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HOME > News > CRYPTOPEDIA > ETHEREUM NEWS > Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis
ETHEREUM NEWSNews

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis

NFT Studio 24
Posted NFT Studio 24 October 16, 2021 524 Views 7 Min Read
Updated 2023/01/25 at 8:36 PM
Ethereum,
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– October 16th, 2021

Contents
EthereumFor the day aheadLooking at the Technical IndicatorsLitecoinFor the day aheadLooking at the Technical IndicatorsRipple’s XRPFor the day aheadLooking at the Technical Indicators


Ethereum

Physical version of Litecoin (new virtual money) and banknotes of one dollar. Exchange Litecoin for a dollar. Conceptual image for worldwide cryptocurrency and digital payment system.

Ethereum rose by 2.08% on Friday. Following a 5.08% rally on Thursday, Ethereum ended the day at $3,869.73.

A mixed start to the day saw Ethereum fall to an early intraday low $3,734.44 before making a move.

Steering clear of the first major support level at $3,644, Ethereum rallied to a late intraday high $3,900.00.

Ethereum broke through the first major resistance level at $3,884 before easing back.

Falling short of the second major resistance level at $3,977, Ethereum ended the day at sub-$3,870 levels.

At the time of writing, Ethereum was down by 0.33% to $3,856.93. A mixed start to the day saw Ethereum rise to an early morning high $3,873.05 before falling to a low $3,851.64.

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

For the day ahead

Ethereum would need to avoid the $3,835 pivot to bring the first major resistance level at $3,935 play.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $3,900.00.

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 the second major resistance level at $4,000.

A fall through the $3,835 pivot would bring the first major support level at $3,770 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,600 levels. The second major support level at $3,669 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,770

Pivot Level: $3,835

First Major Resistance Level: $3,935

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725


Litecoin

Litecoin rallied by 4.50% on Friday. Following a 2.14% gain on Thursday, Litecoin ended the day at $189.63.

A choppy start to the day saw Litecoin fall to an early morning intraday low $176.61 before making a move.

Finding support at the first major support level at $177, Litecoin rallied to a late intraday high $192.84.

Litecoin broke through the 23.6% FIB of $178 and the first major resistance level at $186.

The breakout saw Litecoin also break through the second major resistance level at $191 before easing back to sub-$190.

At the time of writing, Litecoin was up by 0.40% to $190.39. A mixed start to the day saw Litecoin fall to an early morning low $189.39 before rising to a high $190.53.

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

For the day ahead

Litecoin would need to avoid the $186 pivot to bring the first major resistance level at $196 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $192.84.

Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $203.

A fall through the $186 pivot would bring the first major support level at $180 and the 23.6% FIB of $178 into play.

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

Looking at the Technical Indicators

First Major Support Level: $180

Pivot Level: $186

First Major Resistance Level: $196

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 0.58% on Friday. Following a 0.62% gain on Thursday, Ripple’s XRP ended the day at $1.13982.

A mixed start to the day saw Ripple’s XRP rally to an early morning intraday high $1.16471 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $1.1554 before falling to a mid-morning intraday low $1.10451.

The reversal saw Ripple’s XRP fall through the first major support level at $1.1147 before briefly revisiting $1.15 levels.

Coming up against the first major resistance level at $1.1554, Ripple’s XRP fell back to end the day at sub-$1.14 levels.

At the time of writing, Ripple’s XRP was Ripple’s XRP up by 0.38% to $1.14411. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.14252 to a high $1.14482.

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

For the day ahead

Ripple’s XRP would need to avoid the $1.1363 pivot to bring the first major resistance level at $1.1682 into play.

Support would be needed, however, for Ripple’s XRP to break out from Friday’s high $1.16471.

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. The second major resistance level sits at $1.1965.

A fall through the $1.1363 pivot would bring the first major support level at $1.1080 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 $1.0761 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.1080

Pivot Level: $1.1363

First Major resistance Level: $1.1682

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096


Thanks, Bob

Reference :

https://www.fxempire.com/

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