Ethereum, Litecoin & Ripple’s XRP Technical Analysis – 15th Nov

Bulls take control early in the week as volumes rise

Last Updated November 15th 2021
5 Min Read

Ethereum

Ethereum was volatile all through last week, and by the end of the week, was trading pretty much where it started.

It started the week bullish, a continuation of the bullish momentum that had been running for two months.

This momentum accelerated on Tuesday, but volumes were low, an indicator of bull exhaustion.

On Wednesday, Ethereum rallied, and made a new high of $4862.04. However, as Tuesday’s price action had confirmed, bullish exhaustion was present.

This led to profit taking, and a huge correction by end of day Wednesday. Ethereum closed the day at $4017.92, a key weekly support level.

This support proved to be quite strong, and Ethereum bounced back on Thursday, and ate into most of Wednesday’s losses.

However, bulls failed to push it back to the all-time highs of $4862.04. This was an indicator that bullish momentum was still weak, and bears ended up taking control by the end of the day.

Bearish momentum was still prevalent on Friday, but was in decline. Over the weekend, bearish tried to push Ethereum through the weekly support at $4539.29, but failed.

This energized bulls, and saw them take back control in early Monday trading.  At the time of going to press, bullish momentum was on the rise.

ETH/USD daily chart 111521

A glance at the week ahead

In the week, the key levels to watch are the new all-time highs resistance at $4862.04, and weekly support at $4539.29.

If bulls take control and push Ethereum through the all-time highs at $4862.04, then it could make new highs in the week.

On the other hand, if bears take control and push Ethereum through the weekly support at $4539.29, then prices below $4200 could be seen in the week.

However, if volumes are low, Ethereum could trade between the all-time highs at $4862.04, and the weekly support at $4539.29.

A glance at the technicals

Key resistance: All-time highs at $4862.04

Key support: Weekly support at $4539.29

Litecoin

Litecoin was bullish for the better of the week. By the end of the day, it was up by 34%.

It started the week in a bullish breakout, and by the end of Monday’s trading session, it had pushed through the 38.2% Fibonacci resistance at $221.19.

This momentum accelerated on Tuesday, and Litecoin pushed through the 50.0% Fibonacci resistance at $257.70.

On Wednesday, upside momentum accelerated and hit a high of 61.8% Fibonacci at $293.50. However, bears took control shortly after, and pushed Litecoin back to the 50.0% Fibonacci, now support at $257.70.

Bulls took control at this price level on Thursday, but after such a huge rally, momentum was weak.

What followed was a bearish correction that saw Litecoin push through the 50.0% Fib support at $257.70 on Friday.

However, with overall market momentum bullish, Litecoin rallied over the weekend and ate into the losses from mid-week.

Litecoin has started the new week bullish, a continuation of the momentum that started over the weekend. However, momentum was weak, as the broader was yet to find a clearly defined direction.

LTC/USD daily chart 111521

A glance at the week ahead

In the week, the key levels to watch are the 61.8% resistance at $293.50, and the 50.0% Fibonacci support at $257.70.

If bulls take control and push Litecoin through the 61.8% Fib resistance at $293.50, then it could test prices above $300 in the week.

On the other hand, if bears take control and push Litecoin through the 50.0% support at $257.70, then prices below $230 could be seen in the week.

However, if volumes are low, Litecoin could trade between the 61.8% Fibonacci resistance at $293.50, and the 50.0% support at $257.70.

A glance at the technicals

Key resistance: 61.8% Fibonacci at $293.50

Key support: 50.0% Fibonacci at $257.70

Ripple XRP

Ripple XRP was in a correction all through last week. By the end of the week, it was down by 6% 

It started the day bullish, a continuation of the upside momentum that had built up in the previous week.

However, momentum was weak, and on Tuesday, there was a tie between bulls and bears.

By Wednesday, bearish volumes increased, and by the end of the day, XRP had tested the 50.0% Fibonacci support at $1.12098.

Bulls attempted to take control on Thursday, but volumes were low. The result was a continuation of the bearish momentum on Friday.

Volumes dropped from that point on and remained low all through the weekend.

XRP has started the week bullish after bearish volumes dried up over the weekend. At the time of going to press, bullish momentum was on the rise.

XRP/USD daily chart 111521

A glance at the week ahead

In the week, the key levels to watch are the 38.2% resistance at $1.31749, and the 50.0% Fibonacci support at $1.12098.

If bulls take control and push XRP through the 38.2% Fib resistance at $1.31749, the next key level to watch would be the 23.6% Fibonacci resistance at $1.56438.

If this resistance is broken, prices above $1.60 could be seen in the week.

On the other hand, if bears take control and push XRP through the 50.0% support at $1.12098, then prices below $1.06 could be seen in the week.

However, if volumes are low, XRP could trade between the 38.2% Fibonacci resistance at $1.31749, and the 50.0% support at $1.12098.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $1.31749

Key support: 50.0% Fibonacci at $1.12098

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