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Daily Tech Analysis — December 1st, 2021 — Ethereum, Litecoin, and Ripple’s XRP
Following a strong start to the week, failing to break past Tuesday’s highs would put the main indices under pressure.
Ethereum
On Tuesday, the price of Ethereum increased by 4.16 percent. Ethereum closed the day at $4,635, up 3.51 percent from the previous day.
Ethereum fell to a late morning intraday low of $4,351 before making a move in a mixed morning. Keeping clear of the first key support level at $4,332, Ethereum surged to an intraday high of $4,759 in the early afternoon.
Ethereum broke through the first major resistance level at $4,516, as well as the second major resistance level at $4,583. However, as it came up against the third key resistance level at $4,767, Ethereum fell down to conclude the day at levels below $4,700.
Ethereum was up 0.72 percent to $4,668 at the time of writing. Ethereum had a rocky start to the day, falling to an early morning low of $4,606 before rebounding to a high of $4,671.
Early on, Ethereum failed to test the main support and resistance levels.
For the day ahead
To reach the first significant resistance level at $4,812, Ethereum would need to dodge the pivot around $4,582.
