Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 22nd, 2021

Ethereum

Ethereum fell by 2.59% on Thursday. Partially reversing a 7.31% rally from Wednesday, Ethereum ended the day at $4,053.90.

A mixed start to the day saw Ethereum rise to a late morning intraday high $4,374.95 before hitting reverse.

Ethereum broke through the first major resistance level at $4,277 before falling to a mid-afternoon intraday low $4,012.77.

Steering clear of the first major support level at $3,938, Ethereum revisited $4,130 levels before easing back.

At the time of writing, Ethereum was up by 0.51% to $4,074.39. A mixed start to the day saw Ethereum fall to an early morning low $4,052.50 before rising to a high $4,103.48.

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

For the day ahead

Ethereum would need to move through the $4,147 pivot to bring the first major resistance level at $4,282 play.

Support from the broader market would be needed, however, for Ethereum to break through to $4,250 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $4,374.95 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $4,509. Ethereum would need plenty of support, however, to breakout from May’s all-time high $4,384.43.

Failure to move through the $4,147 pivot would bring the first major support level at $3,920 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,800 levels. The second major support level sits at $3,785.

Looking at the Technical Indicators

First Major Support Level: $3,920

Pivot Level: $4,147

First Major Resistance Level: $4,282

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 5.07% on Thursday. Partially reversing a 9.85% jump from Wednesday, Litecoin ended the day at $196.81.

A bullish start to the day saw Litecoin rally to an early morning intraday high $214.80 before hitting reverse.

Falling short of the first major resistance level at $216, Litecoin slid to a mid-afternoon intraday low $195.25.

Steering clear of the first major support level at $192, however, Litecoin revisited $200 levels before easing back.

At the time of writing, Litecoin was up by 0.10% to $197.0. A mixed start to the day saw Litecoin fall to an early morning low $196.70 before rising to a high $199.07.

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

For the day ahead

Litecoin would need to move through the $202 pivot to bring the first major resistance level at $209 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $205 levels.

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 38.2% FIB of $223 before any pullback. The second major resistance level sits at $222.

Failure to move through the $202 pivot would bring the first major support level at $190 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$185 and the 23.6% FIB of $178. The second major support level sits at $183.

Looking at the Technical Indicators

First Major Support Level: $190

Pivot Level: $202

First Major Resistance Level: $209

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 5.04% on Thursday. Reversing a 4.90% gain from Wednesday, Ripple’s XRP ended the day at $1.08867.

A choppy start to the day saw Ripple’s XRP rise to an early morning intraday high $1.16356 before hitting reverse.

Falling short of the first major resistance level at $1.1694, Ripple’s XRP slid to a late intraday low $1.08446.

The reversal saw Ripple’s XRP fall through the first major support level at $1.1034 to end the day at $1.088 levels.

At the time of writing, Ripple’s XRP was up by 0.41% to $1.09315. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.08918 to a high $1.09779.

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 $1.1122 pivot to bring the first major resistance level at $1.1400 into play.

Support would be needed, however, for Ripple’s XRP to break out from $1.12 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 resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1913.

Failure to move through the $1.1122 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0609 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.05 levels. The second major support level sits at $1.0331.

Looking at the Technical Indicators

First Major Support Level: $1.0609

Pivot Level: $1.1122

First Major resistance Level: $1.1400

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