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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 13th, 2021

By:
Bob Mason
Updated: Oct 13, 2021, 01:47 UTC

After a bearish Tuesday, failure to revisit Tuesday's highs would leave the majors under pressure.

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Ethereum

Ethereum fell by 1.46% on Tuesday. Partially reversing a 3.74% gain from Monday, Ethereum ended the day at $3,490.61.

A mixed start to the day saw Ethereum slide to a mid-day intraday low $3,403.51 before making a move.

Finding support at the first major support level at $3,402, Ethereum rallied to an early afternoon intraday high $3,549.00.

Falling short of the first major resistance level at $3,654, however, Ethereum fell back to sub-$3,500 levels and into the red.

At the time of writing, Ethereum was up by 0.19% to $3,497.35. A mixed start to the day saw Ethereum fall to an early morning low $3,488.00 before rising to a high $3,497.84.

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

ETHUSD 131021 Hourly Chart

For the day ahead

Ethereum would need to avoid the $3,481 pivot to bring the first major resistance level at $3,559 play.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $3,549.00.

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 resistance at $3,700 before any pullback. The second major resistance level sits at $3,627.

A fall through the $3,481 pivot would bring the first major support level at $3,413 and the 23.6% FIB of $3,369 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level at $3,336 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,413

Pivot Level: $3,481

First Major Resistance Level: $3,559

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 3.64% on Tuesday. Reversing a 2.53% gain from Monday, Litecoin ended the day at $172.63.

A bearish start to the day saw Litecoin slide from an early morning intraday high $179.22 to a late morning intraday low $166.50.

Litecoin fell through the 23.6% FIB of $178 and the first major support level at $173.

Finding early afternoon support, Litecoin briefly broke back through the first major support level before ending the day at $172 levels.

At the time of writing, Litecoin was down by 0.40% to $171.94. A mixed start to the day saw Litecoin rise to an early morning high $172.86 before falling to a low $171.94.

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

LTCUSD 131021 Hourly Chart

For the day ahead

Litecoin would need to move through the $173 pivot to bring the 23.6% FIB of $178 and the first major resistance level at $179 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $175 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $179.22 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 $186.

Failure to move through the $173 pivot would bring the first major support level at $166 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$160. The second major support level at $160 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $173

First Major Resistance Level: $179

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 2.95% on Tuesday. Reversing a 0.21% gain from Monday, Ripple’s XRP ended the day at $1.10254.

A bearish start to the day saw Ripple’s XRP fall from an early morning intraday high $1.13609 to a late morning intraday low $1.06533.

Ripple’s XRP fell through the first major support level at $1.1009 and the 38.2% FIB of $1.0659.

Steering clear of the second major support level at $1.0639, Ripple’s XRP revisited $1.11 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.96% to $1.09195. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.09888 to a low $1.09195.

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

XRPUSD 131021 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $1.1013 pivot to bring the first major resistance level at $1.1373 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.13 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1.13609 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 $1.1721.

Failure to move through the $1.1013 pivot would bring the first major support level at $1.0666 and the 38.2% FIB of $1.0659 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level at $1.0306 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0666

Pivot Level: $1.1013

First Major resistance Level: $1.1373

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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