ETHUSD and LTCUSD Technical Analysis – 25th NOV, 2021


ETHUSD: Double Bottom Pattern Above $4,000

On Nov 23rd, Ethereum touched a low of $4,030, after which the prices stabilized and, as of yesterday, entered into a consolidation phase.

In today’s Asian trading session, ETHUSD touched an intraday high of $4,334.

We can see a double bottom pattern above $4,000 which signifies a bullish reversal, end of a downtrend and a shift towards an uptrend.

In today’s European trading session, the price of Ethereum continues to rise slowly and is aiming for upsides of $4,400 and $4,500.

The fall in the levels of ETH seen last week occurred due to profit-taking; the bullish tone is back in the markets. The pair is gaining a bullish momentum and is also poised for a rally upwards of $4,500 that can happen any time now.

ETH is trading above its pivot level of $4,276 and moving in a bullish trend. The price of ETHUSD has already broken its classic resistance level of $4,298 and its Fibonacci resistance level of $4,290. In the US trading session, it is aiming towards the $4,400 handle.

All the major technical indicators are giving a STRONG BUY signal.

ETH is now trading above both the 100 hourly and 200 hourly simple moving averages.

  • Ethereum is in continuation of bullish channel
  • Short-term range appears to be bullish for ETHUSD
  • All the moving averages are giving a STRONG BUY signal
  • Average true range is indicating LESS market volatility

Ether: Bullish Trend Towards $4,500 Confirmed

ETHUSD was moving in a consolidation channel in the early Asian trading session today after which a bullish momentum started pushing the price above the $4,300 handle.

We can see that last week’s heavy-selling pressure has exhausted, and now buyers are returning to the markets.

The relative strength index is NEUTRAL which signifies a potential trend reversal today.

It is best to enter into long positions in Ethereum at the present market level of $4,300 with targets of $5,000 the next month.

The average true range is indicating low market volatility as we can see a 12% drop in the trading volume as compared to yesterday. This is because the market was in a consolidation phase and the buyers were waiting for a bullish pattern which is clearly visible now.

ETH has gained +0.63% with a price change of +26.94$ in the past 24hrs and has a trading volume of 18.729 billion USD.

The Week Ahead

Ether is printing above $4,300 today, and we could see $4,500 this week.

The medium-to-long term outlook for Ether remains bullish, targeting $5,000 and above in the next month.

We can already see an increase in Ethereum’s market capitalization which currently stands at $510 billion.

The price of ETHUSD has already broken its key resistance level of $4,270 and is about to break its next resistance level of $4,335.

We could see Ether printing at above $4,500 next week and aim upsides towards the $5,000 handle.

At present, the market is offering a good buying opportunity for long-term traders who can hold till it reaches $10,000 in 2022.

Technical Indicators:

The commodity channel index (14-day): at 56.55 indicating a BUY

Moving averages convergence divergence (14-day): at 11.85 indicating a BUY

StochRSI (14-day): at 69.83 indicating a BUY

Rate of price change: at 2.121 indicating a BUY

LTCUSD: Cup and Handle Pattern Above $200

Litecoin was in a downtrend last week, touched an intraday low of 206.04 yesterday, and has entered into a consolidation phase.

In today's European trading session, we can see a cup-and-handle pattern which signifies that the prices are now moving in a bullish continuation pattern.

This uptrend shift has been confirmed as the prices of LTCUSD are now trading above the $210 handle. It touched an intraday high of 222.66 and is aiming for an upside above $230.

Litecoin is now facing its major resistance levels of $219 and $222.

Litecoin is now trading just above its 100 hourly simple moving average and just below its 200 hourly simple moving average. The price of LTCUSD is about to break its pivot level of 216.93.

StochRSI is NEUTRAL which signifies that the markets were ranging in a consolidation phase.

The short-term outlook for Litecoin has turned bullish.

  • All major technical indicators are giving a STRONG BUY signal
  • All MAs are giving a BUY signal
  • A confirmed uptrend is seen in the short-term range above $200
  • The average true range is indicating LESS market volatility

Litecoin: Bullish Channel Above $200 Confirmed

The price of Litecoin has come out of a consolidation phase today and is now moving in a firm bullish channel above the $200 handle in the European trading session.

The short-term bearish phase for Litecoin seems to be over now with fresh buyers returning to the markets. We can see LTCUSD touching levels of $250 in the coming days.

The price of LTCUSD is now facing its classic resistance level of 220.16 and Fibonacci resistance level of 218.93, after which the path towards $230 will get cleared.

Litecoin remains an attractive option for long-term crypto investors who are willing to shift from traditional investment options like gold and silver for higher returns.

Litecoin trading volume has increased by 5.44% as compared to yesterday due to more buyers entering the markets.

In the last 24hrs LTCUSD has gone UP by 0.64% with a price change of 1.36$ and has a 24hr trading volume of 1.930 billion USD.

The Week Ahead

Litecoin is witnessing increased trading volumes today as compared to yesterday, we can see the prices of LTCUSD touching $225 very soon.

Litecoin needs to clear its resistance levels of $222 after which we can aim for upsides of $235 and $245.

The commodity channel index is NEUTRAL, which also indicates a potential shift in the market trend, and a bullish reversal can be seen today.

The average directional index is above 35 which also signifies a very strong trend.

Some crypto analysts also predicted that the price of Litecoin would touch or surpass the $1,000 mark in the next year, and, as such, it remains as an attractive investment option for long-term investors.

Technical Indicators:

Ultimate oscillator: at 51.33 with a BUY

Stoch (9,6): at 58.58 with a BUY

Moving averages convergence divergence (12,26): at 1.705 indicating a BUY

Average directional index (14-day): at 39.33 indicating a BUY

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