Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 21st, 2020

Fibo Quantum

For the day ahead

Litecoin would need to move through the $82.92 pivot to support a run at the first major resistance level at $85.66.

Support from the broader market would be needed, however, for Litecoin to break back through to $85 levels.

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

In the event of another extended breakout, Litecoin would likely test the second major resistance level at $88.67.

Failure to move through the $82.92 pivot level would bring the first major support level at $79.91 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $77.17.

Looking at the Technical Indicators

First Major Support Level: $79.91

Pivot Level: $82.92

First Major Resistance Level: $85.66

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rallied by 8.71% on Friday. Following on from a 3.42% rally on Thursday, Ripple’s XRP ended the day at $0.33041.

It was a mixed start to the day. Ripple’s XRP fell to a late morning intraday low $0.29727 before making a move.

Steering clear of the first major support level at $0.2898, however, Ripple’s XRP rallied to a final hour intraday high $0.33113.

Ripple’s XRP broke through the first major resistance level at $0.3125 and the second major resistance level at $0.3210.

At the time of writing, Ripple’s XRP was up by 3.43% to $0.34175. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.32997 to a high $0.34410

Ripple’s XRP broke through the first major resistance level at $0.3419 early on.