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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 27th, 2021

By:
Bob Mason
Updated: Oct 27, 2021, 00:58 UTC

After a mixed day for the majors on Tuesday, a move back through Tuesday's highs and avoid a day in the red.

Shiny Ripple crypto-currency background

Ethereum

Ethereum fell by 2.12% on Tuesday. Partially reversing a 3.40% gain from Monday, Ethereum ended the day at $4,131.47.

After a choppy morning, Ethereum rose to a late intraday high $4,297.00 before hitting reverse.

Ethereum broke through the first major resistance level at $4,282 before sliding to a late intraday low $4,103.05.

The late sell-off saw Ethereum fall through the first major support level at $4,115 before a partial recovery to $4,130 levels.

At the time of writing, Ethereum was down by 0.19S% to $4,123.82. A mixed start to the day saw Ethereum rise to an early morning high $4,134.89 before falling to a low $4,118.45.

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

ETHUSD 271021 Hourly Chart

For the day ahead

Ethereum would need to move through the $4,179 pivot to bring the first major resistance level at $4,249 play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,200 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $4,297.00 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 $4,367.

Failure to move through the $4,179 pivot would bring the first major support level at $4,061 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,900 levels. The second major support level at $3,991 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,061

Pivot Level: $4,179

First Major Resistance Level: $4,249

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 1.04% on Tuesday. Following a 2.62% increase from Monday, Litecoin ended the day at $197.51.

A bullish start to the day saw Litecoin rise to an early morning intraday high $197.50 before hitting reverse.

Falling short of the first major resistance level at $199, Litecoin slid to an early afternoon intraday low $190.26.

Finding support at the first major support level at $191, Litecoin revisited $196 levels before a slide back into the red.

A final hour move back through to $197 levels, however, delivered the upside on the day.

At the time of writing, Litecoin was down by 0.40% to $196.72. A mixed start to the day saw Litecoin rise to an early morning high $198.42 before falling to a low $196.72.

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

LTCUSD 271021 Hourly Chart

For the day ahead

Litecoin would need to avoid the $196 pivot to bring the first major resistance level at $201 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 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 $210 before any pullback. The second major resistance level sits at $205.

A fall through the $196 pivot would bring the first major support level at $192 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$185. The second major support level at $187 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $192

Pivot Level: $196

First Major Resistance Level: $201

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 1.06% on Tuesday. Following a 1.12% gain on Monday, Ripple’s XRP ended the day at $1.10703.

After a choppy morning and afternoon, Ripple’s XRP surged to a late intraday high $1.15941 before hitting reverse.

Ripple’s XRP broke through the day’s major resistance levels before sliding to a late intraday low $1.09100.

Steering clear of the first major support level at $1.0815, Ripple’s XRP broke back through the first major resistance level at $1.1062 to end the day at $1.1070 levels.

At the time of writing, Ripple’s XRP was down by 0.46% to $1.10193. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.10512 to a low $1.10193.

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

XRPUSD 271021 Hourly Chart

For the day ahead

Ripple’s XRP would need to move through the $1.1191 pivot to bring the first major resistance level at $1.1473 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 and Tuesday’s high $1.15941 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 $1.1876.

Failure to move through the $1.1191 pivot would bring the first major support level at $1.0789 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 $1.0507.

Looking at the Technical Indicators

First Major Support Level: $1.0789

Pivot Level: $1.1191

First Major resistance Level: $1.1473

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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