Ethereum, Litecoin & Ripple XRP Technical Analysis – Nov 24th

Crypto majors yet to find direction after an early morning correction

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Last Updated November 24th 2021
5 Min Read

Ethereum

Ethereum was bullish for the better part of Tuesday. By the end of the day, it was up by 3%.

Ethereum started trading bullish Tuesday. This followed a bullish reversal in late Monday trading after Ethereum hit a low of $4023.30.

Bulls were in control for the better part of Tuesday morning, and just before daybreak, Ethereum broke through the 23.6% Fibonacci resistance at $4149.68.

However, Ethereum could not sustain momentum above the 23.6% Fibonacci resistance level with the broader market overall bearish.

What followed was a correction, and by mid-morning, Ethereum had hit the multi-week support at $4108.12.

This support held strong, and Ethereum bounced off it, triggering a continuation of the bullish momentum that had started earlier in the day.

The rally was quite strong, and by midday, bulls had pushed Ethereum through the 38.2% Fibonacci resistance at $4268.70.

However, this was followed by a sharp reversal that saw Ethereum retest the 23.6% Fibonacci, then support, at $4149.68.

The 23.6% Fib support held and saw bulls take control from that point. Ethereum had pushed through two key resistance levels by the end of the day, namely the 38.2% Fibonacci at $4268.70 and the 50.0% Fibonacci resistance at $4365.05.

Ethereum started Wednesday trading bearish. This saw it lose control of the 50.0% Fibonacci resistance within the first hour of the day.

The selloff was quite strong, and by daybreak, bears had breached the 38.2% Fibonacci, now support at $4268.70.

At the time of going to press, Ethereum had made a slight pullback and retested the 38.2% Fibonacci, now resistance, at $4268.70.

ETH/USD daily chart 112421

A glance at the day ahead

The key levels to watch in the day are the 38.2% Fibonacci resistance at $4268.05 and the 23.6% Fibonacci support at $4149.68.

If bulls take control and push Ethereum through the 38.2% Fibonacci resistance, the next key level to watch would be the 50.0% Fibonacci resistance at $4365.05.

If this resistance is broken, then prices above $4400 could be seen in the day.

On the other hand, if bears take control and breach the 23.6% Fibonacci support, the next key level to watch would be the multi-week support at $4108.12.

If this support is broken, then Ethereum could test prices below $4000 in the day.

However, if volumes drop, Ethereum could trade between the 38.2% resistance at $4268.70 and the 23.6% Fibonacci support at $4149.68.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $4268.70

Key support: 23.6% Fibonacci at $4149.68

Litecoin

Litecoin was bullish all through Tuesday, albeit with low volumes.

By the end of the day, it was up by 1%.

Litecoin started Tuesday trading bullish after bears lost momentum in late Monday trading. 

However, momentum was weak, and just before daybreak, Litecoin-bears retook control.

Bears were in control until mid-morning when Litecoin hit intraday support at $206.31.

This support proved to be quite strong, and Litecoin bounced off it. Litecoin was in the green until late afternoon when it hit weekly resistance at $214.66.

Bears attempted to take control at this support but failed. This saw bulls regain control, and by the end of the day, Litecoin was trading at $214.66 weekly resistance.

Litecoin started Wednesday trading bullish, a continuation of Tuesday’s momentum. Within the first three hours of the day, Litecoin had hit the 23.6% Fibonacci resistance at $218.64.

However, bulls were not strong enough to push Litecoin through this resistance. What followed was a huge correction through the weekly resistance, now support, at daybreak.

However, bears were not strong enough to push Litecoin to the intra-day support at $206.31.

This saw bulls retake control, and at the time of going to press, Litecoin was testing the weekly resistance at $214.66.

LTC/USD daily chart 112421

A glance at the day ahead

The key levels to watch in the day are the weekly resistance at $218.64 and the intra-day support at $206.31.

If bulls take control and push Litecoin through the weekly resistance, the next key level to watch would be the 23.6% Fibonacci resistance at $218.64.

If this resistance is broken, then prices above $222 could be seen in the day.

On the other hand, if bears take control and breach the intra-day support at $206.31, the next key level to watch would be the multi-month support at $199.30.

If this support is broken, Litecoin could test prices below $180 in the day.

However, if volumes drop, Litecoin could trade between the weekly resistance at $214.66 and the intra-day support at $206.31.

A glance at the technicals

Key resistance: Weekly resistance at $214.66

Key support: Intraday support at $206.31

Ripple XRP

Ripple XRP had a mixed day on Tuesday but still ended the day higher by 1.2%.

XRP started the day bullish after hitting intraday support at $1.03037 in late Monday trading.

XRP rallied off this support in early morning trading, but just before daybreak, bulls lost control.

What followed was a correction back to the intra-day support at $1.03037 by mid-morning.

Bears tried to push XRP through this support but failed. This triggered a bullish reversal that lasted the whole day.

By the end of the day, XRP was trading at the 23.6% Fibonacci resistance at $1.06353.

XRP started Wednesday trading bearish after bullish momentum faded at the 23.6% Fibonacci resistance.

Bears were in control all morning, and at the time of going to press, XRP was close to the intra-day support at $1.03037.

XRP/USD daily chart 112421

A glance at the day ahead

The key levels to watch in the day are the 23.6% Fibonacci resistance at $1.06353 and the intra-day support at $1.03037.

If bulls take control and push XRP through the 23.6% resistance, the next key level to watch would be the 38.2% Fibonacci resistance at $1.09337.

If this resistance is broken, then prices above $1.10 could be seen in the day.

On the other hand, if bears take control and breach the intra-day support at $1.03037, the next key level to watch would be the multi-month support at $1.01521.

If this support is broken, then XRP could test prices below $1 in the day.

However, if volumes drop, XRP could trade between the 23.6% resistance at $1.06353 and the intra-day support at $1.03037.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $1.06353

Key support: Intraday support at $1.03037