Home Litecoin Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 28th, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 28th, 2021

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Ethereum

Ethereum slid by 5.04% on Wednesday. Following a 2.12% decline on Tuesday, Ethereum ended the day at $3,923.94.

A bullish start saw Ethereum rise to an early morning intraday high $4,314.63 before hitting reverse.

Ethereum broke through the first major resistance level at $4,249 before sliding to a late morning intraday low $3,940.00.

The sell-off saw Ethereum fall through the first major support level at $4,061 and the second major support level at $3,991.

Steering clear of sub-$3,900 levels, Ethereum briefly broke back through the second major support level before ending the day at sub-$3,930.

At the time of writing, Ethereum was up by 0.52% to $3,944.16. A mixed start to the day saw Ethereum fall to an early morning low $3,922.60 before rising to a high $3,952.39.

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

For the day ahead

Ethereum would need to move through the $4,060 pivot to bring the first major resistance level at $4,179 play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,100 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, Ethereum could test resistance at $4,500 levels before any pullback. The second major resistance level sits at $4,434. Ethereum would need plenty of support, however, to breakout from May’s all-time high $4,383.4.

Failure to move through the $4,060 pivot would bring the first major support level at $3,804 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,700 levels. The second major support level sits at $3,685.

Looking at the Technical Indicators

First Major Support Level: $3,804

Pivot Level: $4,060

First Major Resistance Level: $4,179

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin slid by 9.22% on Wednesday. Reversing a 1.04% gain from Tuesday, Litecoin ended the day at $179.35.

A bullish start to the day saw Litecoin rise to an early morning intraday high $205.03 before hitting reverse.

Litecoin broke through the first major resistance level at $201.

Coming up against the second major resistance level at $205, Litecoin tumbled to a late morning intraday low $172.40.

The sell-off saw Litecoin fall through the day’s major support levels and through the 23.6% FIB of $178.

Finding late morning support, however, Litecoin broke back through the third major support level and the 23.6% FIB of $178 to end the day at $179 levels.

The second major support level at $187 pegged Litecoin back in the early afternoon.

At the time of writing, Litecoin was up by 1.31% to $181.70. A mixed start to the day saw Litecoin fall to an early morning low $179.11 before rising to a high $181.84.

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

For the day ahead

Litecoin would need to move through the $186 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 back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $205.03 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 $218.

Failure to move through the $186 pivot would bring the 23.6% FIB of $178 and the first major support level at $166 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$165. The second major support level sits at $153.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $186

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 tumbled by 10.03% on Wednesday. Reversing a 1.06% gain from Tuesday, Ripple’s XRP ended the day at $0.99432.

A mixed start saw Ripple’s XRP rise to an early intraday high $1.12399 before hitting reverse.

Falling short of the first major resistance level at $1.1473, Ripple’s XRP slumped to a late morning intraday low $0.95242.

The extended sell-off saw Ripple’s XRP fall through the day’s major support levels and through the 38.2% FIB of $1.0659.

Finding late morning support, however, Ripple’s XRP broke back through the third major support level at $0.9823 to end the day at $0.99 levels.

At the time of writing, Ripple’s XRP was up by 0.91% to $1.00333. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.99432 before rising to a high $1.00333.

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

For the day ahead

Ripple’s XRP would need to move through the $1.0236 pivot to bring the first major resistance level at $1.0947 into play.

Support would be needed, however, for Ripple’s XRP to break out from the 38.2% FIB of $1.0659.

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 $1.1951.

Failure to move through the $1.0236 pivot would bring the first major support level at $0.9232 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid the 23.6% FIB of $0.8533 and the second major support level at $0.8520.

Looking at the Technical Indicators

First Major Support Level: $0.9232

Pivot Level: $1.0236

First Major resistance Level: $1.0947

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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