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

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·5-min read
In this article:
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Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Ethereum

Ethereum rallied by 4.16% on Tuesday. Following a 3.51% gain on Monday, Ethereum ended the day at $4,635.

A mixed morning saw Ethereum fall to a late morning intraday low $4,351 before making a move. Steering clear of the first major support level at $4,332, Ethereum rallied to an early afternoon intraday high $4,759.

Ethereum broke through the first major resistance level at $4,516 and the second major resistance level at $4,583. Coming up against the third major resistance level at $4,767, however, Ethereum eased back to end the day at sub-$4,700 levels.

At the time of writing, Ethereum was up by 0.72% to $4,668. A mixed start to the day saw Ethereum fall to an early morning low $4,606 before rising to a high $4,671.

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

For the day ahead

Ethereum would need to avoid the $4,582 pivot to bring the first major resistance level at $4,812 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $4,759. Barring an extended crypto rally, the first major resistance level and ATH $4,868 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $5,000 levels before any pullback. The second major resistance level sits at $4,990.

A fall through the $4,582 pivot would bring the first major support level at $4,404 into play. Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,300 levels. The second major support level sits at $4,173.

Looking at the Technical Indicators

First Major Support Level: $4,404

Pivot Level: $4,582

First Major Resistance Level: $4,812

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin rose by 1.05% on Tuesday. Following a 3.06% gain on Monday, Litecoin ended the day at $207.97.

Tracking the broader market, Litecoin fell to a mid-morning intraday low $197.7 before making a move.

Finding support at the first major support level at $198, Litecoin rallied to a mid-afternoon intraday high $220.2. Litecoin broke through the first major resistance level at $212 and the second major resistance level at $218. before easing back to end the day at sub-$210 levels.

At the time of writing, Litecoin was was up by 0.35% to $208.7. A mixed start to the day saw Litecoin fall to an early morning low $206.7 before rising to a high $208.8.

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

For the day ahead

Litecoin would need to move through the $209 pivot to bring the first major resistance level at $220 and the 38.2% FIB of $223 into play. Support from the broader market would be needed, however, for Litecoin to break out from $215 levels.

Barring an extended crypto rally, the 38.2% FIB would likely cap the upside.

In the event of an extended rally, Litecoin could test resistance $230 levels before any pullback. The second major resistance level sits at $231.

Failure to move through the $209 pivot would bring the first major support level at $197 into play. Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level sits at $186.

Looking at the Technical Indicators

First Major Support Level: $197

Pivot Level: $209

First Major Resistance Level: $220

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 0.86% on Tuesday. Following a 2.20% gain on Monday, Ripple’s XRP ended the day at $0.99958.

A mixed morning saw Ripple’s XRP fall to a late morning intraday low $0.9714 before making a move.

Steering clear of the first major support level at $0.9698, Ripple’s XRP rallied to an early afternoon intraday high $1.0299. Ripple’s XRP broke through the first major resistance level at $1.0071 and the second major resistance level at $1.0231.

A late pullback, however, saw Ripple’s XRP fall back to end the day at sub-$1.00 levels. The first major resistance level at $1.0071 pegged Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.41% to $1.0037. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.9943 before rising to a high $1.0037.

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

For the day ahead

Ripple’s XRP would need to avoid a fall back through the $1.0003 pivot to bring the first major resistance level at $1.0292 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.02 levels.. Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1.0299 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at the 38.2% FIB of $1.0659 before any pullback. The second major resistance level sits at $1.0588.

A fall back through the $1.003 pivot would bring first major support level at $0.9707 into play. Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.9417.

Looking at the Technical Indicators

First Major Support Level: $0.9707

Pivot Level: $1.003

First Major resistance Level: $1.0292

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

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