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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 25th, 2021

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·5-min read
In this article:
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Ethereum

Ethereum fell by 2.53% on Sunday. Partially reversing a 4.95% rally from Saturday, Ethereum ended the week up by 6.12% to $4,082.64.

A mixed start to the day saw Ethereum rise to an early morning intraday high $4,188.42 before hitting reverse.

Falling short of the first major resistance level at $4,219, Ethereum fell to a late intraday low $3,962.05.

Ethereum fell through the first major support level at $4,027 before a partial recovery to end the day at $4,080 levels.

At the time of writing, Ethereum was up by 0.17% to $4,089.72. A mixed start to the day saw Ethereum fall to an early morning low $4,069.22 before rising to a high $4,100.00.

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

For the day ahead

Ethereum would need to avoid a fall back through the $4,078 pivot to bring the first major resistance level at $4,193 play.

Support from the broader market would be needed, however, for Ethereum to break out from $4,150 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $4,188.42 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 $4,304.

A fall back through the $4,078 pivot would bring the first major support level at $3,967 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,800 levels. The second major support level at $3,851 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3,967

Pivot Level: $4,078

First Major Resistance Level: $4,193

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin fell by 2.99% on Sunday. Reversing a 2.84% gain from Saturday, Litecoin ended the week up by 3.67% to $190.48.

A bullish start to the day saw Litecoin rise to an early morning intraday high $199.90 before hitting reverse.

Coming up against the first major resistance level at $200, Litecoin slid to a late afternoon intraday low $185.23.

Litecoin fell through the first major support level at $191.

Finding support at the second major support level at $185, however, Litecoin ended the day at $190 levels.

At the time of writing, Litecoin was up by 0.06% to $190.60. A mixed start to the day saw Litecoin fall to an early morning low $189.63 before rising to a high $191.63.

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

For the day ahead

Litecoin would need to move through the $192 pivot to bring the first major resistance level at $199 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 Sunday’s high $199.90 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 $207.

Failure to move through the $192 pivot would bring the first major support level at $184 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$175. The 23.6% FIB of $178 and the second major support level at $177 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $184

Pivot Level: $192

First Major Resistance Level: $199

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 1.04% on Sunday. Reversing a 0.47% rise from Saturday, Ripple’s XRP ended the week down by 0.86% to $1.0826.

After a mixed start to the day, Ripple’s XRP rise to an early morning intraday high $1.0961 before hitting reverse.

Falling short of the first major resistance level at $1.1040, Ripple’s XRP slid to a late afternoon intraday low $1.05291.

Ripple’s XRP fell through the first major support level at $1.0798 and the second major support level at $1.0666.

More significantly, Ripple’s XRP also fell through the 38.2% FIB of $1.0659 before finding support.

Late in the day, Ripple’s XRP moved back through the 38.2% FIB and the major support levels to end the day at $1.08 levels.

At the time of writing, Ripple’s XRP was up by 0.51% to $1.08814. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.07828 before rising to a high $1.08839.

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 $1.0772 pivot to bring the first major resistance level at $1.1015 into play.

Support would be needed, however, for Ripple’s XRP to break out from $1.10 levels.

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 levels before any pullback. The second major resistance level sits at $1.1204.

A fall through the $1.0772 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0583 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid the second major support level at $1.0340.

Looking at the Technical Indicators

First Major Support Level: $1.0583

Pivot Level: $1.0772

First Major resistance Level: $1.1015

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

This article was originally posted on FX Empire

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