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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 4th, 2021

By:
Bob Mason
Updated: Oct 4, 2021, 01:13 UTC

Following a bullish end to the week for the majors, a return to Sunday's highs would support another breakout day ahead.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum rose by 0.93% on Sunday. Following a 2.31% gain on Saturday, Ethereum ended the week up by 11.74% to $3,420.07.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,343.36 before making a move.

While steering clear of the first major support level at $3,275, Ethereum fell through the 23.6% FIB of $3,369.

Finding early support, however, Ethereum rallied to a late intraday high $3,489.18.

Ethereum back broke through the 23.6% FIB to test the first major resistance level at $3,486 before easing back.

The pullback saw Ethereum fall back through the first major resistance level to sub-$3,390 levels before ending the day at $3,420 levels.

At the time of writing, Ethereum was down by 0.17% to $3,414.38. A mixed start to the day saw Ethereum rise to an early morning high $3,420.87 before falling to a low $3,412.74.

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

ETHUSD 041021 Hourly Chart

For the day ahead

Ethereum would need to move back through the $3,418 pivot to bring the first major resistance level at $3,492 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $3,489.18.

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 $3,600 before any pullback. The second major resistance level sits at $3,563.

Failure to move back through the $3,418 pivot would bring the 23.6% FIB of $3,369 and the first major support level at $3,346 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $3,272.

Looking at the Technical Indicators

First Major Support Level: $3,346

Pivot Level: $3,418

First Major Resistance Level: $3,492

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.99% on Sunday. Following a 1.65% gain on Saturday, Litecoin ended the week up by 13.22% to $170.67.

A mixed start to the day saw Litecoin fall to a late morning intraday low $165.90 before making a move.

Coming within range of the first major support level at $165, Litecoin rallied to a late intraday high $174.99.

Litecoin broke through the first major resistance level at $173 before easing back to the end day at sub-$171.

At the time of writing, Litecoin was up by 0.04% to $170.73. A range-bound start to the day saw Litecoin fall to an early low $170.19 before rising to a high $170.77.

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

LTCUSD 041021 Hourly Chart

For the day ahead

Litecoin would need to move through the $171 pivot to bring the first major resistance level at $175 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $174.99.

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 23.6% FIB of $178 and the second major resistance level at $180.

Failure to move through the $171 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 $161 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $171

First Major Resistance Level: $175

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 1.76% on Sunday. Reversing a 0.37% decline from Saturday, Ripple’s XRP ended the week up by 11.74% to $1.05524.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.02249 before making a move.

Steering clear of the first major support level at $1.0074, Ripple’s XRP rallied to a late intraday high $1.08920.

Ripple’s XRP broke through the 38.2% FIB of $1.0659 and the first major resistance level at $1.0707.

A late pullback, however, saw Ripple’s XRP fall back through the first major resistance level and the 38.2% FIB before ending the day at sub-$1.06 levels.

At the time of writing, Ripple’s XRP was down by 0.08% to $1.05438. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.05542 before falling to a low $1.05438.

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

XRPUSD 041021 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $1.0556 pivot to bring the 38.2% FIB of $1.0659 and the first major resistance level at $1.0888 into play.

Support would be needed, however, for Ripple’s XRP to break out from the 38.2% FIB.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $1.08920 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.15 before any pullback. The second major resistance level sits at $1.1224.

Failure to move through the $1.0556 pivot would bring the first major support level at $1.0221 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$0.95 levels. The second major support level at $0.9889 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0221

Pivot Level: $1.0556

First Major resistance Level: $1.0888

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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