Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 12th, 2021
Ethereum
Ethereum rose by 3.74% on Monday. Partially reversing a 4.48% slide from Sunday, Ethereum ended the day at $3,542.37.
A mixed start to the day saw Ethereum slide to an early morning intraday low $3,373.45 before making a move.
Steering clear of the 23.6% FIB of $3,369 and the first major support level at $3,346, Ethereum rallied to a late morning intraday high $3,625.0.
Ethereum broke through 23.6% FIB and the first major resistance level at $3,545.
A late pullback saw Ethereum fall back through the first major resistance level to end the day at $3,542 levels.
At the time of writing, Ethereum was down by 0.42% to $3,527.35. A mixed start to the day saw Ethereum rise to an early morning high $3,543.21 before falling to a low $3,516.69.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $3,514 pivot to bring the first major resistance level at $3,654 play.
Support from the broader market would be needed, however, for Ethereum to break back through to $3,600 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $3,625.00 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,765.
A fall through the $3,514 pivot would bring the first major support level at $3,402 and the 23.6% FIB of $3,369 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level sits at $3,262.
Looking at the Technical Indicators
First Major Support Level: $3,402
Pivot Level: $3,514
First Major Resistance Level: $3,654
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 2.53% on Monday. Partially reversing a 2.82% fall from Sunday, Litecoin ended the day at $179.20.
A mixed start to the day saw Litecoin slide to an early morning intraday low $172.41 before making a move.
Steering clear of the first major support level at $171, Litecoin rallied to a late morning intraday high $185.34.
Litecoin broke through the 23.6% FIB of $178 and the first major resistance level at $181.
A late pullback saw Litecoin fall back to sub-$175 levels before a move back through the 23.6% FIB to end the day at $179 levels.
At the time of writing, Litecoin was down by 0.35% to $178.58. A mixed start to the day saw Litecoin rise to an early morning high $179.22 before falling to a low $178.58.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $179 pivot to bring the first major resistance level at $186 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $185 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $185.34 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $195 before any pullback. The second major resistance level sits at $192.
Failure to move back through the $179 pivot would bring the 23.6% FIB of $178 and the first major support level at $173 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level at $166 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $173
Pivot Level: $179
First Major Resistance Level: $186
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 0.21% on Monday. Following a 2.09% decline on Sunday, Ripple’s XRP ended the day at $1.13802.
A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $1.18150 before hitting reverse.
Falling short of the first major resistance level at $1.2007, however, Ripple’s XRP slid to a late intraday low $1.10415.
Steering clear of the first major support level at $1.0995, Ripple’s XRP returned to $1.138 levels to reverse losses from the day.
At the time of writing, Ripple’s XRP was down by 0.17% to $1.13609.
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 $1.1412 pivot to bring the first major resistance level at $1.1783 into play.
Support would be needed, however, for Ripple’s XRP to break out from $1.15 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $1.1815 would likely cap the upside.
In the event of a broad-based crypto rally, Ripple’s XRP could test the second major resistance level at $1.2186.
Failure to move through the $1.1412 pivot would bring the first major support level at $1.1009 into play.
Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.05 levels. The 38.2% FIB of $1.0659 and the second major support level at $1.0639 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.1009
Pivot Level: $1.1412
First Major resistance Level: $1.1783
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
