Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 4th, 2021

Ethereum

Ethereum rose by 0.93% on Sunday. Following a 2.31% gain on Saturday, Ethereum ended the week up by 11.74% to $3,420.07.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,343.36 before making a move.

While steering clear of the first major support level at $3,275, Ethereum fell through the 23.6% FIB of $3,369.

Finding early support, however, Ethereum rallied to a late intraday high $3,489.18.

Ethereum back broke through the 23.6% FIB to test the first major resistance level at $3,486 before easing back.

The pullback saw Ethereum fall back through the first major resistance level to sub-$3,390 levels before ending the day at $3,420 levels.

At the time of writing, Ethereum was down by 0.17% to $3,414.38. A mixed start to the day saw Ethereum rise to an early morning high $3,420.87 before falling to a low $3,412.74.

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

For the day ahead

Ethereum would need to move back through the $3,418 pivot to bring the first major resistance level at $3,492 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $3,489.18.

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 resistance at $3,600 before any pullback. The second major resistance level sits at $3,563.

Failure to move back through the $3,418 pivot would bring the 23.6% FIB of $3,369 and the first major support level at $3,346 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $3,272.

Looking at the Technical Indicators

First Major Support Level: $3,346

Pivot Level: $3,418

First Major Resistance Level: $3,492

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.99% on Sunday. Following a 1.65% gain on Saturday, Litecoin ended the week up by 13.22% to $170.67.

A mixed start to the day saw Litecoin fall to a late morning intraday low $165.90 before making a move.

Coming within range of the first major support level at $165, Litecoin rallied to a late intraday high $174.99.

Litecoin broke through the first major resistance level at $173 before easing back to the end day at sub-$171.

At the time of writing, Litecoin was up by 0.04% to $170.73. A range-bound start to the day saw Litecoin fall to an early low $170.19 before rising to a high $170.77.

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

For the day ahead

Litecoin would need to move through the $171 pivot to bring the first major resistance level at $175 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $174.99.

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 the 23.6% FIB of $178 and the second major resistance level at $180.

Failure to move through the $171 pivot would bring the first major support level at $166 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$160. The second major support level at $161 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $171

First Major Resistance Level: $175

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 1.76% on Sunday. Reversing a 0.37% decline from Saturday, Ripple’s XRP ended the week up by 11.74% to $1.05524.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.02249 before making a move.

Steering clear of the first major support level at $1.0074, Ripple’s XRP rallied to a late intraday high $1.08920.

Ripple’s XRP broke through the 38.2% FIB of $1.0659 and the first major resistance level at $1.0707.

A late pullback, however, saw Ripple’s XRP fall back through the first major resistance level and the 38.2% FIB before ending the day at sub-$1.06 levels.

At the time of writing, Ripple’s XRP was down by 0.08% to $1.05438. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.05542 before falling to a low $1.05438.

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

For the day ahead

Ripple’s XRP would need to move through the $1.0556 pivot to bring the 38.2% FIB of $1.0659 and the first major resistance level at $1.0888 into play.

Support would be needed, however, for Ripple’s XRP to break out from the 38.2% FIB.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $1.08920 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.15 before any pullback. The second major resistance level sits at $1.1224.

Failure to move through the $1.0556 pivot would bring the first major support level at $1.0221 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$0.95 levels. The second major support level at $0.9889 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0221

Pivot Level: $1.0556

First Major resistance Level: $1.0888

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