2021-10-27 06:26:47

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

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.

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.

https://finance.yahoo.com/

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.

https://finance.yahoo.com/

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

This article was originally posted on FX Empire

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