xrp crypto value

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 16th, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 16th, 2021
Written by publisher team

Ethereum

Ethereum is up 2.08% on Friday. After rising 5.08% on Thursday, Ethereum ended the day at $3,869.73.

A mixed start to the day saw Ethereum drop to an intraday low of $3,734.44 before making any move.

Moving away from the first major support level at $3,644, Ethereum surged to an intraday high at $3,900.00.

Ethereum broke the first major resistance level at $3,884 before pulling back.

After dropping below the second major resistance level at $3,977, Ethereum ended the day at levels below $3,870.

At the time of writing, Ethereum is down 0.33% to $3,856.93. A mixed start to the day saw Ethereum rise to an early morning high at $3,873.05 before dropping to a low of $3,851.64.

Ethereum left key support and resistance levels untested early on.

for the next day

Ethereum will need to avoid the $3,835 pivot to hit the first major resistance level on play at $3,935.

However, support from the broader market will be needed to break out of Ethereum from Friday’s high of $3,900.00.

Barring an extended crypto rally, the first major resistance level is likely to be the upper bound.

In the event of a broad rally in the cryptocurrency, Ethereum could test the second major resistance level at $4,000.

A fall through the $3,835 pivot would trigger the first major support level at $3,770.

However, barring an extended sell-off, Ethereum should move away from levels below $3,600. The second major support level at $3,669 should limit the downside.

Looking at technical indicators

First Major Support Level: $3,770

Pivot Level: $3,835

First major resistance level: $3,935

23.6% Fib Retracement Level: $3,369

38.2% Fib Retracement Level: $2,740

62% Fib Retracement Level: $1,725

Litecoin

Litecoin price increased by 4.50% on Friday. After posting a gain of 2.14% on Thursday, Litecoin ended the day at $189.63.

A choppy start to the day saw Litecoin drop to an early morning intraday low at $176.61 before making any move.

Finding support at the first major support level at $177, Litecoin surged to an intraday high at $192.84.

Litecoin broke the 23.6% FIB of $178 and the first major resistance level at $186.

The breakout also saw Litecoin break the second major resistance level at $191 before easing back below $190.

At the time of writing, Litecoin is up 0.40% to $190.39. A mixed start to the day saw Litecoin drop to an early morning low of $189.39 before rallying to $190.53.

Litecoin left key support and resistance levels untested early on.

for the next day

Litecoin will need to avoid the $186 pivot to trigger the first major resistance level at $196.

However, support from the broader market will be needed to exit Litecoin from Friday’s high of $192.84.

Barring an extended rally for the cryptocurrency, the first major resistance and resistance at $200 is likely to be a cap on the upside.

In the event of another breakout, Litecoin could test the $210 resistance before any pullback. The second major resistance level is located at $203.

A fall through the $186 pivot would trigger the first major support level at $180 and the 23.6% Fib of $178.

Barring an extended sell off, Litecoin should move away from below $170. The second major support level at $170 should limit the downside.

Looking at technical indicators

1st Major Support Level: $180

Pivot level: $186

First major resistance level: $196

23.6% Fib Retracement Level: $178

38.2% Fib Retracement Level: $223

62% FIB Retracement Level: $296

Ripple XRP

XRP for Ripple is up 0.58% on Friday. After rising 0.62% on Thursday, XRP finished the day at $1.13982.

A mixed start to the day saw Ripple’s XRP surge to an early morning intraday high of 1.16471 before bouncing back in the opposite direction.

Ripple’s XRP broke the first major resistance level at $1.1554 before falling to a midday low at $1.10451.

The reversal saw Ripple’s XRP drop through the first major support level at $1.1147 before briefly revisiting the $1.15 levels.

Against the first major resistance level at $1.1554, Ripple’s XRP fell to end the day at levels below $1.14.

At the time of writing, Ripple’s XRP was up 0.38% to $1.14411. A bullish start to the day saw Ripple XRP rise from the early morning low of $1.14252 to $1.14482.

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

for the next day

Ripple’s XRP will need to avoid the $1.1363 pivot to achieve the first major resistance level at $1.1682.

However, support will be needed for XRP to break XRP from Friday’s high at $1.16471.

Barring an extended crypto rally, the first major resistance level is likely to be the upper bound.

In the event of a broad rally in the cryptocurrency, Ripple’s XRP could test the resistance at $1.20. The second major resistance level is located at $1.1965.

A fall across the $1.1363 pivot will trigger the first major support level at $1.1080.

However, excluding the extended sell-off, Ripple’s XRP should avoid the 38.2% Fib of $1.0659. The second major support level at $1.0761 should limit the downside.

Looking at technical indicators

First major support level: $1.1080

Pivot level: $1.1363

The first major resistance level: $1.1682

23.6% Fib Retracement Level: $0.8533

38.2% Fib Retracement Level: $1.0659

62% Fibonacci Retracement Level: $1.4096

Please tell us what you think in the comments below.

Thanks bob

This article was originally published on FX Empire

More from FXEMPIRE:

About the author

publisher team