Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 20th, 2021

Ethereum

Ethereum rose by 3.55% on Tuesday. Partially reversing a 2.65% slide from Monday, Ethereum ended the day at $3,878.17.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,731.22 before making a move.

Steering clear of the first major support level at $3,650, Ethereum rallied to a final hour intraday high $3,890.36.

Ethereum broke through the first major resistance level at $3,868 to end the day at $3,878 levels.

At the time of writing, Ethereum was up by 0.18% to $3,885.19. A mixed start to the day saw Ethereum rise to an early morning high $3,900.00 before falling to a low $3,877.77.

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

For the day ahead

Ethereum would need to avoid the $3,833 pivot to bring the first major resistance level at $3,935 play.

Support from the broader market would be needed, however, for Ethereum to break through to $3,900 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $3,992.

A fall through the $3,833 pivot would bring the first major support level at $3,776 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,600 levels. The second major support level at $3,674 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,776

Pivot Level: $3,833

First Major Resistance Level: $3,935

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 1.69% on Tuesday. Following a 1.01% gain on Monday, Litecoin ended the day at $188.73.

A bullish start to the day saw Litecoin rise to an early morning intraday high $191.62.

Litecoin broke through the first major resistance level at $189 before hitting reverse.

Coming within range of the second major resistance level at $193, Litecoin slid to an early afternoon intraday low $183.17.

Story continues

Steering clear of the first major support level at $180, Litecoin bounced back to end the day at $188 levels.

At the time of writing, Litecoin was down by 0.23% to $188.30. A mixed start to the day saw Litecoin rise to an early morning high $188.82 before falling to a low $188.10.

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

For the day ahead

Litecoin would need to avoid the $188 pivot to bring the first major resistance level at $193 into play.

Support from the broader market would be needed, however, for Litecoin to breakout from Tuesday’s high $191.62.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $196.

A fall through the $188 pivot would bring the first major support level at $184 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$175. The second major support level at $179 and the 23.6% FIB of $178 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $184

Pivot Level: $188

First Major Resistance Level: $193

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 0.74% on Tuesday. Partially reversing a 1.05% gain from Monday, Ripple’s XRP ended the day at $1.09065.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.09986 before hitting reverse.

Falling short of the first major resistance level at $1.1032, Ripple’s XRP fell to an early afternoon intraday low $1.06761.

Steering clear of the 38.2% FIB of $1.0659 and the first major support level at $1.0633, Ripple’s XRP found support to end the day at $1.09 levels.

At the time of writing, Ripple’s XRP was down by 0.05% to $1.09008. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.09123 before falling to a low $1.08961.

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

For the day ahead

Ripple’s XRP would need to avoid the $1.0860 pivot to bring the first major resistance level at $1.1045 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.10 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.12 levels before any pullback. The second major resistance level sits at $1.1183.

A fall through the $1.0860 pivot would bring the first major support level at $1.0722 and the 38.2% FIB of $1.0659 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.05 levels. The second major support level at $1.0538 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0722

Pivot Level: $1.0860

First Major resistance Level: $1.1045

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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