Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 30th, 2021
Ethereum
Ethereum rose by 3.01% on Friday. Following a 9.25% breakout on Thursday, Ethereum ended the day at $4,421.23.
A mixed start saw Ethereum fall to an early morning intraday low $4,266.91 before making a move.
Steering clear of the first major support level at $4,026, Ethereum rallied to a late afternoon intraday high and a new ATH $4,461.96.
Ethereum broke through the first major resistance level at $4,425 before easing back to end the day at $4,421 levels.
At the time of writing, Ethereum was down by 0.25% to $4,410.38. A mixed start to the day saw Ethereum rise to an early morning high $4,435.00 before falling to a low $4,408.58.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $4,383 pivot to bring the first major resistance level at $4,500 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Friday’s ATH $4,461.96.
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 $4,650 levels before any pullback. The second major resistance level sits at $4,578.
A fall through the $4,383 pivot would bring the first major support level at $4,305 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,100 levels. The second major support level at $4,188 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $4,305
Pivot Level: $4,383
First Major Resistance Level: $4,500
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin rose by 3.55% on Friday. Following a 5.92% rally on Thursday. Partially, Litecoin ended the day at $196.69.
A bearish start to the day saw Litecoin fall to an early morning intraday low $188.32 before making a move.
Steering clear of the first major support level at $180, Litecoin rallied to a late intraday high $198.73.
Litecoin broke through the first major resistance level at $197 before a fall back to end the day at $196 levels.
At the time of writing, Litecoin was down by 0.18% to $196.34. A mixed start to thre day saw Litecoin rise to an early morning high $197.38 before falling to a low $196.17.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid the $195 pivot to bring the first major resistance level at $201 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.
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 $210 before any pullback. The second major resistance level sits at $205.
A fall through the $195 pivot would bring the first major support level at $190 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$180. The second major support level at $184 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $190
Pivot Level: $195
First Major Resistance Level: $201
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 2.05% on Friday. Following a 6.19% rally on Thursday, Ripple’s XRP ended the day at $1.08098.
After a mixed start, Ripple’s XRP fell to a late morning intraday low $1.05411 before making a move.
While steering clear of the first major support level at $0.9999, Ripple’s XRP briefly fell through the 38.2% FIB of $1.0659.
Finding late morning support, however, Ripple’s XRP rose to a late intraday high $1.08998.
While breaking back through the 38.2% FIB, Ripple’s XRP fell short of the first major resistance level at $1.0984.
Coming up against resistance at $1.09, Ripple’s XRP eased back to end the day at sub-$1.0810 levels.
At the time of writing, Ripple’s XRP was down by 0.21% to $1.07870. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.08350 before falling to a low $1.07795.
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 $1.0750 pivot to bring the first major resistance level at $1.0959 into play.
Support would be needed, however, for Ripple’s XRP to break back through to $1.09 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 $1.1109.
A fall through the $1.0750 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0601 into play.
Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.02 levels. The second major support level at $1.0392 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1.0601
Pivot Level: $1.0750
First Major resistance Level: $1.0959
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
