Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 8th, 2021

Ethereum

Ethereum rose by 0.34% on Thursday. Following a 1.64% gain on Wednesday, Ethereum ended the day at $3,588.51.

A mixed start to the day saw Ethereum slide to an early morning intraday low $3,471.52 before making a move.

Steering clear of the first major support level at $3,401, Ethereum rallied to a late intraday high $3,655.02.

Falling short of the first major resistance level at $3,691, however, Ethereum eased back to end the day at sub-$3,600 levels.

At the time of writing, Ethereum was down by 0.24% to $3,579.96. A mixed start to the day saw Ethereum rise to an early morning high $3,592.27 before falling to a low $3,576.57.

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

For the day ahead

Ethereum would need to avoid the $3,572 pivot to bring the first major resistance level at $3,672 play.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $3,655.02.

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 $4,000 before any pullback. The second major resistance level sits at $3,755.

A fall through the $3,572 pivot would bring the first major support level at $3,488 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $3,369. The second major support level at $3,388 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,488

Pivot Level: $3,572

First Major Resistance Level: $3,672

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.06% on Thursday. Following a 2.70% rise from Wednesday, Litecoin ended the day at $178.61.

A mixed start to the day saw Litecoin fall to an early morning intraday low $173.42 before making a move.

While steering clear the first major support level at $167, Litecoin fell through the 23.6% FIB of $178.

Finding early morning support, however, Litecoin rallied to a late morning intraday high $187.03.

Litecoin broke back through the 23.6% FIB and broke through the first major resistance level at $186.

A late morning pullback, however, saw Litecoin fall back to $176 levels before a move back through the 23.6% FIB.

At the time of writing, Litecoin was down by 0.22% to $178.22. A range-bound start to the day saw Litecoin rise to an early morning high $178.93 before falling to a low $178.17.

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

https://finance.yahoo.com/

For the day ahead

Litecoin would need to move through the $180 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 Thursday’s high $187.03 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 $193.

Failure to move through the $180 pivot would bring the 23.6% FIB of $178 and the first major support level at $172 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: $172

Pivot Level: $180

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 fell by 0.78% on Thursday. Following a 0.38% decline on Wednesday, Ripple’s XRP ended the day at $1.0675.

A mixed start to the day saw Ripple’s XRP slide to an early morning intraday low $1.04453 before making a move.

While steering clear of the first major support level at $1.0295, Ripple’s XRP fell through the 38.2% FIB of $1.0659.

Finding early morning support, however, Ripple’s XRP rallied to a late morning intraday high $1.0939 before a 2nd pullback.

While breaking back through the 38.2% FIB, Ripple’s XRP came up short of the first major resistance level at $1.1185.

The 2nd pullback saw Ripple’s XRP fall back through the 38.2% FIB of 1.0659 before ending the day at $1.067 levels.

At the time of writing, Ripple’s XRP was up by 0.33% to $1.07106. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.06879 to a high $1.07106.

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

https://finance.yahoo.com/

For the day ahead

Ripple’s XRP would need to avoid the $1.0687 pivot to bring the first major resistance level at $1.0928 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 and resistance at $1.10 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.15 levels. The second major resistance level sits at $1.1181.

A fall through the $1.0687 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0434 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level at $1.0193 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0434

Pivot Level: $1.0687

First Major resistance Level: $1.0928

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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