DAILY NOTION: Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 19th, 2020
Ethereum
Ethereum fell by 0.79% on Wednesday. Partially reversing a 4.73% rally from Tuesday, Ethereum ended the day at $478.96.
It was a bullish start to the day. Ethereum rallied to an early morning intraday high $495.68 before hitting reverse.
Ethereum broke through the first major resistance level at $491.77 before sliding to a mid-morning intraday low $456.5.
Ethereum would need to move back through the pivot level at $477.05 to support a run at the first major resistance level at $497.59.
Support from the broader market would be needed, however, for Ethereum to break back through to $490 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $495.68 would likely cap any upside.
Litecoin
Litecoin slid by 3.78% on Wednesday. Reversing a 3.51% rally from Tuesday, Litecoin ended the day at $73.48.
It was a bearish start to the day. Litecoin slid from an early morning intraday high $77.17 to a mid-morning intraday low $68.34.
Litecoin would need to avoid a fall back through the $73.00 pivot to support a run at the first major resistance level at $77.66.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $77.18.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
Ripple's XRP
Ripple’s XRP slid by 3.01% on Wednesday. Partially reversing a 5.08% gain from Tuesday, Ripple’s XRP ended the day at $0.29366.
It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.30820 before hitting reverse.
Falling short of the first major resistance level at $0.3096, Ripple’s XRP slid to a mid-morning intraday low $0.28049.
Ripple’s XRP will need to move back through the $0.2941 pivot level to support a run at the first major resistance level at $0.3077.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.
Barring an extended crypto rally, the first major resistance level Wednesday’s high $0.30820 would likely cap any upside.
Read more from the original article:
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.