Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 17th, 2020 – FX Empire

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For the day ahead

Litecoin would need to avoid a fall through the 38.2% FIB and the $70.21 pivot to support a run at the first major resistance level at $78.27.

Support from the broader market would be needed, however, for Litecoin to break out from $75 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 resistance at $85 before any pullback. The second major resistance level sits at $82.70.

Failure to avoid a fall through the 38.2% FIB and the $70.21 pivot level would bring the first major support level at $65.78 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$60. The second major support level sits at $57.72.

Looking at the Technical Indicators

First Major Support Level: $65.78

Pivot Level: $70.21

First Major Resistance Level: $78.27

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 7.03% on Monday. Following on from a 0.38% gain on Sunday, Ripple’s XRP ended the day at $0.28817.

It was a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.26767 before making a move.

Steering clear of the first major support level at $0.2636, Ripple’s XRP rallied to a final hour intraday high $0.28989.

Ripple’s XRP broke through the first major resistance level at $0.2764 and the second major resistance level at $0.2831.

Resistance at $0.29 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 1.65% to $0.29292. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28771 before rising to a high $0.29347.

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

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