to $203.65. A range-bound start saw Litecoin rise to an early morning high $203.86 before falling to a low $203.20.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $205 pivot to bring the first major resistance level at $209 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $209 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $210.29 would likely cap the upside.
In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $215.
Failure to move through the $205 pivot would bring the first major support level at $199 into play. Barring an extended sell-off, Litecoin should steer clear of sub-$195 levels. The second major support level at $195 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $199
Pivot Level: $205
First Major Resistance Level: $209
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 1.73% on Thursday. Following a 0.66% loss on Wednesday, Ripple’s XRP ended the day at $0.97298.
A bearish morning saw Ripple’s XRP fall from an early morning intraday high $0.9901 to an early morning intraday low $0.9573. While falling short of the first major resistance level at $1.0123, Ripple’s XRP fell through the first major support level at $0.9754.
Finding support at the second major support level at $0.9597, however, Ripple’s XRP revisited $0.984 levels before easing back.
At the time of writing, Ripple’s XRP was down by 0.17% to $0.9713. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.9735 before falling to a low $0.9702.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP would need move through the $0.9735 pivot to bring the first major resistance level at $0.9896 into play.
Support would be needed, however, for Ripple’s XRP to break back through to $0.985 levels. Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.9901 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.03 levels before any pullback. The second major resistance level sits at $1.0062.
Failure to move through the $0.9735 pivot would bring first major support level at $0.9568 into play. Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.9407.
Looking at the Technical Indicators
First Major Support Level: $0.9568
Pivot Level: $0.9735
First Major resistance Level: $0.9896
23.6% FIB Retracement Level: $0.8533
38.2% FIB Retracement Level: $1.0659
62% FIB Retracement Level: $1.4096
This article was originally posted on FX Empire
