Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 6th, 2021

Ethereum

Ethereum rose by 3.79% on Tuesday. Reversing a 0.95% decline from Monday, Ethereum ended the day at $3,515.30.

A mixed start to the day saw Ethereum fall to an early morning intraday low $3,365.34 before making a move.

While steering clear of the first major support level at $3,292, Ethereum fell through the 23.6% FIB of $3,369.

Finding late morning support, however, Ethereum rallied to a late intraday high $3,547.88.

Ethereum broke through the first major resistance level at $3,461 and the second major resistance level at $3,535.

A late pullback, however, saw Ethereum fall back through the second major resistance level to end the day at sub-$3,520 levels.

At the time of writing, Ethereum was down by 0.22% to $3,507.68. A mixed start to the day saw Ethereum rise to an early morning high $3,518.96 before falling to a low $3,507.33.

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

For the day ahead

Ethereum would need to avoid the $3,476 pivot to bring the first major resistance level at $3,587 play.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $3,547.88.

Barring an extended crypto rally, the first major resistance level and resistance at $3,600 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 $3,659.

A fall through the $3,476 pivot would bring the first major support level at $3,405 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels and the second major support level at $3,294. The 23.6% FIB of $3,369 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,405

Pivot Level: $3,476

First Major Resistance Level: $3,587

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 3.71% on Tuesday. Reversing a 1.79% loss from Monday, Litecoin ended the day at $173.79.

A mixed start to the day saw Litecoin fall to an early morning intraday low $166.66 before making a move.

Steering clear of the first major support level at $162, Litecoin rose to a late intraday high $175.53 before easing back.

Litecoin broke through the first major resistance level at $172 to end the day at $173 levels.

At the time of writing, Litecoin was down by 0.05% to $173.71. A mixed start to the day saw Litecoin rise to an early morning high $174.39 before falling to a low $173.63.

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

For the day ahead

Litecoin would need to avoid the $172 pivot to bring the first major resistance level at $177 and the 23.6% FIB of $178 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 23.6% FIB would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $185 levels before any pullback. The second major resistance level sits at $181.

A fall through the $172 pivot would bring the first major support level at $169 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level sits at $163.

Looking at the Technical Indicators

First Major Support Level: $169

Pivot Level: $172

First Major Resistance Level: $177

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 3.95% on Tuesday. Reversing a 1.20% fall from Monday, Ripple’s XRP ended the day at $1.08544.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.03925 before making a move.

Steering clear of the first major support level at $1.0132, Ripple’s XRP rallied to a late intraday high $1.08759.

Ripple’s XRP broke through the first major resistance level at $1.0658 and the 38.2% FIB of $1.0659 to end the day at $1.08 levels.

At the time of writing, Ripple’s XRP was down by 0.50% to $1.07999. a mixed start to the day saw Ripple’s XRP rise to an early morning high $1.08434 before falling to a low $1.07999.

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 $1.0708 pivot and the 38.2% FIB of $1.0659 to bring the first major resistance level at $1.1023.

Support would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $1.08759.

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 $1.15 before any pullback. The second major resistance level sits at $1.1191.

A fall through the $1.0708 pivot and the 38.2% FIB of $1.0659 would bring the first major support level at $1.0539 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$1.00 levels. The second major support level at $1.0224 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.

Pivot Level: $1.

First Major resistance Level: $1.

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