Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 9th, 2021

For the day ahead

Litecoin would need to move through the $178 pivot and 23.6% FIB of $178 to bring the first major resistance level at $181 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $180 levels

Barring an extended crypto rally, the first major resistance level and Friday’s high $183.44 would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level sits at $187.

Failure to move through the $178 pivot and the 23.6% FIB of $178 would bring the first major support level at $172 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level at $169 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $172

Pivot Level: $178

First Major Resistance Level: $181

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 0.53% on Friday. Following a 0.78% decline on Thursday, Ripple’s XRP ended the day at $1.06309.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $1.09198 before hitting reverse.

Falling short of the first major resistance level at $1.0928, Ripple’s XRP slid to a late intraday low $1.05401.

While steering clear of the first major support level at $1.0434, Ripple’s XRP fell through the 38.2% FIB of $1.0659.

Finding late support, however, Ripple’s XRP tested resistance at the 38.2% FIB of $1.0659 before easing back.

At the time of writing, Ripple’s XRP was up by 0.26% to $1.06581. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.05741 before rising to a high $1.06618.

While leaving the major support and resistance levels untested, Ripple’s XRP briefly broke through the 38.2% FIB of $1.0659.

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