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

For the day ahead

Litecoin would need to avoid the $186 pivot to bring the first major resistance level at $196 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $192.84.

Barring an extended crypto rally, the first major resistance level and resistance at $200 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 $203.

A fall through the $186 pivot would bring the first major support level at $180 and the 23.6% FIB of $178 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$170. The second major support level at $170 should limit the downside.

Looking at the Technical Indicators

First 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’s XRP

Ripple’s XRP rose by 0.58% on Friday. Following a 0.62% gain on Thursday, Ripple’s XRP ended the day at $1.13982.

A mixed start to the day saw Ripple’s XRP rally to an early morning intraday high $1.16471 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $1.1554 before falling to a mid-morning intraday low $1.10451.

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

Coming up against the first major resistance level at $1.1554, Ripple’s XRP fell back to end the day at sub-$1.14 levels.

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

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

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