Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 28th, 2020

For the day ahead

Litecoin would need to move back through the $69.35 pivot to support a run at the first major resistance level at $73.43.

Support from the broader market would be needed, however, for Litecoin to break out from the 38.2% FIB of $71.

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

In the event of an extended breakout, Litecoin would likely test the second major resistance level at $77.65.

Failure to move back through the $69.35 pivot level would bring the first major support level at $65.13 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$60 levels. The second major support level at $61.05 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $65.13

Pivot Level: $69.35

First Major Resistance Level: $73.43

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 4.64% on Friday. Partially reversing Thursday’s 14.78% slump, Ripple’s XRP ended the day at $0.56192.

It was another mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.5880 before hitting reverse.

Falling short of the first major resistance level at $0.6409, Ripple’s XRP fell to a late morning intraday low $0.49552.

While steering clear of the first major support level at $0.4441, Ripple’s XRP fell through the 38.2% FIB of $0.5285.

Finding support going into the 2^nd half of the day, Ripple’s XRP moved back through to $0.56 levels to end the day in the green.

The recovery saw Ripple’s XRP break back through the 38.2% FIB of $0.5285.

At the time of writing, Ripple’s XRP was down by 0.63% to $0.55837. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.56872 before falling to a low $0.55641.

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