Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 4th, 2021

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Ethereum

Ethereum slid by 6.59% on Friday. Following a 1.58% loss on Thursday, Ethereum ended the day at $4,217.

After a mixed morning, Ethereum rose to an early afternoon intraday high $4,663 before hitting reverse. Ethereum broke through the first major resistance level at $4,623 before sliding to a late intraday low $4,036.

The extended sell-off saw Ethereum fall through the day’s major support levels. Steering clear of sub-$4,000 levels, however, Ethereum broke back through the third major resistance level at $4,124 to end the day at $4,200 levels.

At the time of writing, Ethereum was down by 0.35% to $4,202. A mixed start to the day saw Ethereum rise to an early morning high $4,240 before falling to a low $4,193.

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

For the day ahead

Ethereum would need to move through the $4,305 pivot to bring the first major resistance level at $4,575 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,300 levels. Barring an extended rally, the first major resistance level 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 $4,932.

Failure to move through the $4,305 pivot would bring the first major support level at $3,948 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,700 levels and the second major support level at $3,679. The 23.6% FIB of $3,738 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,948

Pivot Level: $4,305

First Major Resistance Level: $4,575

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin slid by 7.52% on Friday. Following a 2.56% decline on Thursday, Litecoin ended the day at $188.21.

Tracking the broader market, Litecoin rose to an early afternoon intraday high $208.24 before hitting reverse. Falling short of the first major resistance level at $209, Litecoin slid to a late intraday low $180.15.

Litecoin fell through the day’s major support levels before finding support. Steering clear of the 23.6% FIB of $178, Litecoin broke back through the third major support level at $184 to end the day at $188 levels.

At the time of writing, Litecoin was down by 0.63% to $187.02. A mixed start to the day saw Litecoin rise to an early morning high $189.28 before falling to a low $186.51.

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

For the day ahead

Litecoin would need to move through the $192 pivot to bring the first major resistance level at $204 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $208.24 would likely cap the upside.

In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $220.

Failure to move through the $192 pivot would bring the 23.6% FIB of $178 and the first major support level at $176 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $164.

Looking at the Technical Indicators

First Major Support Level: $176

Pivot Level: $192

First Major Resistance Level: $204

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 5.14% on Friday. Following a 1.73% fall on Thursday, Ripple’s XRP ended the day at $0.92282.

After a mixed morning, Ripple’s XRP rose to an early afternoon intraday high $0.9841 before hitting reverse. Falling short of the first major resistance level at $0.9896, Ripple’s XRP slid to a late intraday low $0.8945.

The extended sell-off saw Ripple’s XRP fall through the day’s major support levels. Finding late support, however, Ripple’s XRP broke back through the third major support level at $0.9080 to end the day at $0.92 levels.

At the time of writing, Ripple’s XRP was down by 0.68% to $0.91659. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.92424 before falling to a low $0.91489.

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 $0.9338 pivot to bring the first major resistance level at $0.9731 into play.

Support would be needed, however, for Ripple’s XRP to break out from $0.95 levels. Barring an extended crypto rally, the first major resistance level and Friday’s high $0.9841 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.00 before any pullback. The second major resistance level sits at $1.0234.

Failure to move through the $0.9338 pivot would bring first major support level at $0.8835 into play. Barring an extended sell-off, however, Ripple’s XRP should avoid the second major support level at $0.8443. The 23.6% FIB of $0.8533 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.8835

Pivot Level: $0.9338

First Major resistance Level: $0.9731

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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