Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 14th, 2020

For the day ahead

Litecoin would need to avoid a fall through the $49.84 pivot to support a run at the first major resistance level at $50.82.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $50.72.

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

In the event of another breakout, Litecoin would likely test the second major resistance level at $51.70. Resistance at $52 would likely cap any upside, however.

Failure to avoid a fall through the $49.84 pivot level would bring the first major support level at $48.96 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $47.98.

Looking at the Technical Indicators

First Major Support Level: $48.96

Pivot Level: $49.84

First Major Resistance Level: $50.82

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.25% on Tuesday. Following on from a 0.30% gain on Monday, Ripple’s XRP ended the day at $0.25678.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $0.25998 before hitting reverse.

Coming up against the first major resistance level at $0.2601, Ripple’s XRP slid to an early afternoon intraday low $0.25261.

Steering clear of the first major support level at $0.2507, Ripple’s XRP recovered to $0.256 levels to end the day in the green.

At the time of writing, Ripple’s XRP was down by 0.35% to $0.25588. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25662 to a low $0.25588.

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