Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – December 6th, 2021

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Ethereum

Ethereum rose by 1.90% on Sunday. Partially reversing a 2.17% decline from Saturday, Ethereum ended the week down by 2.21% to $4,203.

After a mixed start, Ethereum rose to a mid-day intraday high $4,257 before hitting reverse. Falling short of the first major resistance level at $4,385, Ethereum slid to a mid-afternoon intraday low $4,038.

Steering well clear of the first major support level at $3,720, however, Ethereum moved back through to $4,200 levels and into positive territory.

At the time of writing, Ethereum was down by 1.62% to $4,135. A mixed start to the day saw Ethereum rise to an early morning high $4,210 before falling to a low $4,135.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move back through the $4,166 pivot to bring the first major resistance level at $4,294 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,250 levels. Barring an extended rally, the first major resistance level and resistance at $4,300 should limit the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at the $4,500 levels before any pullback. The second major resistance level sits at $4,385.

Failure to move back through the $4,166 pivot would bring the first major support level at $4,075 into play. Barring another extended sell-off, however, Ethereum should steer clear of sub-$3,900 levels. The second major support level at $3,947 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,075

Pivot Level: $4,166

First Major Resistance Level: $4,294

23.6% FIB Retracement Level: $3,738

38.2% FIB Retracement Level: $3,039

62% FIB Retracement Level: $1,909

Litecoin

Litecoin slid by 3.82% on Sunday. Following a 13.4% tumble from Saturday, Litecoin ended the week down by 21.54% to $156.63.

A mixed start to the day saw Litecoin rise to an early morning intraday high $165.28 before hitting reverse. Falling short of the 23.6% FIB of $178 and the first major resistance level at $189, Litecoin slid to a mid-afternoon intraday low $148.51.

Steering clear of the first major support level at $137, however, Litecoin moved back through to $156 levels to reduce the deficit.

At the time of writing, Litecoin was down by 3.05% to $151.85. A bearish start to the day saw Litecoin fall from an early morning high $156.71 to a low $151.85.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move through the $157 pivot to bring the first major resistance level at $165 into play. Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.

Barring an extended crypto rally, the first major resistance level and Saturday’s high $165.28 would likely cap the upside.

In the event of an extended rally, Litecoin could test resistance at the 23.6% FIB of $178 before any pullback. The second major resistance level sits at $174.

Failure to move through the $157 pivot would bring the first major support level at $148 into play. Barring another extended sell-off, Litecoin should steer clear of sub-$140 levels. The second major support level at $140 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $148

Pivot Level: $157

First Major Resistance Level: $165

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 4.85% on Sunday. Following an 8.03% slide on Saturday, Ripple’s XRP ended the week down by 16.95% to $0.8054.

A mixed morning saw Ripple’s XRP rise to an early morning intraday high $0.86185 before hitting reverse. While falling short of the first major resistance level at $0.9733, Ripple’s XRP briefly broke through the 23.6% FIB of $0.8533.

The reversal, however, saw Ripple’s XRP fall to a mid-afternoon intraday low $0.77200. Steering clear of the first major support level at $0.6737, however, Ripple’s XRP found support to end the day at $0.80 levels.

At the time of writing, Ripple’s XRP was down by 3.30% to $0.77883. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.80561 to a low $0.77883.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP would need move through the $0.8131 pivot to bring the 23.6% FIB of $0.8533 and the first major resistance level at $0.8542 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $0.85 levels. Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.86185 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $0.95 before any pullback. The second major resistance level sits at $0.9029.

Failure to move through the $0.8131 pivot would bring first major support level at $0.7643 into play. Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$0.75 levels. The second major support level sits at $0.7232.

Looking at the Technical Indicators

First Major Support Level: $0.7643

Pivot Level: $0.8131

First Major resistance Level: $0.8542

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

This article was originally posted on FX Empire

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