Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 21st, 2020

For the day ahead

Litecoin would need to move through the $47.29 pivot to support a run at the first major resistance level at $48.12.

Support from the broader market would be needed, however, for Litecoin to break back through to $48 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $48.46 would likely cap any upside.

In the event of another breakout, Litecoin would likely test resistance at $49 before any pullback. The second major resistance level sits at $49.30.

Failure to move through the $47.29 pivot level would bring the first major support level at $46.11 into play.

Barring another extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $45.28.

Looking at the Technical Indicators

First Major Support Level: $46.11

Pivot Level: $47.29

First Major Resistance Level: $48.12

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slipped by 0.85% on Tuesday. Partially reversing a 1.42% rally from Monday, Ripple’s XRP ended the day at $0.2436.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.25034 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2502 before sliding to an early afternoon intraday low $0.24159.

Steering clear of the first major support level at $0.2408, Ripple’s XRP briefly revisited $0.2459 levels.

A bearish end to the day, however, left Ripple’s XRP at sub-$0.245 levels and in the red.

At the time of writing, Ripple’s XRP was flat at $0.24359. A mixed start to the day Ripple’s XRP fall to an early morning low $0.24311 before rising to a high $0.24360.

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