Ethereum, Litecoin & Ripple’s XRP Technical Analysis – Nov 18th

Bears are still in control but selling volumes are in decline

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Last Updated November 18th 2021
5 Min Read

Ethereum

Ethereum traded sideways all through Wednesday and ended the day pretty much where it started.

It started bullish and pushed through the 23.6% Fibonacci resistance within the first hour.

However, buying volumes were low, and by the second hour of the day, bears retook control.

The 23.6% Fibonacci, now support, gave way, and just before daybreak, Ethereum had tested the multi-month support at $4063.84.

This support held, and Ethereum was bullish for the better part of the morning, up until the early afternoon when it hit the 23.6% Fibonacci resistance at $4254.79.

However, this resistance proved too strong for bulls and a minor correction followed. Volumes were low though, and after a 3-day selloff, Ethereum was getting oversold.

This saw bulls retake control in the early evening, and for the rest of the day. By the last hour of the day, Ethereum was trading at the 23.6% Fibonacci resistance.

Ethereum started Thursday trading in a continuation of the bullish momentum that started in late Wednesday trading.

Bulls were in control for most of the early morning. However, bullish momentum waned just before daybreak, when it hit intraday resistance at $4341.92.

At the time of going to press, Ethereum had retested the 23.6% Fibonacci, which is now supported at $4254.79.

ETH/USD daily chart 111821

A glance at the day ahead

In the day, the key levels to watch are the intra-day resistance at $4341.92, and the 23.6% Fibonacci support at $4254.79.

If bulls take control and push Ethereum through the intra-day resistance at $4341.92, the next key level to watch would be the 38.2% Fibonacci support at $4254.79.

If the 38.2% resistance is broken, prices above $4400 could be seen in the day.

On the other hand, if bears take control and push Ethereum through the 23.6% Fibonacci support at $4254.79, the next key level to watch would be the multi-month support at $4063.84.

If the multi-month support is broken, prices below $4000 could be seen in the day.

A glance at the technicals

Key resistance: Intraday resistance at $4341.92

Key support:  23.6% Fibonacci at $4254.79

Litecoin

Litecoin was range-bound all through Wednesday. By the end of the day, it was trading around the same price level where it had started.

Litecoin started the day bearish, a continuation of the selloff of the last three days. Just before daybreak, it hit the intra-day support at $219.37.

It bounced off this support, and by midday, hit the 61.8% Fibonacci resistance at $233.44.

Bulls failed to push Litecoin through this resistance, but selling volumes were low as well. This saw Litecoin trade in a range just below the 61.8% Fibonacci resistance at $233.44, all through the evening.

Litecoin started Thursday trading sideways, a continuation of late Thursday’s price action. However, bears took control at daybreak and pushed Litecoin to intra-day support at $219.37. 

At the time of going to press, Litecoin was trading at $219.37 on the intra-day support.

LTC/USD daily chart 111821

A glance at the day ahead

In the day, the key levels to watch are the 61.8% resistance at $233.44, and the intra-day support at $219.37.

If bulls take control and push Litecoin through the 61.8% Fibonacci resistance at $233.44, the next key level to watch would be the 50.0% Fibonacci resistance at $245.35.

If the 50.0% resistance is broken, prices above $250 could be seen in the day.

On the other hand, if bears take control, and push Litecoin through the intraday support at $219.3, then prices below $215 could be seen in the day.

A glance at the technicals

Key resistance: 61.8% Fibonacci at $233.44

Key support:  Intraday support at $219.37

Ripple’s XRP

Ripple’s XRP was slightly bullish on Wednesday, and by the end of the day, was up by about 0.60%.

XRP started the day bearish, a continuation of the selloff that started on Tuesday.  However, just before daybreak, bears lost momentum.  This saw bulls take control up until early afternoon when XRP hit the 23.6% Fibonacci resistance at $1.11199.

There was a slight correction at this price level before bulls took control for the rest of the day.

XRP started Thursday trading bullish, a continuation of the buying momentum that started on Wednesday.

Just before daybreak, XRP had pushed through the 23.6% Fibonacci at $1.11199. Momentum was quite strong and XRP briefly pushed through the 38.2% Fibonacci resistance at $1.15731.

However, upside momentum declined at this price level, and bears took control. At the time of going to press, XRP was trading at the 23.6% Fibonacci, now support at $1.11199.

XRP/USD daily chart 111821

A glance at the day ahead

In the day, the key levels to watch are the 38.2% resistance at $1.15731, and the 23.6% Fibonacci at $1.11199. 

If bulls take control and push XRP through the 38.2% Fibonacci resistance at $1.15731, the next key level to watch would be the 50.0% Fibonacci resistance at $1.19400.

If the 50.0% resistance is broken, prices above $1.20 could be seen in the day.

On the other hand, if bears take control and push XRP through the 23.6% Fibonacci support at $1.1119, the next key level to watch would be the intra-day support at $1.06811.

If this support is broken, prices below $1.05 could be seen in the day.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $1.15731

Key support: 23.6% Fibonacci at $1.11199