Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 16th, 2021

Ethereum

Ethereum rose by 2.08% on Friday. Following a 5.08% rally on Thursday, Ethereum ended the day at $3,869.73.

A mixed start to the day saw Ethereum fall to an early intraday low $3,734.44 before making a move.

Steering clear of the first major support level at $3,644, Ethereum rallied to a late intraday high $3,900.00.

Ethereum broke through the first major resistance level at $3,884 before easing back.

Falling short of the second major resistance level at $3,977, Ethereum ended the day at sub-$3,870 levels.

At the time of writing, Ethereum was down by 0.33% to $3,856.93. A mixed start to the day saw Ethereum rise to an early morning high $3,873.05 before falling to a low $3,851.64.

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

For the day ahead

Ethereum would need to avoid the $3,835 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 out from Friday’s high $3,900.00.

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 $4,000.

A fall through the $3,835 pivot would bring the first major support level at $3,770 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,600 levels. The second major support level at $3,669 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,770

Pivot Level: $3,835

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 rallied by 4.50% on Friday. Following a 2.14% gain on Thursday, Litecoin ended the day at $189.63.

A choppy start to the day saw Litecoin fall to an early morning intraday low $176.61 before making a move.

Finding support at the first major support level at $177, Litecoin rallied to a late intraday high $192.84.

Litecoin broke through the 23.6% FIB of $178 and the first major resistance level at $186.

The breakout saw Litecoin also break through the second major resistance level at $191 before easing back to sub-$190.

At the time of writing, Litecoin was up by 0.40% to $190.39. A mixed start to the day saw Litecoin fall to an early morning low $189.39 before rising to a high $190.53.

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

For the day ahead

Litecoin would need to avoid the $186 pivot to bring the first major resistance level at $196 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $192.84.

Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $203.

A fall through the $186 pivot would bring the first major support level at $180 and the 23.6% FIB of $178 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$170. The second major support level at $170 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $180

Pivot Level: $186

First Major Resistance Level: $196

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 0.58% on Friday. Following a 0.62% gain on Thursday, Ripple’s XRP ended the day at $1.13982.

A mixed start to the day saw Ripple’s XRP rally to an early morning intraday high $1.16471 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $1.1554 before falling to a mid-morning intraday low $1.10451.

The reversal saw Ripple’s XRP fall through the first major support level at $1.1147 before briefly revisiting $1.15 levels.

Coming up against the first major resistance level at $1.1554, Ripple’s XRP fell back to end the day at sub-$1.14 levels.

At the time of writing, Ripple’s XRP was Ripple’s XRP up by 0.38% to $1.14411. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.14252 to a high $1.14482.

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 $1.1363 pivot to bring the first major resistance level at $1.1682 into play.

Support would be needed, however, for Ripple’s XRP to break out from Friday’s high $1.16471.

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 $1.20. The second major resistance level sits at $1.1965.

A fall through the $1.1363 pivot would bring the first major support level at $1.1080 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid the 38.2% FIB of $1.0659. The second major support level at $1.0761 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.1080

Pivot Level: $1.1363

First Major resistance Level: $1.1682

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