Ethereum, Litecoin, & Ripple XRP Technical Analysis – Dec 3rd

Crypto majors’ range-bound as volumes drop across the market

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Last Updated December 3rd 2021
5 Min Read

Ethereum

Ethereum had a sluggish performance all through Thursday. By the end of the day, it was down by about a percentage.

Ethereum started

Thursday trading bullish after bouncing off the 61.8% Fibonacci support at $45559.54 late Wednesday trading.

However, this momentum was short-lived, and just three hours into the day, bears took control.

Bearish momentum was quite strong, and by daybreak, Ethereum had crashed through 61.8% Fibonacci support and briefly pushed through the 50.0% Fibonacci support.

However, the push through the 50.0% Fibonacci support was rejected as buyers bought the dip in large volumes.

By mid-morning, what followed was a rally back to the 61.8% Fibonacci, now resistance.

However, Ethereum bulls lost momentum slightly above the 61.8% Fib without much support from the broader market.

Bearish momentum was not that strong either, and Ethereum oscillated around the 61.8% Fibonacci until late afternoon.

At this point, an increase in bearish momentum increased and pushed Ethereum back to the 50.0% Fibonacci support at $4466.13 by early evening.

Bears managed to push Ethereum through the 50.0% Fibonacci, a move that was sharply rejected for the second time in the day.

What followed was an increase in bullish momentum for the remainder of the evening.

Ethereum started Friday trading with the bullish momentum that had started in late Thursday trading.

However, bulls quickly lost momentum after Ethereum hit the 61.8% Fibonacci resistance by hour two of the day.

This saw bears push Ethereum back to the 50.0% Fibonacci support at $4466.13 just before daybreak. Ethereum bounced off this support and, at the time of going to press, was trading at the 61.8% Fibonacci resistance at $4559.54.

ETH/USD daily chart 120321

A glance at the day ahead

The key levels to watch are the 61.8% Fibonacci resistance at $4559.54 and the 50.0% Fibonacci support at $4466.13.

If bulls take control and push Ethereum through the 61.8% Fibonacci resistance at $4559.64, the next key level to watch would be the December 1st high of $4777.59.

If this resistance is broken, Ethereum could retest its all-time highs of $4800 within the day.

On the other hand, if bears take control and push Ethereum through the 50.0% Fibonacci support at $4466.13, the next key level to watch would be the 38.2% Fibonacci support at $4466.13.

If by any chance the 38.2% Fib support is broken, prices below $4200 could be seen in the day.

A glance at the technicals

Key resistance: 61.8% Fibonacci at $4559.54

Key support: 50.0% Fibonacci at $4466.13

Litecoin

Litecoin was directionless for most of Thursday. By the end of the day, it was down by 0.50%.

Litecoin started Thursday trading bullish after a strong bounce off the 50.0% Fibonacci support in late Wednesday trading.

However, bulls lost momentum just before daybreak, with the broader market bearish. What followed was a crash through the 50.0% Fibonacci support at $205.90 and briefly tested the 38.2% Fibonacci support at $200.28.

Litecoin bounced off the 38.2% Fibonacci support with high volumes, and bulls remained in control all through the day.

By the end of the day, Litecoin was trading at the 50.0% Fibonacci, now resistance at $205.90.

Litecoin started Friday trading bearish after bulls lost momentum at the 50.0% Fib resistance.

By daybreak, bearish momentum had pushed Litecoin back to the 38.2% Fibonacci support at $200.28.

However, this support proved to be too strong for bears. At the time of going to press, Litecoin was close to testing the 50.0% Fibonacci resistance at $205.90.

LTC/USD daily chart 120321

A glance at the day ahead

The key levels to watch are the 50.0% Fibonacci resistance at $205.90 and the 38.2% Fibonacci support at $200.23.

If bulls take control and push Litecoin through the 50.0% Fibonacci resistance at $205.90, the next key level to watch would be the 61.8% Fibonacci resistance at $211.41.

If this resistance is broken, Litecoin could test prices above $217 in the day.

On the other hand, if bears take control and push Litecoin through the 38.2% Fibonacci support at $200.28, the next key level to watch would be the 23.6% Fibonacci support at $193.23.

If by any chance the 23.6% Fib support is broken, prices below $190 could be seen in the day.

A glance at the technicals

Key resistance: 50.0% Fibonacci at $205.90

Key support: 38.2% Fibonacci at $200.28

Ripple XRP

Ripple XRP had a mixed day on Thursday, and by the end of the day, was down by about 0.90%.

XRP started the day bearish, continuing the selloff that started in late Wednesday trading. By daybreak, it had pushed through the 50.0% Fibonacci support at $0.97984 and briefly tested the 38.2% Fibonacci support at $0.95770.

However, the 38.2% Fib support proved to be quite strong, and XRP bounced off it at daybreak.

XRP remained in the green for the rest of the day, albeit with low volumes. By the end of the day, it was trading at 50.0% Fibonacci, now resistance at $0.97984.

XRP started Friday trading bearish after bulls failed to push it through the 50.0% Fibonacci resistance in late Thursday trading.

Bears remained in control until daybreak when XRP hit the 38.2% Fibonacci support at $0.95770.

However, bearish volumes were low too, and XRP bounced off the 38.2% Fibonacci support in mid-morning trading.

When going to press, XRP was trading at the 50.0% Fibonacci resistance at $0.97984, and momentum was weakening.

XRP/USD daily chart 120321

A glance at the day ahead

The key levels to watch are the 50.0% Fibonacci resistance at $0.97984 and the 38.2% Fibonacci support at $0.95770.

If bulls take control and push XRP through the 50.0% Fibonacci resistance at $0.97984, the next key level to watch would be the 61.8% Fibonacci resistance at $1.00199.

If this resistance is broken, XRP could hit prices above $1.012 within the day.

On the other hand, if bears take control and push XRP through the 38.2% Fibonacci support at $0.95770, the next key level to watch would be the 23.6% Fibonacci support at $0.93047.

If by any chance the 23.6% Fib support is broken, prices below $0.90 could be seen in the day.

A glance at the technicals

Key resistance: 50.0% Fibonacci at $0.97984

Key support: 38.2% Fibonacci at $0.95770