Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 29th, 2021

Ethereum

Ethereum rallied by 9.25% on Thursday. Reversing a 5.04% slide from Wednesday, Ethereum ended the day at $4,288.26.

A bearish start saw Ethereum fall to an early morning intraday low $3,899.41 before making a move.

Steering clear of the first major support level at $3,804, Ethereum rallied to a late intraday high $4,299.00.

Ethereum broke through the first major resistance level at $4,179 to end the day at $4,280 levels.

At the time of writing, Ethereum was up by 0.22% to $4,297.58. A mixed start to the day saw Ethereum fall to an early morning low $4,269.59 before rising to a high $4,300.00.

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

For the day ahead

Ethereum would need to avoid the $4,162 pivot to bring the first major resistance level at $4,425 play.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $4,300.00.

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 $4,500 levels before any pullback. The second major resistance level sits at $4,562. Ethereum would need plenty of support, however, to breakout from May’s all-time high $4,383.4.

A fall through the $4,162 pivot would bring the first major support level at $4,026 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,700 levels. The second major support level at $3,763 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,026

Pivot Level: $4,162

First Major Resistance Level: $4,425

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 5.92% on Thursday. Partially reversing a 9.22% slide from Wednesday, Litecoin ended the day at $189.89.

A bearish start to the day saw Litecoin fall to an early morning intraday low $177.86 before making a move.

In spite of the early pullback, Litecoin steered clear of the first major support level at $166.

Finding support at the 23.6% FIB of $178, however, Litecoin rallied to a late intraday high $194.60.

Falling short of the first major resistance level at $199, Litecoin eased back to end the day at sub-$190 levels.

At the time of writing, Litecoin was up by 0.22% to $190.30. A mixed start to the day saw Litecoin fall to an early morning low $188.79 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 $188 pivot to bring the first major resistance level at $197 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $195 levels.

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 $204.

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 another extended sell-off, Litecoin should steer clear of sub-$175. The second major support level sits at $171.

Looking at the Technical Indicators

First Major Support Level: $180

Pivot Level: $188

First Major Resistance Level: $197

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 6.19% on Thursday. Partially reversing a 10.03% tumble from Wednesday, Ripple’s XRP ended the day at $1.05804.

Tracking the broader market, Ripple’s XRP fell to an early intraday low $0.98211 before making a move.

Steering clear of the first major support level at $0.9232, Ripple’s XRP rallied to a late morning intraday high $1.08956.

While falling short of the first major resistance level at $1.0947, Ripple’s XRP broke through the 38.2% FIB of $1.0659.

An afternoon pullback, however, saw Ripple’s XRP fall back through the 38.2% FIB to end the day at sub-$1.06 levels.

At the time of writing, Ripple’s XRP was up by 0.69% to $1.06536. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.05842 before rising to a high $1.06536.

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 $1.0402 pivot to bring the 38.2 FIB and the first major resistance level at $1.0984 into play.

Support would be needed, however, for Ripple’s XRP to break out from Thursday’s high $1.08056.

Barring an extended crypto rally, the first major resistance level and resistance at $1.10 levels 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 $1.1387.

A fall through the $1.0402 pivot would bring the first major support level at $0.9999 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$0.95 levels. The second major support level sits at $0.9418.

Looking at the Technical Indicators

First Major Support Level: $0.9999

Pivot Level: $1.0402

First Major resistance Level: $1.0984

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