Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 9th, 2021

Ethereum

Ethereum fell by 0.69% on Friday. Reversing a 0.34% gain from Thursday, Ethereum ended the day at $3,563.96.

A mixed start to the day saw Ethereum rise to a late morning intraday high $3,670.0 before hitting reverse.

Coming within range of the first major resistance level at $3,672, Ethereum slid to a late intraday low $3,535.0.

Steering clear of the first major support level at $3,488, however, Ethereum found support to end the day at $3,560 levels.

At the time of writing, Ethereum was down by 0.17% to $3,557.92. A mixed start to the day saw Ethereum fall to an early morning low $3,538.61 before rising to a high $3,576.37.

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

For the day ahead

Ethereum would need to move through the $3,590 pivot to bring the first major resistance level at $3,644 play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,600 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $3,670.0 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,725.

Failure to move through the $3,590 pivot would bring the first major support level at $3,509 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,400 levels. The second major support level at $3,455 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,509

Pivot Level: $3,590

First Major Resistance Level: $3,644

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 1.53% on Friday. Reversing a 0.06% gain from Thursday, Litecoin ended the day at $175.91.

A mixed start to the day saw Litecoin rise to a midday intraday high $183.44 before hitting reverse.

Falling short of the first major resistance level at $186, Litecoin slid to a late intraday low $174.46.

While steering clear of the major resistance levels, Litecoin fell through the 23.6% FIB of $178 to end the day at sub-$176 levels.

At the time of writing, Litecoin was up by 0.44% to $176.68. A mixed start to the day saw Litecoin fall to an early morning low $174.44 before rising to a high $177.16.

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

For the day ahead

Litecoin would need to move through the $178 pivot and 23.6% FIB of $178 to bring the first major resistance level at $181 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $180 levels

Barring an extended crypto rally, the first major resistance level and Friday’s high $183.44 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 $187.

Failure to move through the $178 pivot and the 23.6% FIB of $178 would bring 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 $169 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $178

First Major Resistance Level: $181

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 0.53% on Friday. Following a 0.78% decline on Thursday, Ripple’s XRP ended the day at $1.06309.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $1.09198 before hitting reverse.

Falling short of the first major resistance level at $1.0928, Ripple’s XRP slid to a late intraday low $1.05401.

While steering clear of the first major support level at $1.0434, Ripple’s XRP fell through the 38.2% FIB of $1.0659.

Finding late support, however, Ripple’s XRP tested resistance at the 38.2% FIB of $1.0659 before easing back.

At the time of writing, Ripple’s XRP was up by 0.26% to $1.06581. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.05741 before rising to a high $1.06618.

While leaving the major support and resistance levels untested, Ripple’s XRP briefly broke through the 38.2% FIB of $1.0659.

For the day ahead

Ripple’s XRP would need to move through the 38.2% FIB and the $1.0697 pivot to bring the first major resistance level at $1.0854 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.08 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $1.09198 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.12 levels. The second major resistance level sits at $1.1077.

Failure to move through the 38.2% FIB of $1.0659 and the $1.0697 pivot would bring the first major support level at $1.0474 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level at $1.0317 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0474

Pivot Level: $1.0697

First Major resistance Level: $1.0854

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