Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 27th, 2020

For the day ahead

Fibo Quantum

Litecoin would need to move through the 38.2% FIB and the $72.89 pivot to support a run at the first major resistance level at $81.48.

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 an extended breakout, Litecoin would likely test resistance at $85 before any pullback. The second major resistance level sits at $91.85.

Failure to move through the $72.89 pivot level would bring the first major support level at $62.52 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$60 levels. The second major support level sits at $53.93.

Looking at the Technical Indicators

First Major Support Level: $62.52

Pivot Level: $72.89

First Major Resistance Level: $81.48

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slumped by 14.78% on Thursday. Following on from a 9.08% slide on Wednesday, Ripple’s XRP ended the day at $0.5370.

It was another mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.6518 before hitting reverse.

Falling short of the first major resistance level at $0.7093, Ripple’s XRP tumbled to a late intraday low $0.45501.

Ripple’s XRP fell through first major support level at $0.5665 and the second major support level at $0.5025. More significantly, however, Ripple’s XRP also slid through the 23.6% FIB of $0.6274 and the 38.2% FIB of $0.5285.

Finding support through the late morning, however, Ripple’s XRP moved back through the 38.2% FIB to wrap up the day at $0.53 levels.

At the time of writing, Ripple’s XRP was down by 1.96% to $0.52645. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.5370 to a low $0.5220.

While steering clear of the major support and resistance levels, Ripple’s XRP fell back through the 38.2% FIB of $0.5285.