Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 15th, 2021

·5 min read

Ethereum

Ethereum rallied by 5.08% on Thursday. Following a 3.38% gain on Wednesday, Ethereum ended the day at $3,791.66.

A mixed start to the day saw Ethereum fall to an early intraday low $3,588.55 before making a move.

Steering clear of the first major support level at $3,476, Ethereum rallied to a late afternoon intraday high $3,828.84.

Ethereum broke through the first major resistance level at $3,678 and the second major resistance level at $3,747.

A late pullback saw Ethereum briefly fall back through the second major resistance level before wrapping up the day at $3,790 levels.

At the time of writing, Ethereum was down by 0.45% to $3,774.66. A mixed start to the day saw Ethereum rise to an early morning high $3,799.24 before falling to a low $3,765.00.

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

For the day ahead

Ethereum would need to avoid the $3,736 pivot to bring the first major resistance level at $3,884 play.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $3,828.84.

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 $4,000 before any pullback. The second major resistance level sits at $3,977.

A fall through the $3,736 pivot would bring the first major support level at $3,644 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,400 levels. The second major support level at $3,496 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,644

Pivot Level: $3,736

First Major Resistance Level: $3,884

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.14% on Thursday. Following a 2.89% gain on Wednesday, Litecoin ended the day at $181.50.

A choppy start to the day saw Litecoin fall to an early morning intraday low $176.95 before making a move.

Steering clear of the first major support level at $170, Litecoin rallied to a late afternoon intraday high $186.52.

Litecoin broke through the 23.6% FIB of $178 and the first major resistance level at $182.

Falling short of the second major resistance level at $187, however, Litecoin fell back through the first major resistance level to end the day at $181 levels.

At the time of writing, Litecoin was down by 1.13% to $179.45. A mixed start to the day saw Litecoin rise to an early morning high $181.53 before falling to a low $179.40.

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

For the day ahead

Litecoin would need to move through the $182 pivot to bring the first major resistance level at $186 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $185 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $186.52 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $195 before any pullback. The second major resistance level sits at $191.

Failure to move through the $182 pivot would bring the 23.6% FIB of $178 and the first major support level at $177 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$170. The second major support level at $172 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $177

Pivot Level: $182

First Major Resistance Level: $186

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 0.62% on Thursday. Following a 2.54% rise on Wednesday, Ripple’s XRP ended the day at $1.XXXX.

A mixed start to the day saw Ripple’s XRP fall to a late morning intraday low $1.11737 before making a move.

Steering clear of the first major support level at $1.0883, Ripple’s XRP rallied to an early afternoon intraday high $1.15800.

Coming up against the first major resistance level at $1.1520, however, Ripple’s XRP fell back to sub-$1.1250 levels before finding support.

A late move back through to $1.13 levels delivered the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.69% to $1.12588. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.13326 to a low $1.12588.

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 $1.1364 pivot to bring the first major resistance level at $1.1554 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.15 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $1.15800 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 $1.1770.

Failure to move through the $1.1364 pivot would bring the first major support level at $1.1147 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid the 38.2% FIB of $1.0659. The second major support level at $1.0957 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.1147

Pivot Level: $1.1364

First Major resistance Level: $1.1554

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

This article was originally posted on FX Empire

More From FXEMPIRE:

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting