After testing the support given by 75 percent Fibonacci retracement level twice between September and October, Ethereum was finally able to break below it to hit a low $133.6 on Nov. 25.
The 75 Fib became resistance while the 78.6 Fib became support.
This area sits between $144 and $157. A break above $157 could lead to an upswing to the 65 Fib at $181. Meanwhile, a break below $144 could take ETH down to the 83.6 Fib at $129. If that level of support fails, then Ethereum could plunge to $108.XRP. XRP spent nearly 100 days trading within the $0.24 support and the $0.30 resistance level.
On the week of Nov. 18, the support barrier gave up, and this crypto plummeted to the next level of support at $0.20.
A spike in the buying pressure behind XRP that allows it to break above the middle peak of the Adam and Eve pattern would signal a further bullish impulse.
Breaking below the $0.21 support level could take XRP to hit a new lower low.
On the downside, the next levels of support sit at $0.17 and $0.15.Litecoin.
On its way down, Litecoin could find support around the following support levels: $41, $37, and $34. Breaking through all of these levels of support would take this crypto to reach the target presented by the bear flag in the 1-week chart.
If LTC can close above $48.5, it could invalidate the bearish outlook and try to test the next level of resistance at $53. And, if the volume behind it is significant enough, it could try to push further to the next resistance level at $58.Overall sentiment.
As a result, one could wait for a break below support or above resistance before entering a trade.
Ethereum, XRP, and Litecoin remain stagnant; will will they head next?
Published on Dec 7, 2019
by Cryptoslate | Published on Coinage
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