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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 21st, 2021

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·5 min read
In this article:
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Ethereum

Ethereum rallied by 7.31% on Wednesday. Following a 3.55% gain on Tuesday, Ethereum ended the day at $4,161.94.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $4,144.00 before making a move.

Steering clear of the first major support level at $3,776, Ethereum rallied to a late intraday high $4,169.00.

Ethereum broke through day’s major resistance levels to end the day at $4,152 levels.

The third major resistance level at $4,152 delivered support late in the day.

At the time of writing, Ethereum was down by 0.34% to $4,147.95. A mixed start to the day saw Ethereum rise to an early morning high $4,166.43 before falling to a low $4,137.51.

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

For the day ahead

Ethereum would need to avoid the $4,054 pivot to bring the first major resistance level at $4,277 play.

Support from the broader market would be needed, however, for Ethereum to break through to $4,200 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, Ethereum could test resistance at May’s all-time high $4,384.43. The second major resistance level sits at $4,393.

A fall through the $4,054 pivot would bring the first major support level at $3,938 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,800 levels. The second major support level sits at $3,714.

Looking at the Technical Indicators

First Major Support Level: $3,938

Pivot Level: $4,054

First Major Resistance Level: $4,277

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin jumped by 9.85% on Wednesday. Following a 1.69% gain on Tuesday, Litecoin ended the day at $207.32.

A mixed start to the day saw Litecoin fall to an early morning intraday low $185.69 before making a move.

Steering clear of the first major support level at $184, Litecoin rallied to a late afternoon intraday high $209.64.

Litecoin broke through the day’s major resistance levels before a fall back to $203 levels.

The pullback saw Litecoin briefly fall back through the third major resistance level at $205 before ending the day at $207 levels.

At the time of writing, Litecoin was down by 0.23% to $206.84. A mixed start to the day saw Litecoin rise to an early morning high $207.50 before falling to a low $206.62.

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

For the day ahead

Litecoin would need to avoid the $201 pivot to bring the first major resistance level at $216 into play.

Support from the broader market would be needed, however, for Litecoin to breakout from Wednesday’s high $209.64.

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 38.2% FIB of $223 before any pullback. The second major resistance level sits at $225.

A fall through the $201 pivot would bring the first major support level at $192 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 and the 23.6% FIB of $178. The second major support level sits at $177.

Looking at the Technical Indicators

First Major Support Level: $177

Pivot Level: $201

First Major Resistance Level: $216

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 4.90% on Wednesday. Following a 0.74% increase on Tuesday, Ripple’s XRP ended the day at $1.14466.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.08687 before making a move.

Steering clear of the first major support level at $1.0722, Ripple’s XRP rallied to a late intraday high $1.15282.

Ripple’s XRP broke through the day’s major resistance levels before a pullback to sub-$1.135 levels.

The pullback saw Ripple’s XRP fall back through the third major resistance level at $1.1505 to end the day at $1.144 levels.

At the time of writing, Ripple’s XRP was down by 0.25% to $1.14176. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.14790 before falling to a low $1.14065.

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 $1.1281 pivot to bring the first major resistance level at $1.1694 into play.

Support would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $1.15282.

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 $1.22 levels before any pullback. The second major resistance level sits at $1.1941.

A fall through the $1.1281 pivot would bring the first major support level at $1.1034 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid the 38.2% FIB of $1.0659. The second major support level sits at $1.0622.

Looking at the Technical Indicators

First Major Support Level: $1.1034

Pivot Level: $1.1281

First Major resistance Level: $1.1694

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

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