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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 26th, 2021

By:
Bob Mason
Updated: Oct 26, 2021, 01:04 UTC

After a bullish start to the week, avoiding the day's pivot levels would support another breakout day ahead.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Ethereum

Ethereum rose by 3.40% on Monday. Reversing a 2.53% loss from Sunday, Ethereum ended the day at $4,220.93.

A mixed start to the day saw Ethereum fall to an early morning intraday low $4,069.22 before making a move.

Steering clear of the first major support level at $3,967, Ethereum rallied to a late afternoon intraday high $4,236.27.

Ethereum broke through the first major resistance level at $4,193 to end the day at $4,200 levels.

At the time of writing, Ethereum was down by 0.29% to $4,208.70. A mixed start to the day saw Ethereum rise to an early morning high $4,227.64 before falling to a low $4,207.44.

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

ETHUSD 261021 Hourly Chart

For the day ahead

Ethereum would need to avoid the $4,176 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 out from Monday’s high $4,236.27.

Barring an extended crypto rally, the first major resistance level and resistance at $4,300 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at May’s all-time high $4,383.4. The second major resistance level sits at $4,343.

A fall through the $4,176 pivot would bring the first major support level at $4,115 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level at $4,008 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,115

Pivot Level: $4,176

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 rose by 2.62% on Monday. Partially reversing a 2.99% decline from Sunday, Litecoin ended the day at $195.37.

A mixed start to the day saw Litecoin fall to an early morning intraday low $189.63 before making a move.

Steering clear of the first major support level at $184, Litecoin rallied to a late afternoon intraday high $197.36.

Falling short of the first major resistance level at $199, however, Litecoin fell back to sub-$194 levels before finding late support.

At the time of writing, Litecoin was down by 0.19% to $194.99. A mixed start to the day saw Litecoin rise to an early morning high $195.61 before falling to a low $194.96.

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

LTCUSD 261021 Hourly Chart

For the day ahead

Litecoin would need to avoid the $194 pivot to bring the first major resistance level at $199 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $197.36.

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 $205 before any pullback. The second major resistance level sits at $202.

A fall through the $194 pivot would bring the first major support level at $191 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$185. The second major support level at $186 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $191

Pivot Level: $194

First Major Resistance Level: $199

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 1.12% on Monday. Reversing a 1.04% loss from Sunday, Ripple’s XRP ended the day at $1.09551.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.07828 before making a move.

Steering clear of the 38.2% FIB of $1.0659 and the first major support level at $1.0583, Ripple’s XRP rose to a late afternoon intraday high $1.1030.

Ripple’s XRP broke through the first major resistance level at $1.1015 before a pullback to sub-$1.09 levels.

Finding late support, however, Ripple’s XRP moved back through to $1.095 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.08% to $1.09458. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.09565 before falling to a low $1.09458.

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

XRPUSD 261021 Hourly Chart

For the day ahead

Ripple’s XRP would need to avoid the $1.0923 pivot to bring the first major resistance level at $1.1062 into play.

Support would be needed, however, for Ripple’s XRP to break out from Monday’s high $1.1030.

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 $1.15 levels before any pullback. The second major resistance level sits at $1.1170.

A fall through the $1.0923 pivot would bring the first major support level at $1.0815 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid the 38.2% FIB of $1.0659 and the second major support level at $1.0675.

Looking at the Technical Indicators

First Major Support Level: $1.0815

Pivot Level: $1.0923

First Major resistance Level: $1.1062

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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