Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 7th, 2021

For the day ahead

Litecoin would need to avoid the 23.6% FIB of $178 and the $175 pivot to bring the first major resistance level at $186 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $183.03 levels

Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $194.

A fall through the 23.6% FIB of $178 and the $175 pivot would bring the first major support level at $167 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level sits at $156.

Looking at the Technical Indicators

First Major Support Level: $167

Pivot Level: $175

First Major Resistance Level: $186

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 0.38% on Wednesday. Partially reversing a 3.95% rise from Tuesday, Ripple’s XRP ended the day at $1.07971.

A mixed start to the day saw Ripple’s XRP slide to a late morning intraday low $1.01807 before making a move.

Ripple’s XRP fell through the first major support level at $1.0539 and the second major resistance level at $1.0224.

The sell-off also saw Ripple’s XRP fall through the 38.2% FIB of $1.0659 before rallying to a mid-afternoon intraday high $1.10707.

Coming up against the first major resistance level at $1.1023, however, Ripple’s XRP fell back to end the day at $1.07 levels.

At the time of writing, Ripple’s XRP was down by 0.43% to $1.07508. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.07588 to a low $1.07508.

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

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