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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 18th, 2021

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·5 min read
In this article:
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Ethereum

Ethereum rose by 0.46% on Sunday. Partially reversing a 1.04% decline on Saturday, Ethereum ended the week up by 12.66% to $3,847.18.

A bullish start to the day saw Ethereum rise to a mid-morning intraday high $3,919.00 before hitting reverse.

Falling short of the first major resistance level at $3,931, Ethereum slid to a late intraday low $3,643.00.

Ethereum fell through the first major support level at $3,765 and the second major support level at $3,700.

Finding late support, however, Ethereum broke back through the major support levels to end the day at $3,800 levels.

At the time of writing, Ethereum was up by 0.11% to $3,851.37. A mixed start to the day saw Ethereum rise to an early morning high $3,864.0 before falling to a low $3,845.0.

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

For the day ahead

Ethereum would need to avoid the $3,803 pivot to bring the first major resistance level at $3,963 play.

Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $3,919.00.

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 $4,079.

A fall through the $3,803 pivot would bring the first major support level at $3,687 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,500 levels. The second major support level at $3,527 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,687

Pivot Level: $3,803

First Major Resistance Level: $3,963

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 1.22% on Sunday. Following a 1.88% loss from Saturday, Litecoin ended the week up by 12.46% to $183.73.

A choppy start to the day saw Litecoin rise to a mid-morning intraday high $188.00 before hitting reverse.

Falling short of the first major resistance level at $191, Litecoin slid to a late intraday low $176.56.

Litecoin fell through the first major support level at $183 and the second major support level at $180.

The sell-off also saw Litecoin fall through the 23.6% FIB of $178 before finding support.

Late in the day, Litecoin broke back through the 23.6% FIB and the major support levels to end the day at $183 levels.

At the time of writing, Litecoin was up by 0.07% to $183.85. A mixed start to the day saw Litecoin fall to an early morning low $183.66 before rising to a high $184.14.

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

For the day ahead

Litecoin would need to avoid the $183 pivot to bring the first major resistance level at $189 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $185 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $188.00 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $194.

A fall through the $183 pivot would bring the 23.6% FIB of $178 and the first major support level at $178 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$170. The second major support level at $171 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $178

Pivot Level: $183

First Major Resistance Level: $189

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP slid by 3.61% on Sunday. Following a 0.80% fall from Saturday, Ripple’s XRP ended the week down by 3.90% to $1.09194.

A range-bound start to the day saw Ripple’s XRP rise to a late morning intraday high $1.13933 before hitting reverse.

Falling short of the first major resistance level at $1.1691, Ripple’s XRP slid to a late intraday low $1.01879.

The extended sell-off saw Ripple’s XRP fall through day’s major support levels.

Ripple’s XRP also fell through the 38.2% FIB of $1.0659 before finding late support.

Late in the day, Ripple’s XRP broke back through the third major support level at $1.0388 and the 38.2% FIB to end the day at $1.08 levels.

At the time of writing, Ripple’s XRP was up by 0.38% to $1.09610. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.09317 before rising to a high $1.09610.

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 $1.0834 pivot to bring the first major resistance level at $1.1479 into play.

Support would be needed, however, for Ripple’s XRP to break out from $1.10 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 the second major resistance level at $1.2039.

A fall through the $1.0834 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0274 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level sits at $0.9628.

Looking at the Technical Indicators

First Major Support Level: $1.0274

Pivot Level: $1.0834

First Major resistance Level: $1.1479

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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