Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 13th, 2021

Ethereum

Ethereum fell by 1.46% on Tuesday. Partially reversing a 3.74% gain from Monday, Ethereum ended the day at $3,490.61.

A mixed start to the day saw Ethereum slide to a mid-day intraday low $3,403.51 before making a move.

Finding support at the first major support level at $3,402, Ethereum rallied to an early afternoon intraday high $3,549.00.

Falling short of the first major resistance level at $3,654, however, Ethereum fell back to sub-$3,500 levels and into the red.

At the time of writing, Ethereum was up by 0.19% to $3,497.35. A mixed start to the day saw Ethereum fall to an early morning low $3,488.00 before rising to a high $3,497.84.

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

For the day ahead

Ethereum would need to avoid the $3,481 pivot to bring the first major resistance level at $3,559 play.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $3,549.00.

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 resistance at $3,700 before any pullback. The second major resistance level sits at $3,627.

A fall through the $3,481 pivot would bring the first major support level at $3,413 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 at $3,336 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,413

Pivot Level: $3,481

First Major Resistance Level: $3,559

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 3.64% on Tuesday. Reversing a 2.53% gain from Monday, Litecoin ended the day at $172.63.

A bearish start to the day saw Litecoin slide from an early morning intraday high $179.22 to a late morning intraday low $166.50.

Litecoin fell through the 23.6% FIB of $178 and the first major support level at $173.

Finding early afternoon support, Litecoin briefly broke back through the first major support level before ending the day at $172 levels.

At the time of writing, Litecoin was down by 0.40% to $171.94. A mixed start to the day saw Litecoin rise to an early morning high $172.86 before falling to a low $171.94.

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

For the day ahead

Litecoin would need to move through the $173 pivot to bring the 23.6% FIB of $178 and the first major resistance level at $179 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $175 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $179.22 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level sits at $186.

Failure to move through the $173 pivot would bring the first major support level at $166 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$160. The second major support level at $160 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $173

First Major Resistance Level: $179

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 2.95% on Tuesday. Reversing a 0.21% gain from Monday, Ripple’s XRP ended the day at $1.10254.

A bearish start to the day saw Ripple’s XRP fall from an early morning intraday high $1.13609 to a late morning intraday low $1.06533.

Ripple’s XRP fell through the first major support level at $1.1009 and the 38.2% FIB of $1.0659.

Steering clear of the second major support level at $1.0639, Ripple’s XRP revisited $1.11 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.96% to $1.09195. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.09888 to a low $1.09195.

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 $1.1013 pivot to bring the first major resistance level at $1.1373 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.13 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1.13609 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.20. The second major resistance level sits at $1.1721.

Failure to move through the $1.1013 pivot would bring the first major support level at $1.0666 and the 38.2% FIB of $1.0659 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level at $1.0306 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0666

Pivot Level: $1.1013

First Major resistance Level: $1.1373

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